In what appears to be a growing pattern among the public retailers reporting earnings results thus far, Penske Automotive Group had lower used-vehicle retail volume, but their pre-owned operations were more profitable. Below is a rundown of some of the used-car specifics in the group’s retail automotive operations results shared in its latest earnings report. Overall […] [Read More]

A legal expert who has appeared multiple times at Used Car Week and other industry events now is the newest partner at Venable. The law firm with locations in six states and the nation’s capital announced this week that Allen Denson has joined the firm as a partner in its financial services practice at its Washington, […] [Read More]

Fueled by 14.7% growth year-over-year, Westlake Technology Holdings reported this week that the finance company with a diversified portfolio beyond just subprime paper ended 2020 with $12.14 billion in total managed assets. Westlake highlighted nine other major achievements generated by its various divisions, including: • Westlake Financial continued its strong push in prime credit financing […] [Read More]

The auto industry has been very rewarding for Jaime Drabzcak. “So what I would say to anybody considering it: Try it. You probably will fall in love with it,” said Drabzcak, who is general manager of Morrie’s Automotive Group in Minnetonka, Minn. Drabzcak made those comments as part of a video submission from her dealer […] [Read More]

Industry associations are looking to bring some semblance of normalcy this year. Within days of the American Recovery Association rescheduling its two largest events to October with the intention of them being in person, the National Automotive Finance Association set dates for the Non-Prime Auto Financing Conference to be a face-to-face event. The 25th annual […] [Read More]

A new partnership will bring Privacy4Cars’ patent-pending process for the deletion of personal information from modern vehicles to the European market for the first time. The partnership is between Privacy4Cars — which is a platform to help erase personal information including phone numbers, call logs, location history and garage door codes from modern vehicles — […] [Read More]

Saying that the newly created position is in response to its growing key business, Dent Wizard International will promote Cory Lyda to vice president of key operations. The company said its key business has seen strong growth in recent years since it began as a service for major North American auction businesses. Since then, the […] [Read More]

Without financial resources, buy-here, pay-here dealerships likely wouldn’t exist since it’s such a high-risk, cash-dependent piece of the automotive industry. And for the second time in the past couple of months, Agora Data added to its suite of market-disruptive capabilities to address that critical ingredient to operator success. This week, the firm announced the rollout […] [Read More]

On Wednesday, Dave Uejio — the acting director of the Consumer Financial Protection Bureau — said he met with staff from the regulator's Division of Consumer Education and External Affairs (CEEA). Among the findings and directives originating from last week's gathering, Uejio described how the financial services sector has been responding to consumer complaints, which he […] [Read More]

Ford has partnered with its dealers to launch a digital used-vehicle marketplace, powered by Autotrader, that provides an expanded selection of Ford certified pre-owned vehicles and a more streamlined, flexible way for used-car shoppers and the automaker’s dealers to connect. With this Ford Blue Advantage platform, launching Thursday during NADA Show 2021, Ford dealers can […] [Read More]