Credit Acceptance Corp. made two major announcements on Thursday afternoon; one involving top company leadership and the other in connection with a multi-million-dollar settlement with a state attorney general. First, the finance company that specializes in subprime paper said that Brett Roberts, Credit Acceptance’s chief executive officer and president and a member of the company’s […] [Read More]

RouteOne senior vice president of business development Jeff Belanger stopped by for a conversation, reflecting on how technology helped the industry navigate the pandemic. And in this episode of the Auto Remarketing Podcast, Belanger also discussed how the pandemic potentially accelerated some permanent changes in how vehicles are financed and retailed. To listen to this […] [Read More]

Vroom has added two members to its board of directors, both with extensive backgrounds in the financial industry.  The new members are Paula Pretlow and Frederick Terrell, and Vroom chief executive officer, Paul Hennessy describes them as “two highly qualified executives with notable leadership experience at some of the world’s largest financial institutions.” Pretlow is […] [Read More]

Lithia Motors & Driveway continues its expansion path, this time adding more muscle in the Northeast. The retailer announced Tuesday it has acquired Planet Honda in Union, N.J., a store expected to bring in $230 million in annual revenues. “We are excited to welcome Bill Feinstein and his dedicated team to the Lithia and Driveway […] [Read More]

Black Book has integrated its data into 360 AUTO, which provides tools, technology, and guidance to help auto dealers increase dealership lot visits and sales. Black Book data and analytics will integrate with 360 AUTO’s AutoRetail product. That digital retailing tool integrates into dealers’ websites to drive business into their retail location to help sales […] [Read More]

Brodie Cobb, the founder and chief executive officer of The Presidio Group, joins the Auto Remarketing Podcast to discuss why the dealership buy-sell market has been so hot over the last six to nine months. Cobb also addresses the potential for buyers coming in from outside the industry and much more. Plus, he explains what made […] [Read More]

Dealers Auto Auction will add a new auction in Columbia, S.C., marking its first location in the Carolinas, and Matt Laughridge will serve as the auction’s general manager. The new Dealers Auto Auction of Columbia will be the eighth auction for the group. Laughridge started in the auction business in 1999 with Manheim, and he […] [Read More]

It’s been a busy week for Carvana near the picturesque mountains of Utah and along the shores of the Gulf of Mexico. But Carvana hasn’t been on vacation. Rather, the company opened seven more locations to expand its digital retailing footprint for onsite delivery to 279 markets. The newest locations where Carvana now does business […] [Read More]

As finance companies modify their ongoing strategies, perhaps what the Federal Reserve does with interest rates will give executives at least one consistent ingredient on which to build forward-looking plans. Members of the Federal Open Market Committee (FOMC) decided unanimously to keep the target range for the federal funds rate at 0 to 0.25%. The […] [Read More]

McConkey Auction Group is migrating ABS Auto Auctions, its digital auction company for the Southwest, into the EBlock platform; a move expected to be completed by early summer. ABS is a digital auction company that has 10 physical locations (where ancillary services like inspections and tasks can be completed) but whose sales are all online. MAG […] [Read More]