Kroll Bond Rating Agency (KBRA) and S&P Global Ratings each shared their latest observations of contract performance based on metrics collected through the auto ABS market. Analysts at both firms spotted similar patterns. Beginning with S&P Global Ratings, the firm said through a news release that U.S. prime auto ABS saw “strong” results in September, […] [Read More]

While still not recovered to the activity level seen before the pandemic, bankruptcy filings are trending higher. Epiq recently released its October bankruptcy filing statistics from its AACER bankruptcy information services business. The firm said October new filings for all chapters increased 1.8% to 31,471, up from 30,920 in September. Epiq indicated total individual Chapter […] [Read More]

Canada Drives has lined up a deal to be the official Used Car Retailer & Auto Finance partner of the Canadian Football League, according to a release from the CFL. The partnership is a multi-year deal and will include various Canada Drives media assets throughout the CFL playoffs and Grey Cup championship, the CFL said. […] [Read More]

Online auto retail platform Clutch has raised $100 million (CAD) in Series B equity financing led by D1 Capital Partners. Also participating in the round announced last week were Flight Deck Capital, Canaan Partners, Upper90, Real Ventures, GFC, Brand Project and FJ Labs. Clutch plans to use the funding to “strengthen operations” in its existing markets […] [Read More]

As the global microchip shortage continues to significantly impact the automotive industry, the resulting supply chain disruptions have created an ongoing crisis of inventory scarcity. The numbers are staggering: right now there are 1.4 million fewer new vehicles than in 2020, and more than 2.5 million fewer than in 2019. For dealers to succeed in […] [Read More]

Carketa continued to stay on a positive trajectory last week, landing more financial resources to grow the dealership solutions software company. The Utah-based developer of SaaS applications for the automotive industry announced it closed a $6 million series seed financing led by Origin Ventures and Crosslink Capital with additional funding from Hack VC, Lancaster and […] [Read More]

It sure was great to be back in person. In this episode of the Auto Remarketing Podcast, Cherokee Media Group senior editors Joe Overby and Nick Zulovich offered a recap of Used Car Week, which was back with face-to-face networking, intriguing conversations and presentations and more at the Red Rock Resort in Las Vegas. To […] [Read More]

The acronym “ACES” or “CASE” is often used in the auto industry to describe, in some form or fashion, the emerging role of connectivity, autonomous driving, shared mobility and electrification. And as he has shared during industry presentations, Quin Garcia and the team at Autotech Ventures will often add a “D” to the latter to […] [Read More]

Lightico, in collaboration with Auto Fin Journal and six industry leaders, recently announced the top 100 list of leading innovators as part of the 2021 Auto Finance Innovators Award: Top 100, which recognizes auto finance professionals who have made significant technological contributions to their company and the industry, The selections were made by a panel […] [Read More]

Solifi — which is the global fintech software combination of IDS, William Stucky & Associates and White Clarke Group — recently announced the company has secured 11 new customers and 14 go-lives to date in 2021. With its unique open finance platform driving record-breaking growth and digital transformation, Solifi highlighted through a news release that […] [Read More]