Experian reported that 46.29% of all new vehicles financed during the first quarter were attached to a lease. And a new partnership could help to raise that level in future quarters. Credit Union Leasing of America (CULA) further expanded its vehicle leasing footprint through its partnership with Metro Credit Union, which launched vehicle leasing in […] [Read More]

Toyota Financial Services (TFS) is continuing to cultivate its portfolio of fuel-efficient vehicles. Last week, the captive issued its latest asset-backed green bond, reinforcing the company’s longstanding commitment to the sale of environmentally friendly vehicles. TFS said in a news release that net proceeds from the $1.6 billion bond offering will be used for the […] [Read More]

Continuing a busy season of automotive M&A — a run that includes the wholesale segment — IAA announced Monday it has acquired Marisat, Inc., which does business as Auto Exchange. IAA will now operate Auto Exchange's business, which is based out of New Jersey and provides personal service and security for the salvage recovery industry. […] [Read More]

The “once-in-a-lifetime environment” for dealerships changing hands doesn’t appear to be dissipating. At least it didn't in the first quarter. Kerrigan Advisors highlighted the dealership buy/sell market once again set records to begin 2021, a result of a unique confluence of market factors that resulted in 66 completed transactions, up 20% quarter-over-quarter. The firm indicated […] [Read More]

While Cox Automotive’s measure of wholesale vehicle values is still at an all-time high, the rate of week-over-week increases has slowed in the first half of June. And values may have reached an apex. That’s according to the mid-month reading of the Manheim Used Vehicle Value Index, which came in at 203.6. That is up […] [Read More]

RumbleOn made a trio of executive-level moves on Thursday; one triggered by unforeseen circumstances. According to news releases from the e-commerce company that leverages technology in an effort to simplify how dealers and consumers buy, sell, trade or finance pre-owned vehicles, RumbleOn announced that Beverly Rath will act as interim chief financial officer, effective immediately. […] [Read More]

The high-level executive changes at Credit Acceptance continued this week. About three months after chief executive officer Brett Roberts announced his retirement, the subprime auto finance company said through a filing with the Securities and Exchange Commission that chief legal officer and corporate secretary Charles Pearce is making a similar move. Credit Acceptance said Pearce […] [Read More]

EFG Companies announced three new additions to its national field team, tapping professionals who have experience at places such as Cox Automotive, dealerships and academia. According to a news release distributed this week, Jay Gordon, former director of enterprise accounts at Cox Automotive, has joined EFG as regional vice president of dealer services. The company […] [Read More]

Carnomaly is continuing to push the vehicle acquisition and financing process even further away from what might seem like the dark ages of paper checks toward a new era when cryptocurrency is the payment path. On Friday, the company announced its enhanced crypto and blockchain platform that can give consumers and dealers the ability to […] [Read More]

To say there’s a lot of data to be harnessed in an industry that moves tens of millions of vehicles (quite literally and figuratively) would be a major understatement. And as you might imagine, the data in the wholesale auto auction industry goes far beyond prices and the number of vehicles sold. That’s where the […] [Read More]