While Kroll Bond Rating Agency (KBRA) described credit performance during the July collection period as “solid,” the data through August released by S&P Dow Jones Indices and Experian earlier this week showed that auto defaults remain on the rise. The auto portion of the S&P/Experian Consumer Credit Default Indices climbed for the second month in […] [Read More]

As if dealers didn’t already have enough challenges amid the coronavirus pandemic, the newest information from Canadian Black Book showed wholesale and retail prices are heading in opposite directions that make the prospect of generating margins and profit even more difficult. Canadian Black Book released its newest COVID-19 Market Update earlier this week with analysts […] [Read More]

Some good news, bad news in the certified pre-owned market. After two months of improving figures, August CPO sales fell 9% year-over-year, according to Cox Automotive’s analysis of Motor Intelligence data. And they have also shown a 9% year-to-date decline through eight months. The year-to-date drop is “(r)eflecting huge decreases in March and April and […] [Read More]

More than 55.7 million recalled vehicles on the road today have not been repaired. That's a 5% increase from 52.7 million in 2019. In 2020, pickup trucks and cars are the vehicles most likely to have unfixed recalls. That information comes from annual CARFAX data, and the company on Tuesday released new recall information that […] [Read More]

This week, Dent Wizard International introduced a version of its popular AlwaysNu vehicle protection, specifically for leased vehicles. As one of the largest providers of automotive reconditioning services and vehicle protection products in North America, Dent Wizard explained that AlwaysNu Lease Protection provides protection during the lease as well as reimbursement for common turn-in charges […] [Read More]

After a couple of summertime rough spots, September is shaping up to be a strong month across the board for Sonic Automotive’s used-car operations, both within its franchised dealerships and its EchoPark Automotive standalone pre-owned stores. In an updated outlook released Tuesday, Sonic said same-store used sales for its franchised dealers so far in September are […] [Read More]

Automated imaging company Black Widow said this week that it has recently secured an infusion of cash through a third round of private equity financing totaling $1.5 million. That funding adds to the $3.5 million it raised a little less than a year ago from private investors and family offices. Black Widow said in a […] [Read More]

Saying the moves were part of its strategic restructuring and to support its next phase of growth, TrueCar made three addiitons to its executive leadership team. The company also added a new member to its board of directors. The moves included a newly created chief operating officer role, along with an appointment for the company’s […] [Read More]

Kroll Bond Rating Agency (KBRA) found more evidence that federal assistance helped the auto-finance industry since August remittance reports showed what analysts called “solid” credit performance during the July collection period. The firm’s newest report dissecting information from the auto ABS market released on Tuesday showed that early stage delinquencies — 30 to 59 days […] [Read More]

To borrow a term from one of its promotional campaigns, auto-finance underwriting is getting a boost via a new collaboration involving Experian and defi SOLUTIONS. The firms recently announced that defi SOLUTIONS has teamed with Experian to bring Experian’s Premier Attributes to auto-finance companies. As part of the collaboration, provider using defi SOLUTIONS’ loan origination […] [Read More]