Kroll Bond Rating Agency (KBRA) acknowledged its March prime and non-prime auto loan ABS indices don’t yet reflect the depths of how the automotive asset backed securities market might be impacted by the coronavirus pandemic. Auto securitizations showed improving credit metrics stemming from March servicer reports connected to the February collection period. The annualized net […] [Read More]

A new exclusive agreement between IAA and NASCAR Enterprises LLC allows IAA to use NASCAR facilities for total loss vehicle storage after a catastrophe. IAA said the agreement further increases its catastrophe capacity footprint and expands an already long-term relationship between the two organizations. In addition to the company’s other catastrophe acreage, the 14 NASCAR […] [Read More]

Canadian Black Book and TRADER Corp. each generated data and information this week aimed at uncovering just how significant the impact the COVID-19 pandemic has been on the country’s automotive wholesale and retail segments. The results from both firms showed dramatic declines, especially with many auctions and dealerships forced to cease activities as authorities try to […] [Read More]

As much disheartening data surfaces nowadays connected with the coronavirus pandemic, results from the newest National Independent Automobile Dealers Association member survey offered some upbeat information. According to the results released on Wednesday, NIADA highlighted independent dealers, for the most part, remain open for business — one way or another — and almost half of […] [Read More]

Driveways and parking lots often are the location for auto financing documents to be completed nowadays, not necessarily an F&I office at the dealership. To help finance companies and dealers transact with less face-to-face interaction and fewer employees on site during these unprecedented times, Dealertrack is unveiling new enhancements to its F&I platform. According to […] [Read More]

EFG Companies chief revenue officer Eric Fifield acknowledged the issue during a phone conversation with SubPrime Auto Finance News last week. “Negative equity was a problem before, and it’s only going to be exasperated now,” Fifield said as the company again rolled out a program to help vehicle buyers handle negative equity if they encounter […] [Read More]

Predictive analytics and marketing automation company automotiveMastermind is re-deploying sales and business development managers to prospect on behalf of dealer partners. The company said the move demonstrates its support and commitment to dealerships during the COVID-19 crisis. automotiveMastermind said the virtual business development center program is currently piloting with 215 U.S. stores. The company announced […] [Read More]

Porsche Cars Canada is extending its roadside assistance services to include the approximately 235,000 Ontario hospital front-line workers. The extension is aimed toward benefiting doctors, nurses and respiratory therapists, and will be in effect until May 31. The program is aimed toward assisting those who might be experiencing a roadside event, regardless of the brand of […] [Read More]

Note: This and all Women & Automotive Profiles in Leadership feature stories were compiled prior to the COVID-19 pandemic's most severe impacts in North America. Human resources, strategies for a happier, healthier workplace, the tools managers use to facilitate programs that make the workplace tick, and more. These have all changed drastically in the past 20 […] [Read More]

Used-car inventory levels at dealerships in the major cities most impacted by COVID-19 are, for the most part, climbing — including a big spike to begin April. That’s according to a data analysis from CarStory, which continues to track the auto market effects from the pandemic throughout the country, including the most heavily affected cities […] [Read More]