This week, personal finance website WalletHub released the first quarter installment of its Auto Financing Report, pinpointing the top 25 cities where consumers hold the highest amounts of auto-finance debt when analyzed against their income. The vast majority of the cities on that list of 25 — 14 locations to be exact — can be […] [Read More]

Make it 16 weeks straight declines for both car and truck/SUV segment group values. According to Tuesday’s Canadian Auto Market Update from Canadian Black Book, car values were down 0.26% last week, truck/SUV values fell 0.17% and the overall market decline was 0.22%. Despite the continued weekly softening in prices, the year opened with the […] [Read More]

The auto industry hit some bumps in the road during 2020, but there were some bright spots, including some positives in pre-owned.  Those were evident in earnings releases as the public dealer groups began reporting full-year results this week. For instance, Lithia Motors increased its used-vehicle retail revenue by 13.4% in 2020, and sold 7.5% more used […] [Read More]

Fueled in part by several vehicle segments showing value rebounds, Black Book reported on Wednesday that its Used Vehicle Retention Index for January ticked up month-over-month, prompting experts to declare spring’s arrival in the lanes (albeit not in the chilly, post-Groundhog Day outdoors). With values for two particular vehicle segments rising more than $80 during […] [Read More]

Carvana made its Louisiana debut on Wednesday. The online retailer announced it was bringing its as-soon-as-next-day touchless home delivery to Lafayette, then made three subsequent announcements that it was launching in the Louisiana cities of Alexandria, Lake Charles and Baton Rouge, as well. In the first announcement on Carvana’s offering in Lafayette, Carvana’s founder and chief executive officer Ernie […] [Read More]

The National Automobile Dealers Association for several years has kept a tradition of making a philanthropic donation to a local organization in the city where its NADA Show takes place. Last year, for example, NADA donated $50,000 to the Nellis Support Team in Las Vegas. That nonprofit organization supports airmen and their families at Nellis […] [Read More]

More than 2,000 years ago, Greek mathematician Archimedes is credited with the finding that the shortest distance between two points is a straight line. Well, five organizations from the repossession world recently reiterated their industry position using a similar assertion that the most efficient way for finance companies to repossess vehicles and recover funds is the […] [Read More]

LotLinx has expanded its inventory marketing platform with a product that it says brings real-time pricing, demand and competitor data straight to a dealer’s desktop. LotLinx said the new artificial intelligence-powered product, called TURNX, helps eliminate digital waste and boost profit potential. The company is releasing the product during what it is describing as a […] [Read More]

Private investment firm J.C. Flowers & Co. announced on Tuesday that it has signed a definitive agreement to make a majority investment in iLendingDIRECT, a leading auto refinance marketing company. While terms of the transaction were not disclosed, J.C. Flowers said in a news release that the agreement is expected to close during the first […] [Read More]

The two primary segments of Dealertrack’s tools for dealerships and finance companies — F&I solutions and DMS — are each being upgraded to adapt to consumers’ accelerated shift toward digital purchasing as well as achieve higher efficiency and productivity in today’s digital-first environment. Beginning with Dealertrack F&I, the company announced new digital workflow and contracting […] [Read More]