Nicholas Financial solidified two of its highest leadership positions this week. The subprime auto finance company announced the appointment of Irina Nashtatik as chief financial officer; a role she had been filing in an interim capacity since November. Nicholas Financial also announced the extension of its employment agreement with president and chief executive officer Doug […] [Read More]

The Spiffy model is now allowing franchising of its on-demand car care, technology and services model. The company, which currently operates in 17 metropolitan areas, announced Thursday that it will start accepting franchise licenses in new markets. “We started Spiffy six years ago with the idea to leverage digital technologies to disrupt the existing automotive […] [Read More]

CarMax plans on finishing the rollout of its omni-channel experience — which allows consumers to tailor their car-buying and delivery experience — by the end of next month. This was among a range of updates shared via email by the nation’s largest used-car retailer, which this spring also added a CarMax Curbside option to its […] [Read More]

On July 1, 1941 at 2:29 p.m., the first television commercial appeared on screens across the United States. Bulova, a watch company, aired their 10-second commercial at a cost of $9 prior to a Brooklyn Dodgers and Philadelphia Phillies baseball game. During the last Super Bowl, companies paid $5.6 million for a 30-second spot. Just […] [Read More]

Davis & Gilbert partner Joseph Cioffi makes another podcast appearance to offer more insights about the Credit Chronometer report that surveyed executives from throughout the subprime auto finance sector about the space’s prospects to navigate through the coronavirus pandemic. What Cioffi uncovered was the vast majority of survey participants remain upbeat, and he tells senior […] [Read More]

A Midwest franchised dealer group with its own finance company finalized a partnership with Inovatec Systems Corp. on Wednesday. The provider of cloud-based software solutions for all financial institutions now has a relationship with Wisconsin Consumer Credit, the financial arm of the Van Horn Automotive Group with 16 dealership locations throughout Wisconsin and Iowa.  According […] [Read More]

Perhaps accelerated by the coronavirus pandemic, electronic signatures and other fintech developments now are being utilized more frequently in connection with vehicles that end up being scrapped or dissembled for parts. Dealertrack and IAA recapped on Thursday that the General Assembly of North Carolina has amended its laws governing the title transfer of salvage vehicles […] [Read More]

Dilawri Group of Companies has added its first Lexus dealership. And its first store in the Laval market. The automotive group announced Wednesday it purchased Lexus Laval in Quebec, putting Dilawri’s dealership count up to 75. The store, located at 2000 Boulevard Chomedey in Laval, was founded in 1996 and includes a 10-vehicle showroom and […] [Read More]

Wholesale vehicle prices climbed to an all-time high in June, according to Cox Automotive, which said Wednesday the company’s Manheim Used Vehicle Value Index was a record 149.3 for the month. But don’t expect these highs in used-car values to last. More on that later, but for June’s purposes, the Manheim index was up 6.3% year-over-year. […] [Read More]

Auctions are pushing more vehicles through the wholesale system. Dealerships are seeing increases in retail-vehicle sales. Finance companies are building their portfolios, too. Might seem like a pandemic isn’t even impacting daily life, right? While the automotive industry has been a bright spot in recent weeks, an array of business owners, economic experts and policymakers […] [Read More]