The Consumer Financial Protection Bureau issued a consent order in the auto-finance industry for the second time in less than a month; this time with Nissan’s captive. According to a news release distributed on Tuesday, the bureau said it found several violations by Nissan Motor Acceptance Corp. (NMAC) in connection with vehicle repossessions, including: — […] [Read More]

Mirroring the trend in the new-vehicle market, interest in the used-vehicle market has gone up since the start of the COVID-19 pandemic. Media planning company Comscore analyzed online used-car marketplace Carvana, noting that 58% more visitors viewed the Carvana site than one year earlier. Comscore also stated a “sustained lift” has taken place from the […] [Read More]

Within a month of announcing plans to roll out an app to take advantage of consumers’ growing interest in vehicle subscriptions among other online activities, LMP Automotive Holdings made another significant move to get deeper into the dealership world. On Monday, the e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for […] [Read More]

Manheim has expanded its mobile auction network, with a new mobile sale launching Wednesday in Rochester, N.Y. The company is conducting the Manheim Rochester site in partnership with Bob Johnson Automotive Group. Manheim Rochester, which was previously Central Auto Auction, is the auction company’s first physical presence in the area. (A Manheim spokesperson confirmed that […] [Read More]

Tex Earnhardt loved children and was passionate about setting them up for success. He was only 20 years old when he started Earnhardt Auto Centers in Chandler, and he went on to lead the business for 60 years. Earnhardt died in April, and Earnhardt Auto Centers, a multi-generational family business with 21 dealerships representing 17 […] [Read More]

Mark Vickery, who is senior director of performance management at Cox Automotive, joins the Auto Remarketing Podcast to talk about digital automotive retail, dealer training, what 2021 may have in store and more. Plus, Vickery recaps his recent conversation with NBA Hall of Famer Magic Johnson, who is a speaker at the company's Forward Focus 2020 […] [Read More]

Fiat Chrysler Automobiles (FCA) says the annual Women of Color in Science, Technology, Engineering, and Math (STEM) Conference honored four FCA technical business leaders for their career achievements. The winners were honored in the categories of Technology All-Star Award and Technology Rising Star Award. The Technology All-Star Award recognizes professionals demonstrating “excellence in the workplace […] [Read More]

UPDATE: A previous edition of this story indicated the shares would start trading  on Wednesday. Shift has since issued a corrected news indicating they would start on Thursday. It’s official: Shift becomes a public company on Thursday, as its Class A common stock will start trading on Nasdaq. The previously announced merger between the used-car ecommerce […] [Read More]

An executive previously honored as one of the industry’s Movers & Shakers by SubPrime Auto Finance News now is the president of the Prestige Financial Services. The business enterprise group within the Larry H. Miller Group of Companies will be led by Richard Hyde, who is being asked to oversee the PFS business operations, lead strategy […] [Read More]

Byrider didn’t let the pandemic slow its effort to raise money for the American Heart Association. The network of buy-here, pay-here dealerships recently announced it has raised more than $38,000 for the American Heart Association’s 29th annual Indianapolis Heart Walk and 5K. This year marks 20 years Byrider has participated in the Indianapolis Heart Walk […] [Read More]