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]

For Toyota and Lexus dealerships in southern California with overwhelmed service drives and recon shops, help literally is on the way. On Friday, Universal Technical Institute announced the first local cohort of students have begun their accelerated 12-week training to complete eight Toyota and five Lexus class credentials preparing them to join one of the […] [Read More]

SoCal Penske Dealer Group closed July with some excitement by opening a trio of luxury showrooms on Friday. The company began retailing at Jaguar Puente Hills, Land Rover Puente Hills and Penske Volvo Cars in the Puente Hills Auto Center. These new dealerships serve the greater Los Angeles Area, including the Inland Empire, San Gabriel […] [Read More]

Acquisitions aren’t just happening among dealerships. Auctions and other automotive service providers are in the mix, too, with the latest move involving the rarest of vehicles. On Thursday, Barrett-Jackson Holdings, the parent company of Barrett-Jackson Auction Co., announced the acquisition of the Phoenix-based Collector Car Network, including ClassicCars.com, AutoHunter, The ClassicCars.com Journal and the Future […] [Read More]

Enterprise Holdings is making quite a financial commitment to addressing social and racial equity gaps facing youth and families in communities across the globe. Through the Enterprise Holdings Foundation, the company that operates the Enterprise, National and Alamo rental car brands is awarding its inaugural local Enterprise Holdings ROAD Forward grants to nearly 700 nonprofit […] [Read More]