Among other factors, strong used-vehicle operations helped AutoCanada notch a solid third quarter, according to quarterly results announced by the retailer last week. Looking at the consolidated operational data, AutoCanada (which operates in both the US and Canada) retailed 8,836 used vehicles during the quarter, up 19.7% year-over-year. It sold 7,994 used vehicles in Canada […] [Read More]

The live sessions at Used Car Week, which began Monday with the concurrent Auto Fin Con and NAF Association events, continue Wednesday with a full slate of great presentations and panels. The virtual expo hall opens at 11 a.m. (ET), and the day gets rolling in earnest at noon with opening comments from Cherokee Media […] [Read More]

As the new chief digital officer for automotive logistics and services company ACERTUS, Blair Koch will lead digital transformation for the company. In the newly created position, Koch will support ACERTUS’s ongoing mission to lead the way in automotive logistics innovation. The company said the appointment comes at a time when it is experiencing expansion […] [Read More]

A buy-here, pay-here operator with four locations in the Chicagoland area evidently enjoyed a “small miracle” with the aid of TurboPass. Earlier this year, Chicago Car Center began using TurboPass reports to streamline the verification process in all of its locations in order to help its buyers get qualified for the right vehicle and the […] [Read More]

While bankruptcy filings continue to be lower year-over-year, leadership of the American Bankruptcy Institute is maintaining that cases are likely to spike as both businesses and consumers continue to navigate pandemic-created financial challenges. According to data provided by Epiq Systems, total U.S. bankruptcy filings in October decreased 41% year-over-year. The 40,209 total filings in October dropped […] [Read More]

Buick ranked as the top mainstream brand and Jaguar won in the premium brand category as future vehicle value forecaster ALG named the winners of the 2021 Pre-Owned Value Awards, or POVAs. ALG, which is the analytics subsidiary of TrueCar Inc., awarded its 2021 POVAs to vehicles with the lowest forecast depreciation from two to […] [Read More]

Not only were certified pre-owned vehicle sales up 1% year-over-year in October, they snapped a three-month streak of month-over-month declines. That’s according to a Cox Automotive analysis of Motor Intelligence data, which indicated there were 233,514 CPO sales in October. That beats September figures by 4%. And the CPO market has now shown year-over-year gains […] [Read More]

When Larry H. Miller Dealerships learned that students attending schools within the Avondale Elementary School District needed school supplies, the company was eager to help. “Finding a need in the community and gathering together to fulfill the need is embedded in our company culture, but it’s also a part of who we are individually," Larry […] [Read More]

Should federal regulators give the same approvals both company boards already have, PNC Bank is set to become the fifth-largest bank in the U.S. based on assets and deposits. On Monday morning, PNC Financial Services Group and the Spanish financial group, Banco Bilbao Vizcaya Argentaria (BBVA) announced that they have signed a definitive agreement for […] [Read More]

S&P Global Ratings spotted yet another difference between the prime and subprime auto finance segments. In September, analysts discovered new extension rates between U.S. prime and subprime auto loan asset-backed securities (ABS) diverged. For public shelves with 17 issuers, S&P Global Ratings reported the prime segment posted its fifth consecutive month of declines in extensions, […] [Read More]