Auto dealers around the country have embraced the unthinkable during the COVID-19 pandemic. They are now offering online sales. Roughly 85% of General Motors dealers were signed up to offer the manufacturer’s “Shop Click Drive” e-commerce program by May of this year, and dealerships ranging from the massive AutoNation chain to smaller, family-owned stores have […] [Read More]

In addition to string of record sales at Hyundai Auto Canada Corp. reported here previously, more automakers shared signs of an improving certified pre-owned market in Canada. At Subaru Canada, sales are down slightly year-to-date, but the program saw a major boost in July. With 560 sales last month, certified was up 47.4% year-over-year for […] [Read More]

America’s Car-Mart recently marked the opening of its 150th dealership in one of the largest markets in Tennessee. On the last sales day of July, the chain of buy-here, pay-here dealerships began retail operations in Chattanooga, Tenn. The location is Car-Mart’s seventh dealership in Tennessee and the second store opening of its 2021 fiscal year. […] [Read More]

Some franchised dealerships don’t have a robust new-vehicle inventory since the coronavirus pandemic disrupted the volume pipeline from automaker factories around the globe. Black Book explained how retailing certified pre-owned vehicles could be leveraged by franchised stores to get into better position for new models among other potential benefits. “For some dealers, there is additional […] [Read More]

While the acceleration of wholesale prices moving higher dipped a bit, Black Book indicated dealerships with the most robust financial resources continue to have the best opportunity to secure used-vehicle inventory during the coronavirus pandemic. Black Book specifically mentioned large operations such as CarMax and Carvana showing their “dominance in the lanes” as analysts released […] [Read More]

People are getting back to work, but not at the pace experts are projecting for the economy, tangible consumer metrics and other intangible household conditions to improve quicker. Just a small fraction of expectations, private sector employment increased by just 167,000 jobs from June to July, according to the July ADP National Employment Report, which […] [Read More]

More evidence of a shift in demand from new vehicles to used: average listing prices for used vehicles jumped more than $700 from June to July, a period in which they normally would see a depreciation-fueled decline, according to Edmunds. Specifically, used vehicles had an average listing price of $21,558 last month, which was up […] [Read More]

The coronavirus pandemic certainly has disrupted so many parts of finance-company operations. But a group of seven industry organizations, including the American Financial Services Association, is urging federal lawmakers to make sure the pandemic impact doesn’t spread to one of the most important tools for underwriting and portfolio maintenance — credit reporting. The organizations sent […] [Read More]

Separate consumer surveys by KPMG and by Ponemon Institute sponsored by ID Experts uncovered the growing concern consumers have about their personal data and privacy as more technology is leveraged. According to the survey from KPMG, 56% of Americans reported wanting more control over their personal data, and insisted that both corporations and government must […] [Read More]

Crediverso is looking to use its recently launched online presence to give Hispanic consumers information and options to make wise credit decisions. To bridge a cultural gap where U.S. banking institutions might have fallen short, Crediverso highlighted that its mobile responsive site is addressing the needs of Spanish-speaking communities with content specifically designed for the […] [Read More]