With a dealership offering tools for online payments, trade-in and financing still being greatly wanted by consumers, TrueCar’s latest shopper study also growing concern about individuals being able to afford their purchase. On Monday, TrueCar released the fifth wave of its study into the impact of the pandemic on vehicle shopping and vehicle shoppers’ needs, […] [Read More]

With an eye on growth in the cloud and beyond, Equifax on Friday named Sunil Bindal as senior vice president of corporate development, effective immediately. In this critical role, the company said Bindal will report to Equifax chief executive officer Mark Begor and serve on its global senior leadership team. An established leader in mergers […] [Read More]

In a positive sign for Canada’s used-car market, at least two automakers are reporting record certified pre-owned sales. Mercedes-Benz Canada, for example, had record CPO sales in July, August and September, the company said when reporting quarterly sales results. It also hit record CPO penetration rates during each of these months. Mercedes-Benz moved 4,119 certified […] [Read More]

NADA Show 2021 is going virtual. The National Automobile Dealers Association announced Monday that its annual convention and expo, previously scheduled for January in New Orleans, is moving online and will run Feb. 9-11. “Dealers are both incredibly resilient and incredibly optimistic. Their resiliency has been proven time and again this year. So too has […] [Read More]

The U.S. Patent and Trademark Office awarded a patent to global digital marketplace IAA for an “Automatic Dispatch System for Tow Service Providers,” and IAA said the technology “streamlines the recovery process for total loss vehicles.” IAA filed for the patent in May, and it was approved in August. The patent, under U.S. Patent No. […] [Read More]

Tesla’s strong growth in the electric vehicle market is no secret, and that is also the case when considering used electric vehicles. A recent iSeeCars study of the most popular used electric vehicles by state provides more evidence of that. But in the category of used EVs by market share, the Tesla Model S comes in […] [Read More]

There’s been a change in the top leadership position at defi SOLUTIONS. On Friday, the company that partners with captives, banks, credit unions and finance companies to help them transform their operations announced the appointment of Tom Allanson as chief executive officer. According to a news release, Allanson will succeed Bret Leech, who is stepping […] [Read More]

The week closed with some positive news for dealerships that received a Paycheck Protection Program (PPP) loan of $50,000 or less. Late Thursday, the U.S. Small Business Administration, in consultation with the Treasury Department, released what officials described as a simpler loan forgiveness application for operators who received that amount of funds. Leadership of both […] [Read More]

Particularly in the COVID-19 era, the importance and growing presence of simulcast auction sales cannot be overstated. From corporate giants to independents, the ability to simulcast is a necessity in the tool belt of an auto auction.    Digital-leaning wholesale may now be ubiquitous, but it has been years — decades, even — in the making.    […] [Read More]

Quite an example of public negotiating surfaced on Thursday, with a subprime auto finance company that’s been in operation for nearly 30 years being called “significantly undervalued.” Auto Experience, a firm led by one of the founders of Exeter Finance and created in 2018 to pursue strategic business opportunities in the auto financing market, announced […] [Read More]