Among the many intriguing findings from the Swapalease Q4 Lease Report, not only are consumers becoming more interested in leasing a Tesla, they appeared to be driving more in general judging by the softening amount of mileage left on a lease contract up for a takeover. Analysts determined consumer searches for Tesla vehicles on the […] [Read More]

The TradeRev and BacklotCars online dealer-to-dealer platforms are being combined into one marketplace, parent company KAR Global said Wednesday. U.S. dealers are moving from TradeRev to BacklotCars. Meantime, the company’s Canadian dealer customers will continue to use the TradeRev platform exclusively, KAR said. That migration began on Feb. 1 with the hope of it being […] [Read More]

Annette Sykora said providing assistance is an auto industry hallmark. Sykora, who is chair of the NADA Foundation and dealer principal of Smith South Plains Ford Lincoln in Levelland, Texas, was discussing a recent $25,000 donation from global lifestyle and housing services provider Assurant to the National Automobile Dealers Association Foundation’s Emergency Relief Fund. “The Emergency […] [Read More]

Continuing efforts to help build a strong pipeline of minority talent for the automotive industry, CDK Global and the National Association of Minority Automobile Dealers, or NAMAD, have opened the application process for an annual scholarship program. The program is called the Fueling Careers Scholarship Program, and it is the fifth year of the program. […] [Read More]

Through the use of Manheim’s advanced upstream remarketing platform, VW Credit has officially launched the new VolkswagenDirect and AudiDirect sites. Manheim said that with the integration of the sites into the Manheim Marketplace, VW Credit gains a seamless method of offering unsold pre-owned vehicles to Manheim’s base of franchise and independent buyers. Franchise dealers using […] [Read More]

Lightico is continuing its efforts to use technology as the conduit for making financing easier for consumers to secure and use. The previous Emerging 8 honoree announced the launch of its instant consent on terms and conditions solution, which is designed to replace the tedious and inaccurate reading of T&Cs with digital clickwrap. Lightico explained […] [Read More]

Diversification continues to be an apt adjective to describe Westlake Technology Holdings. Less than a week after highlighting the annual growth of its diverse, $12 billion portfolio, Westlake and Nowcom Corp. launched a fintech company on Tuesday named NowLake Technology. The companies explained in a news release that NowLake was born from the close relationship between Westlake […] [Read More]

Nicholas Financial president and chief executive officer Doug Marohn is back on the podcast for a discussion about the pandemic, fraud and the vitality of the subprime auto finance market. To listen to this episode, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  […] [Read More]

S&P Global Ratings is observing what it dubbed “generally better-than-expected loss results,” according to its latest report on the auto loan ABS market. And analysts gave an upbeat forecast for the trends to continue this year as unemployment levels tick lower and the pandemic gradually subsides because of vaccine distribution. “The generally better-than-expected loss results, […] [Read More]

AutoNation sold fewer retail used vehicles last year, but closed 2020 with a bump in pre-owned sales during the fourth quarter. And the dealer group’s used-vehicle retail sales were more profitable. Here’s a recap of some of the used-car specifics in AutoNation’s full-year and Q4 earnings released Tuesday, including what it has in store for […] [Read More]