For what it’s worth amid so much uncertainty nowadays triggered by the coronavirus pandemic, auto-finance defaults are at the lowest point recorded by S&P Dow Jones Indices and Experian going back 10 years. According the data through June released on Tuesday morning, the auto portion of the S&P/Experian Consumer Credit Default Indices dropped 16 basis […] [Read More]

Based on the first half of July, the Manheim Used Vehicle Value Index is on pace to set an all-time record for the second straight month. That’s according to a mid-month update from parent company Cox Automotive, which said wholesale vehicle prices through July 15 were up 4.4% from June. The mid-month reading of the […] [Read More]

Manheim added six more locations to its in-lane bidding pilot program on Monday, but pushed back the pilot of another. All told, Manheim now has 35 auction locations piloting in-lane bidding. A company spokesperson said via email that added to the pilot this week are: Manheim El Paso Manheim Hawaii Manheim Louisville Manheim New England […] [Read More]

Similar to how other organizations have had to do with their in-person events, the National Independent Automobile Dealers Association is taking its annual showcase to the digital world. According to an announcement distributed late on Friday, the 2020 NIADA|NABD Convention and Expo is going fully virtual. Due to ongoing and recent developments in the COVID-19 […] [Read More]

Warren Henry Auto Group is grooming future automotive technicians who still are high-school students. The group that’s been in business since 1976, recently announced the new Warren Henry Technician program in partnership with Miami Dade Public Schools. With this initiative, Warren Henry is hoping to reduce the current shortage of technicians in south Florida and […] [Read More]

Kroll Bond Rating Agency (KBRA) and S&P Global Ratings continued to use their examinations of the U.S. auto loan asset-backed securities (ABS) market to offer a look not only at that particular segment but also views on what the overall health of auto financing might be. Beginning with S&P Global Ratings, analysts there said May […] [Read More]

Last week, Nacha highlighted how much electronic financial transactions jumped year-over-year during the second quarter, triggered in part by the coronavirus pandemic. The steward of the ACH Network, a payment system that universally connects all U.S. bank accounts and facilitates the movement of money and information, reported that Q2 ACH payment volume grew 7.9% compared […] [Read More]

Sheehy Auto Stores is again looking to support the American Heart Association through a program happening at all of its dealerships. On Friday, the company announced the beginning of the 23rd annual Sheehy 8000 Sales Race, a community-wide initiative in which all 29 Sheehy dealerships sell vehicles while raising awareness and funds to benefit the […] [Read More]

An executive who began his professional career in the trenches at a dealership now is the vice president of business development of CarLabs.ai, an artificial intelligence-powered, conversational engagement platform designed to successfully implement and personalize sales and customer service via chat on social channels, websites, voice and other messaging channels. Named to this post this […] [Read More]

This past week, CU Direct announced a new integration with VinSolutions automotive CRM, creating what the tech firms believe are six benefits for dealership F&I offices. As a result of the collaboration, CU Direct has expanded its CUDL auto financing platform’s DMS/CRM integration solution to include VinSolutions. The developer of lending software technology for the […] [Read More]