More news continues to arrive on the M&A side of retail automotive, including some recent moves in two of the nation’s largest metropolitan areas.   Starting in the Midwest, Minneapolis-area retailer Walser Automotive Group announced Friday it has expanded its presence to the Chicagoland area with the purchase of Countryside, Ill., dealership Continental Nissan. The […] [Read More]

Former TrueCar vice president of product Michael Rose has joined used-vehicle platform SureSale as vice president of product development, starting with the company as it focuses on expanding the platform to help dealerships validate more of their used-vehicle inventory. SureSale describes Rose as a “veteran automotive product innovator,” and the company’s co-founder and president Jeffrey […] [Read More]

More than 70 Manheim locations have now returned to in-lane bidding via Digital Block sales, as more than a dozen have been added back in the past two weeks. That includes four resuming in-lane sales this week: Manheim Georgia, Manheim Atlanta, Manheim New Mexico and Manheim Birmingham. In the past two weeks, these auctions have […] [Read More]

Despite the obstacles created by the coronavirus pandemic, Axis Auto Finance recently reported that it set a new record for originations and two other metrics during its 2020 fiscal year that closed on June 30. The publicly traded subprime automotive finance company said its originations for the 2020 fiscal year came in at $78.7 million, […] [Read More]

Along with donating 150,000 masks to three of the largest public school districts in Texas, GM Financial recently named five regional 2019 Auction of the Year winners and the recipient of the Most Valuable Auction of the Year Award. These accolades are part of GM Financial’s annual nationwide Auction of Excellence program, recognizing the highest-performing […] [Read More]

Full-size pickups are built for hauling capability, and these particular vehicles certainly are carrying wholesale prices higher. Referenced by KAR Global chief economist Tom Kontos, as well, Black Book senior vice president data science Alex Yurchenko described what full-size pickups did to wholesale prices as Black Book shared its Used Vehicle Retention Index for September. […] [Read More]

Synthetic identity fraud is an issue that has grown in complexity over the years and continues to be problematic with auto dealers and lenders alike. Because of its complex nature, The Federal Reserve reported recently that experts suggest a “comprehensive approach” for ongoing risk mitigation. The Federal Reserve report cited data that shows synthetic identities […] [Read More]

The Supreme Court began its term on Monday with plenty of turmoil swirling following the passing of Justice Ruth Bader Ginsburg in September and the U.S. Senate wrangling over how quickly the highest court goes back to nine members. Nonetheless, Hudson Cook partner Mark Rooney said the Supreme Court will consider several cases affecting the consumer […] [Read More]

Officials from 3530 Technologies recently broadened their partnership with Carleton, integrating CarletonCalcs and CarletonDocs API components into their software solutions and services for consumer and business lending. According to a news release, this new partnership expands CreditCore — 3530 Technologies loan origination solution(LOS) — to support direct lenders with comprehensive electronic documents and accurate and compliant […] [Read More]

It’s almost certain that 2020 will not be another record year for the certified pre-owned vehicle market, and annual CPO sales are likely to fall about 7% from where they finished 2019, the ninth straight best-ever year. But right now, certified is the hottest part of the auto retail market, analysts said during Cox Automotive’s […] [Read More]