The auto default rate now has been below the 1% level for 15 consecutive months, according to data assembled by S&P Dow Jones Indices and Experian. The streak continued thanks to a small dip in the auto segment of the S&P/Experian Consumer Credit Default Indices released earlier this week. Based on data through March, the […] [Read More]

Byrider is looking to make it easier for dealer operators and other entrepreneurs to gain a franchise in its network of buy-here, pay-here stores. This week, the company announced the launch of its new franchising model, Byrider Direct, adding what executives believe is a new, simpler entry point into its franchising system. Byrider said the […] [Read More]

This week, the National Independent Automobile Dealers Association announced the newest vendor to join the organization as a National Corporate Partner. According to a news release, VINsmart joined this NIADA group as its newest bronze-level member, offering affordable, reliable vehicle history reports to association members. NIADA highlighted VINsmart is a product of NOBEL Systems, an […] [Read More]

Automotive retail is one of the largest sectors of the U.S. economy, and it is in the middle of a rapid transformation. Going forward, the men and women working in the industry will reasonably be described as high-tech workers, and for good reason. It’s becoming a market defined by cutting-edge technological innovation and customer experience. […] [Read More]

For most of my career as a dealer, I’ve been endangered.  I’m essentially a woolly mammoth on the plains: big, slow, and irresistible to spear-tossing cavemen. I should be extinct. And I will be. Any day now.  At least, that’s what you might think if you believed commercials like this one aired that during the Superbowl. […] [Read More]

Global online vehicle auction company Copart and online title processing software developer CHAMPtitles have introduced an automated digital platform for car sellers, including insurance companies. The companies say the platform lessens the need for manual paper and mail-oriented vehicle title processing. Copart president Jeff Liaw said the company strives to deliver industry-leading services to its buyers […] [Read More]

Black Book understands dealerships and finance companies need the most accurate data possible, especially with the pandemic creating so many unprecedented circumstances. In response on Wednesday, Black Book announced that its most precise valuation yet — VIN-specific history adjusted valuations — is now available for residual values in their self-service batch processing platform, ValuEngine as well […] [Read More]

Auto industry venture consultancy motormindz said its new strategic global expansion to more than 32 countries will provide local resources to advise and assist its clients worldwide. The company said that will bring what it describes as a boots-on-the-ground perspective to the existing challenges and opportunities in each geographic region. The global expansion will take […] [Read More]

Vehicle Acquisition Network, a private-party acquisition service provider for dealerships, said its new system integration with vAuto streamlines dealer inventory management with insight into vehicle demand and alternate sourcing opportunities. The streamlining helps dealers appraise cars competitively and acquire vehicles quickly, according to Vehicle Acquisition Network. The company said the strong increase in used-car sales […] [Read More]

In more signs that the industry is returning to some normalcy, the Receivables Management Association International (RMAI) held its 2021 annual conference in Las Vegas earlier this month, welcoming more than 500 attendees in person and another 150 virtual attendees RMAI leaders also capitalized on the event by honoring an outstanding member and RMAI’s executive […] [Read More]