The high-level executive changes at Credit Acceptance continued this week. About three months after chief executive officer Brett Roberts announced his retirement, the subprime auto finance company said through a filing with the Securities and Exchange Commission that chief legal officer and corporate secretary Charles Pearce is making a similar move. Credit Acceptance said Pearce […] [Read More]

EFG Companies announced three new additions to its national field team, tapping professionals who have experience at places such as Cox Automotive, dealerships and academia. According to a news release distributed this week, Jay Gordon, former director of enterprise accounts at Cox Automotive, has joined EFG as regional vice president of dealer services. The company […] [Read More]

Carnomaly is continuing to push the vehicle acquisition and financing process even further away from what might seem like the dark ages of paper checks toward a new era when cryptocurrency is the payment path. On Friday, the company announced its enhanced crypto and blockchain platform that can give consumers and dealers the ability to […] [Read More]

To say there’s a lot of data to be harnessed in an industry that moves tens of millions of vehicles (quite literally and figuratively) would be a major understatement. And as you might imagine, the data in the wholesale auto auction industry goes far beyond prices and the number of vehicles sold. That’s where the […] [Read More]

LotLinx is offering dealerships more resources to overcome what might be the most pressing challenge they’re currently facing — inventory stocking and pricing fluctuations. This week, the inventory marketing technology company released its latest whitepaper, which leverages LotLinx’s proprietary data network that has been tracking the industry’s stocking and pricing fluctuations to determine the most effective way […] [Read More]

Wholesale vehicle prices have increased for 15 consecutive weeks in Canada, according to the Canadian Auto Market Update released Tuesday by Canadian Black Book. Last week, used prices were up 0.35% overall, with trucks/SUVs up 0.36% and cars were up 0.34%, CBB said. The gain in car segments was particularly steeper, as the prior week […] [Read More]

Canada Drives added to its board of directors this week, appointing Sukhinder Singh Cassidy as lead independent director. Singh Cassidy is the former president of StubHub and has held senior leadership posts at Google, theBoardlist, Yodlee, Polyvore, Joyus and Amazon. She has been a multi-time board member and been an angel investor in such companies […] [Read More]

The pandemic didn’t slow Subprime Analytics president Ken Shilson from compiling his annual benchmarks of the buy-here, pay-here industry. In fact, in this episode of the Auto Remarketing Podcast, Shilson shared how the pandemic actually presented an opportunity to make the benchmarks even more valuable. To hear the conversation, click on the link available below, or […] [Read More]

Experts from Cox Automotive and the National Association of Federally-Insured Credit Unions (NAFCU) each digested actions and comments by the Federal Reserve on Wednesday after the Federal Open Market Committee (FOMC) voted unanimously to keep interest rates unchanged. Both experts honed in on how policymakers offered a glimpse about when their strategy could change to […] [Read More]

Used vehicles moved off dealer lots in May four days quicker than they did in January and with price tags that were more than $3,000 higher. That’s according to the latest monthly analysis from iSeeCars.com, which, among other metrics, measures how fast used cars sell, average prices, the specific models that move the quickest and the fastest-selling […] [Read More]