As part of its "50-50 strategic plan" — through which the company aims to reach $50 billion in revenues and $50 in earnings per share over five years — Lithia & Driveway said Tuesday it has expanded the senior leadership in its marketing department. That includes the hiring of a chief marketing officer. Appointed to the […] [Read More]

CarLotz closed a busy July with its third announcement in connection with a major market hub. Having already shared details about hubs in Los Angeles, Las Vegas and Denver, the consignment-to-retail used-vehicle marketplace last week announced it will open a second hub in Texas to serve customers in the greater Dallas area. CarLotz said the […] [Read More]

The Policaro Group, an Ontario-based dealer group, announced last month it has broken ground on a new Porsche store in Kitchener-Waterloo. The store, set to be located at 1705 Victoria Street North in Waterloo, is Policaro’s second Porsche franchise. The plan is for it to be a 75,000-square-foot facility on three acres. “We are delighted […] [Read More]

For the first time, an episode of the Auto Remarketing Podcast was recorded in front of a live audience. During the annual convention hosted by the Texas Independent Automobile Dealers Association in Round Rock, Texas, Cherokee Media Group’s Nick Zulovich shared a conversation with Vroom chief revenue officer Mark Roszkowski, who described how the online […] [Read More]

Even though Credit Acceptance watched its second-quarter origination volume drop by 28.7%, leadership of the subprime auto finance company is committed to maintaining its underwriting strategy, which played a role in it generating healthy income gains. Last week, Credit Acceptance announced its consolidated net income totaled $288.6 million, or $17.18 per diluted share, for the […] [Read More]

CARY, N.C. — While Sonic Automotive leadership declined to comment further after announcing a strategic review of EchoPark Automotive, company president Jeff Dyke did share more details about Sonic’s investment in its standalone used-car program in an interview with Auto Remarketing on Thursday. The wide-ranging conversation included more details on the digital retailing platform in the works for […] [Read More]

With seven months of 2021 already completed, AUL Corp. senior vice president of strategic product development Jason Garner identified five key F&I tips to help dealerships and finance companies be even more successful during the remainder of the year. Garner collaborated with his team at AUL to compile these tips using feedback from agents, dealers […] [Read More]

Credit Acceptance Corp. and Wise F&I each have received accolades for how great their workplaces are. For Credit Acceptance, the finance company that specializes in subprime auto financing now has claimed six accolades so far this year, with the most recent accomplishment being named by Crain’s Detroit Business as one of the 50 fastest-growing companies […] [Read More]

Nominations are now open for the 2021 Auto Finance Innovators Award: Top 100, aimed at recognizing auto finance professionals that have made significant technological contributions to their company and the industry. The awards, sponsored by Lightico and Auto Fin Journal, come on the heels of significant innovation in the auto finance industry during the last […] [Read More]

Bain & Co. pointed out that companies have typically prioritized the speed at which they implement digital transformations across their organizations to combat digital disruption. However, Bain experts said these promising digital transformation initiatives often lose momentum and fail to produce the broad impact needed to compete in today’s world. Through Bain’s annual survey of […] [Read More]