United Auto Credit has shared its 2020 Auction of the Year winner, and earning the annual award is Louisiana’s 1st Choice Auto Auction. The company said its annual award considers all pieces of the remarketing process, including metrics like recovery percentage, conversion percentage, reporting accuracy and auction efficiencies, the latter measured by transport time, condition […] [Read More]

Automotive F&I products provider and administrator APCO Holdings announced initiatives to improve diversity and equity within the company, including the formation of a diversity and inclusion council that has launched new inclusion and unconscious bias training courses required for all employees. APCO said the company plans to continue building a stronger culture of inclusion. “As […] [Read More]

An hour after President Joe Biden took the oath of office on Wednesday, Kathleen Kraninger resigned as director of the Consumer Financial Protection Bureau. Kraninger said in a post on Twitter along with her resignation letter: “As requested by the Biden administration, today I resigned as director of the CFPB. I am proud of all […] [Read More]

Haig Partners said Tuesday it has hired former AutoNation executive Pete Thiel as managing director. Thiel was most recently vice president of corporate development for the publicly traded retailer, where he headed up AutoNation’s acquisitions and divestitures. He was with AutoNation for more than 20 years. “As the leading buy-sell advisory firm to dealers, we […] [Read More]

 The new year is here, but for many people, COVID-19 continues to have an economic impact, said David Wurster, president of data company, Vincentric. “It's more important than ever to make informed and intelligent financial decisions,” Wurster said in a news release. To help consumers do that, Vincentric named the winners of its 17th annual […] [Read More]

A new report by TransUnion and Aite Group examined the entire collections world, highlighting that outstanding balances in all credit segments declined by more than $8 billion from the end of 2019 to the midpoint of 2020. And experts see more changes on the horizon, especially when considering how the pandemic pushed industry consolidation. The report […] [Read More]

It is certainly an understatement to say the world has been turned on to online shopping and digital retailing. According to Adobe Analytics, during the 2020 Black Friday event, online sales increased 22% over the previous year. What’s more, the National Retail Federation expected this year’s online holiday sales totals would increase 20% and reach […] [Read More]

Volta certainly recharged its finances to begin 2021. The Emerging 8 honoree previously highlighted in Auto Fin Journal and developer of commerce-centric electric vehicle charging networks announced an oversubscribed Series D financing of $125 million. Volta said this week that Goldman Sachs acted as exclusive placement agent to the company in connection with the financing. Volta […] [Read More]

Several industry forecasts already have been released, including one focused on overall used-vehicle sales, retailing of certified pre-owned models as well as the potential swelling of repossessions. This week, six executives from EFG Companies shared their expectations for how the first half of 2021 might unfold in the F&I space. The group acknowledged several market […] [Read More]

As we enter a new year, the occasion often allows us some time to reflect on the old and celebrate the new. I’m happy to say that with the January edition of Auto Remarketing, we do both! This year signals the hallmark 30th anniversary of this publication that is focused on providing great information and […] [Read More]