Through Sunday, month-to-date used-vehicle retail sales for franchised dealers are off 15% from pre-virus forecasts, according to J.D. Power. But there’s actually some good news to unpack from that, including one particular retailer that anticipates being back to original expectations for used sales by July. Here is that silver lining from J.D. Power: Not only is […] [Read More]

Many business practices and processes that were common for automotive reconditioning businesses just weeks ago are no longer advised, and they may not even be possible. For those businesses such as PDR, wheel repair, paint, glass, interiors, detailing  or SMART repairs, the current global health crisis is unsettling, says auto reconditioning software company AutoMobile Technologies, […] [Read More]

In this episode of the Auto Remarketing Podcast, Cherokee Media Group president Bill Zadeits chats with John Possumato, founder and chief executive officer of DriveItAway. Possumato talks about "an accelerated evolution of innovation" spurred by the business impact of COVID-19, his take on Carvana and Vroom, and more. Plus, he explores the advantages dealers may have […] [Read More]

Through a new partnership between tech-enabled automotive logistics and services company ACERTUS and auto inventory management platform company AutoIMS, ACERTUS will be able to connect to AutoIMS as a logistics provider. According to the companies, that will connect automotive auction and consignment shippers to capacity of pre-approved, vetted carriers representing 20,000 trucks. ACERTUS co-founder and […] [Read More]

Editor’s note: This commentary is the second in a series compiled by Joel Kennedy, who is the current president of the National Automotive Finance Association and board adviser at TruDecision, looking at the intricacies of repossessions and recovery. The first segment is available here. I founded an auto-finance business during the peak of the Great Recession […] [Read More]

LAUNCHER.SOLUTIONS (Launcher) entered the credit-union world on Tuesday to offers a solution the company believes can work exceptionally well in both the prime and the subprime market with regard to risk assessment and complex workflows. The technology provider specializing in loan originations announced that it now can serve credit unions market with its configurable loan […] [Read More]

The COVID-19 pandemic and government measures to slow its spread are altering the way Americans bank, pay and shop on an unprecedented scale and with rapid speed, according to a survey recently released by financial services technology provider FIS. J.D. Power pointed out that banks have been confronting a difficult paradox for the last several […] [Read More]

Personnel within one of the most important dealership departments still need help as the coronavirus pandemic continues. Organizers of the F&I Providers Relief Fund for F&I managers have raised more than $500,000 in only about a month — half of its $1 million fundraising goal — but the board is still looking for donors to […] [Read More]

On Tuesday, Santander Consumer USA Holdings finalized a voluntary settlement topping $550 million with 33 states and the District of Columbia that alleged that contracts that the finance company funded through certain dealers dating back to 2010 violated consumer protection laws because of the high risk that certain individuals would default. Officials said SCUSA has […] [Read More]

In the current COVID-19 crisis environment, Cars.com is seeing more people considering buying a vehicle, as many view their car purchase as a much-needed escape and safe mode of transportation, said Cars.com editor-in-chief Jenni Newman. “The good news is, consumers no longer have to leave their home to purchase a vehicle, as we’ve seen thousands […] [Read More]