Carvana is staking its claim to two milestones: the fastest used-car retailer to organically sell more than 400,000 units in a year and the fastest online auto retailer to have reached 1 million sales since founding (nine years). The company said it reached each of these landmarks in the fourth quarter. “Our engine of growth […] [Read More]

As the organization also got its preparations in motion for its annual convention, the National Independent Automobile Dealers Association (NIADA) reinforced its government advocacy on Wednesday with the addition of Christina Perez as director of government affairs. NIADA highlighted that Perez joins vice president of government affairs Brett Scott in advancing the association’s engagement with […] [Read More]

More evidence that consumers maintaining their monthly payments for their vehicles is continuing to wobble arrived this week from Kroll Bond Rating Agency (KBRA). In its latest analysis looking at the automotive securitization market, KBRA found that December remittance reports showed mixed credit performance across prime and non-prime auto pools during the November collection period. [Read More]

The wholesale vehicle market has started 2022 with some mixed signals, it appears. After reaching an all-time in December, the Manheim Used Vehicle Value Index climbed another 0.8% in the first half of January. But that gain was largely driven by seasonal adjustment, Cox Automotive said in a Data Point report Wednesday. “The non-adjusted price […] [Read More]

I’ve been in the automotive industry for more than 15 years and, hands down, this is one of the most unusual markets I have ever seen. Despite predictions by industry experts that independent auto dealers would not fare well during the pandemic, they have largely survived and, in some cases, even thrived. Studies by Cox […] [Read More]

Automotive Ventures knows how to orchestrate contests to help startups and other blossoming industry firms, as shown by the success of the NAVIcon Cup at Used Car Week. The latest endeavor from Automotive Ventures surfaced on Wednesday, as the automotive technology, venture capital and consulting firm announced a call for contestants for the Shell Startup Showdown. […] [Read More]

Clashes involving repossession agents, forwarders and finance companies recently brought Jeremiah Wheeler of DRN | MVTRAC into the mix. When agents stopped scanning license plates as a way to create industry attention about repossession fees, the move left Wheeler with a conundrum that he addressed during a frank conversation with Patrick Altes on the Repo […] [Read More]

When Tresl started its operations in 2007, there were just three employees. Now as a firm involved in auto refinance, vehicle lease buyout and fleet vehicle purchase financing and transactions, the company has grown to more than 230 associates who are all part of celebrating Tresl’s 15-year milestone in 2022. “One of our proudest achievements […] [Read More]

More opportunities to enhance the insurance opportunities within your dealership finance office recently arrived. DealerPolicy, a leading insurance marketplace for automotive retail, announced a strategic partnership with APCO Holdings, a leading provider and administrator of F&I products and home to the EasyCare and GWC Warranty brands. With this alliance, DealerPolicy’s innovative and cost-saving personal insurance platform will […] [Read More]

For captive finance companies interested in buying paper lower on the credit spectrum, assistance is coming later this year from defi SOLUTIONS, which recently announced expansion of its partnership with Open Lending. The service providers highlighted the expansion includes an integration with Open Lending’s Lenders Protection platform for captives via the defi XLOS originations product. […] [Read More]