Despite tight inventory, total used-vehicle sales in April were up 69% compared to April 2020, according to my colleague, Cox Automotive chief economist Jonathan Smoke, who is forecasting full-year retail used-vehicle sales will reach 21.5 million, an increase from 19.7 million in 2020.  At 60,000 strong, independent dealers are the backbone of our industry and […] [Read More]

TransUnion is pretty bullish about the future prospects for the subprime segment of auto financing. While discussing the metrics contained in the Q1 2021 TransUnion Industry Insights report, senior vice president and automotive business leader Satyan Merchant explained how that data coupled with a handful of other trends could lead to a lift in originations […] [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of Auto Remarketing's "Beyond the Transaction" special supplementary issue. Scott Johnston said capacity constraints are a top issue in the vehicle transportation industry today. Putting it simply, that means too many vehicles to move. “And not enough transport trucks to move them,” said Johnston, who […] [Read More]

The American Recovery Association (ARA) recently announced the new theme for the North American Repossessors Summit (NARS), which will return as an in-person event in October. That theme, “Resilience: Rising Above and Committed to Building a Stronger Industry,” ties in significantly with a cautionary alert ARA sent soon afterward about a proposal working its way […] [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of Auto Remarketing's "Beyond the Transaction" special supplementary issue. Many companies have seen significant changes in how they operate because of the pandemic, and Cox Automotive Mobility is no exception. The company’s associate vice president of product Jim Heffner said consumers coming in for servicing […] [Read More]

Perhaps what happened to the Colonial Pipeline has you thinking about if your finance company suddenly suffered a ransomware attack and how it might cripple your originations and collections. To help companies of all kinds, Seventh Knight recently developed an embedded solution with the MaaS360 technology powered by IBM. The provider of unique ransomware protection solutions […] [Read More]

For a used-car shopper, figuring out if a specific vehicle will be dependable can be tricky. In fact, the recent CarGurus Reliability Survey found that just over half (51%) believe determining the reliability of a pre-owned vehicle is “easy.” With that in mind, there are factors that used-car shoppers consider when thinking about vehicle reliability, […] [Read More]

It delights auto-finance companies when their customers set up an ACH path for monthly payments. And providers likely are excited about that stream potentially growing since Nacha, which governs the ACH Network, saw total volume soar during the first quarter of the year, setting two new records in the process. Nacha said quarterly volume of […] [Read More]

Sweet 16, indeed. Black Book reported on Tuesday via its latest installment of Market Insights that wholesale values now have increased for 16 consecutive weeks. It’s getting so intense in the lanes that some dealers are fetching better returns in the wholesale space rather than via retailing. “Despite the limited inventory on dealer lots, many […] [Read More]

ADESA said Tuesday it has named new general managers at several of its auction locations throughout the U.S. and Canada. Those auctions and their respective new GMs are: ADESA Pittsburgh: Carly Bishop ADESA East Tennessee: Terry Costner ADESA Nashville: Ryan Hellemn ADESA Mercer: David Skiver ADESA Houston: Brian Wetzel ADESA Moncton: James Murphy Regarding the […] [Read More]