American Financial Services Association senior vice president Celia Winslow appeared on this episode of the Auto Remarketing Podcast to discuss what the Consumer Financial Protection Bureau reported when the regulator examined subprime auto financing earlier this year. Winslow also shared what the association’s dialogue has been like with federal lawmakers and other happenings in Washington, […] [Read More]

Penske Automotive Group didn’t have to go far for its latest purchase. The retailer said Tuesday it has acquired Erhard BMW of Bloomfield, which is just over a mile away from and located on the same street as Penske’s Bloomfield Hills, Mich., headquarters. The store is Penske’s 48th BMW store globally and the automaker’s largest […] [Read More]

Well, perhaps you can call it a gift for used-car managers. At least wholesale values aren’t rising as much now as they did earlier this year. That’s the gist of the latest Market Insights from Black Book, which described the auction scene as dealers get ready for what some stores call the “13th month.” [Read More]

Byrider made a move this week to strengthen its service department. The chain of more than 140 buy-here, pay-dealerships and franchisees became a part of Openbay and its automotive services marketplace, one of the nation’s largest online consumer platforms for automotive services. According to a news release, Byrider expanded its online presence and reach to […] [Read More]

Agora Data added more technological horsepower to its platform aimed to help buy-here, pay-here dealerships gain more financial information and resources to growth their businesses. On Tuesday, the company highlighted the three enhancements it made to AgoraInsights. They include reporting functionality, historical trends and real-time data. Agora Data explained the added features provide a vital […] [Read More]

One of the closest observers of the auto securitization market now has new ownership after forming in the wake of the global financial crisis. Kroll Bond Rating Agency (KBRA) announced on Tuesday that it has entered a deal with growth-oriented private equity firm Parthenon Capital Partners, which will acquire a majority stake in the company. […] [Read More]

After being with Black Book for the past nine years, Jared Kalfus now is president of the company that provides vehicle pricing, data and analytics. Black Book made the announcement on Tuesday, elevating Kalfus to be president of the company, which includes Canadian Black Book, effective immediately. The announcement was made through a news release […] [Read More]

It may feel like everything you buy these days is 40% more expensive than it was a year ago.  With used vehicles, that’s actually the case if you’re a car dealer.  Similar to other industry indices, the J.D. Power Valuation Services Used Vehicle Price Index reached an all-time high in November.  The index, seasonally adjusted, […] [Read More]

Shift has lined up a new $100 million floorplan facility with Ally Financial, the automotive ecommerce provider said Monday. The deal expands the companies’ existing relationship. The two-year term on the facility expires Dec. 9, 2023. “Our business is rapidly scaling, with 2021 sales expected to more than triple compared to 2020. As a result, […] [Read More]

Cox Automotive Canada has new leadership. On Monday, Cox Automotive announced that Ola Ajayi-Salako has been promoted to senior director, agile delivery, and will act as the site leader for Cox Automotive Canada, effective immediately. In this expanded role, the company said Ajayi-Salako will work closely with local teams and foster strategic collaboration between Canadian […] [Read More]