The auto-finance industry’s appetite for the highest-risk paper declined to close 2020. According to Experian’s Q4 2020 State of the Automotive Finance Market report, analysts discovered deep subprime originations of all contracts booked in a quarter dipped below 2% for the first time. The fourth-quarter level came in at 1.98%. Experian classifies deep subprime as […] [Read More]

Nearly new, late-model vehicles are in high demand, especially by franchised stores with tight new-vehicle inventory because of manufacturing challenges. Units with much lower actual cash values are wanted, too, as dealers of all stripes cater to budget buyers who got a financial bump via a stimulus or federal income tax refund. Put the trends together […] [Read More]

America’s Auto Auction has promoted Jordan Clark to fleet/lease manager at America’s Auto Auction Bowling Green. America’s Auto Auction senior vice president Brian Thomas said Clark did well in helping the Bowling Green auction’s clients get through the challenges of remarketing vehicles during the pandemic. Clark, who has worked at the Bowling Green facility since […] [Read More]

Automotive group HGreg.com is expanding into the Tampa Bay area, saying that the new 10-acre Brandon property will allow the company to expand its digital and onsite service offerings. The company plans to open the location this spring, expanding service offerings to Central and West Coast Florida car buyers and to out-of-state market buyers as […] [Read More]

CarMax is recognizing its associates’ commitment to customer service and their work in introducing new offerings such as its omni-channel platform during a challenging year. CarMax president and chief executive officer Bill Nash said “associates are the heart of CarMax” as the company said it will issue bonuses to 22,000 of those employees. More than […] [Read More]

KAR Global will have a new chief executive officer on April 1. The company announced Tuesday afternoon that KAR president Peter Kelly will succeed Jim Hallett as CEO. Hallett, who has been CEO since 2009 and KAR’s chairman since 2014, will become the company’s executive chairman. He will continue in an advisory role with KAR. […] [Read More]

After landing some credit resources just before the end of the year via Westlake Financial, NextCar Holding Co. (NXCR) reinforced its portfolio of human capital on Tuesday. The fintech and insurtech vehicle subscription platform for dealers, automakers and third-party listing sites, announced seven key management appointments as part of its product and technology launch and […] [Read More]

VINData Products LLC has added Manheim Market Report and Black Book wholesale and retail vehicle values to its vehicle history reports, saying the vehicle values provide accurate, independent information for auto dealers. The company said the reports help used-car dealers more effectively source the right vehicles for their markets, and they can also help boost […] [Read More]

In what we’re proud to call an annual tradition, Cherokee Media Group’s Women in Remarketing program has evolved into a celebrated franchise of Auto Remarketing and a key pillar of the National Remarketing Conference and Used Car Week. For more than a decade, Women in Remarketing has recognized excellence among the leaders of the remarketing and used-car […] [Read More]

Shoppers choosing to buy a 2021 model from one of Kelley Blue Book’s Best Resale Value Brand winners can be confident that their vehicle will do well in retaining its value over time. That’s according to Eric Ibara, director of residual values for Kelley Blue Book. Ibara provided that opinion as Kelley Blue Book on […] [Read More]