AUL Corp. recently launched an upgrade to its portfolio of services — an augmented quote and sales portal for agents, dealers and finance companies. AUL chief information officer and chief operating officer Jose Fleites explained the new portal can deliver an easy to use navigation and the ability to rate and generate multiple products at […] [Read More]

GWC Warranty recently joined the National Independent Automobile Dealers Association as a Gold-Level National Corporate Partner. As a Gold-level NCP, GWC Warranty is recognized as one of the NIADA’s most trusted resources, with a proven track record of quality and excellence as a provider of F&I solutions for used vehicles. Officials reiterated the National Corporate […] [Read More]

Maxwell and Graves Solutions (M&G Solutions) recently announced a partnership Remitter, which offers a white-labeled SMS and email communications platform powered by artificial intelligence and used by providers in the financial services industry to improve collection and recoveries performance. Officials highlighted the partnership between M&G Solutions and Remitter will further add to Remitter’s expertise in […] [Read More]

It has been another tough month for used-vehicle sales, though some positive signs are emerging. First, the full-month forecast. TrueCar’s ALG business unit is forecasting a 71% year-over-year decline in used-car sales in April, projecting a monthly tally of 1,086,494 used sales. That would also represent a 60% month-over-month decline. Franchised dealers, specifically, sold a […] [Read More]

Saying that it “heard what truly mattered to our customers,” floorplan provider NextGear Capital is continuing to defer curtailment and extension payments for eligible floorplan advances. The company is taking that action through May 31 for all NextGear Capital dealers in good standing. Within the first 30 days of NextGear Capital’s original relief package, the […] [Read More]

Here’s at least one segment of the automotive industry that’s remaining relatively steady amid the coronavirus pandemic. On Thursday, Swapalease.com reported its vehicle-lease credit applicants registered an approval rate in March of 69.3%, representing just a slight decline from the February rate of 72.3% and January’s reading of 70%. March also generated a slight decrease […] [Read More]

All of CarMax’s more than 215 stores nationwide are now open in some capacity. The company announced that all stores are serving customers in need of vehicle service or repair work. In addition, more than 80% of CarMax’s stores across the country are serving customers needing to buy or sell a vehicle. CarMax said it […] [Read More]

This week, Federal Trade Commission chairman Joe Simons released a summary of the agency’s 2019 annual highlights, calling attention to the commission’s ongoing efforts to protect consumers and promote a competitive marketplace. By far the largest sum included among the judgments the FCC specified in the monetary relief category stemmed from the settlement federal officials […] [Read More]

Along with four overall observations and projections about sagging used-vehicle values, Edmunds senior manager of insights Ivan Drury also pointed out the impact made by what he called the “invisible market.” Drury and Edmunds’ other analysts say that a sudden halt in demand for vehicles combined with economic uncertainty will lead to an initial knee-jerk […] [Read More]

As a whole, the used-car market is struggling. But data from LotLinx shows a silver lining. "Bad news is, sales are down 50% in used across the country," says LotLinx CEO Len Short. "But when you start to drill down to the markets, you'll see that there are a whole bunch — over half — […] [Read More]