August 2022

Daniel Parry did not seek to have an economic or political argument about whether the U.S. is officially in a recession. Rather, the co-founder and chief executive officer of TruDecision maintained that risk is in play no matter how well the economy may or may not be doing. Parry pointed out more than a half dozen data points that company decisionmakers could watch to make informed choices. Then, Parry shared a trio of recommendations he’s offered to other clients of his fintech company that’s focused on bringing competitive advantages to… Read More »Parry shares 3 recommendations no matter if recessionary conditions are happening

In this edition of Auciton News Roundup, we spotlight three particular charitable endeavors among auto auctions.  And we begin in the Lone Star State. Alliance Auto Auction, a Texas-based group of five physical auto auctions and two digital platforms, said it has raised more than $50,000 this year for CitySquare Abilene Project and Simply Sparrow Care Farm. The former provides a guidance center for high-risk, homeless teens, and the latter offers educational and therapeutic services to help those living with PTSD and trauma-related issues.  “Each quarter, one of our auction… Read More »Auction news roundup: Latest philanthropy in wholesale automotive

Monday, Aug. 01, 2022, 04:17 PM Within Sonic Automotive’s EchoPark used-car store program, second-quarter revenues hit $665.6 million, an all-time high and a 12% year-over-year increase. On the other hand, EchoPark retail used-vehicle unit sales volume of 16,608 was down 22% year-over-year. During the Q&A portion of the retailer’s earnings call, participants asked … Source Article

Monday, Aug. 01, 2022, 03:58 PM The end of Lithia & Driveway’s second quarter came with good news for the publicly traded company. The retailer reported the highest Q2 revenue and earnings per share in company history ($0.42 per share for the second quarter). Lithia’s Q2 revenue was … Source Article

Monday, Aug. 01, 2022, 03:44 PM Autonomy continues to expand its electric vehicle subscription operation, as last week the company enhanced its EV lineup to include the Tesla Model Y Long Range. After forging a relationship with AutoNation, Autonomy now offers the Tesla Model 3 Standard and Long Range, as well as the Model Y Long Range, which has monthly payment as low as $690 a month (with a $7,900 start fee) or up to $1,350 per month (with a $1,000 start fee and no vehicle upgrades). “Autonomy has met… Read More »Tesla Model Y now part of Autonomy’s EV subscription service

CreditMiner and TransUnion now are working together to stop auto finance fraud from happening, beginning with what can happen at dealerships. Last week, the firms announced a new partnership to protect the automotive industry from high dollar losses from synthetic fraud via an application programming interface (API). CreditMiner and TransUnion said through a news release that dealerships nationwide now can identify fraudsters, potentially eliminating losses by properly identifying high risk consumers. “Incidence of synthetic fraud in auto lending has grown faster than any other financial sector as we emerge from the… Read More »CreditMiner & TransUnion partner to curb synthetic fraud