Some franchised dealerships don’t have a robust new-vehicle inventory since the coronavirus pandemic disrupted the volume pipeline from automaker factories around the globe. Black Book explained how retailing certified pre-owned vehicles could be leveraged by franchised stores to get into better position for new models among other potential benefits. “For some dealers, there is additional […] [Read More]

While the acceleration of wholesale prices moving higher dipped a bit, Black Book indicated dealerships with the most robust financial resources continue to have the best opportunity to secure used-vehicle inventory during the coronavirus pandemic. Black Book specifically mentioned large operations such as CarMax and Carvana showing their “dominance in the lanes” as analysts released […] [Read More]

People are getting back to work, but not at the pace experts are projecting for the economy, tangible consumer metrics and other intangible household conditions to improve quicker. Just a small fraction of expectations, private sector employment increased by just 167,000 jobs from June to July, according to the July ADP National Employment Report, which […] [Read More]

More evidence of a shift in demand from new vehicles to used: average listing prices for used vehicles jumped more than $700 from June to July, a period in which they normally would see a depreciation-fueled decline, according to Edmunds. Specifically, used vehicles had an average listing price of $21,558 last month, which was up […] [Read More]

The coronavirus pandemic certainly has disrupted so many parts of finance-company operations. But a group of seven industry organizations, including the American Financial Services Association, is urging federal lawmakers to make sure the pandemic impact doesn’t spread to one of the most important tools for underwriting and portfolio maintenance — credit reporting. The organizations sent […] [Read More]

Separate consumer surveys by KPMG and by Ponemon Institute sponsored by ID Experts uncovered the growing concern consumers have about their personal data and privacy as more technology is leveraged. According to the survey from KPMG, 56% of Americans reported wanting more control over their personal data, and insisted that both corporations and government must […] [Read More]

Crediverso is looking to use its recently launched online presence to give Hispanic consumers information and options to make wise credit decisions. To bridge a cultural gap where U.S. banking institutions might have fallen short, Crediverso highlighted that its mobile responsive site is addressing the needs of Spanish-speaking communities with content specifically designed for the […] [Read More]

Payix co-founders Chris Chestnut and Preston Cecil made their debut on the Auto Remarketing Podcast and shared an array of observations and anecdotes from their clients about how finance companies are handling collections during the coronavirus pandemic. Chestnut and Cecil also projected what factors could impact collections most during the remainder of this turbulent year. […] [Read More]

These days, used cars take more than 37% longer to sell than they did in the four months leading up to COVID-19 pandemic, but some models — including three from Tesla — are bucking that trend, according to research from iSeeCars. For this study, the company analyzed more than 9 million new- and used-car transactions from […] [Read More]

Sonic Automotive has added a top executive from the Children’s Health System of Texas to its board of directors. The retailer announced Tuesday that Keri Kaiser, the chief marketing officer and chief experience officer at Children’s Health, is joining its board. Kaiser’s background includes more than 25 years of experience, including executive posts across various […] [Read More]