CARY, N.C. –  Experian’s closing installment of its State of the Automotive Finance Market report for 2018 indicated vehicles with the highest market share for new-model leasing included SUVs like the Chevrolet Equinox, Toyota RAV4, Nissan Rogue and Jeep Grand Cherokee as well as Honda’s popular sedans, the Civic and Accord. Those particular vehicles could be part of Black Book’s projected used-vehicle supply swell of more than 560,000 additional 3-year-old units surfacing during the second half of 2020 and into the first part of 2021. However, there’s one potential catch for… Read More »Potential catch for dealers regarding projected growth of off-lease volume

CARY, N.C. –  According to Experian’s latest State of Alternative Credit Data report, 80% of consumers feel including items such as utility or mobile phone payment history would have a positive impact on their credit score. And nearly 90% of finance believe alternative credit data allows them to extend credit to more consumers. Experian vice president of data business Alpa Lally came on the podcast to discuss the report in more detail with COVID-19 as the backdrop. To listen to the entire conversation, click on the link available below, or visit the Auto… Read More »PODCAST: Experian on growing depth, value of alternative data

CARY, N.C. –  Even beyond its announced sale of ALG to J.D. Power, it has been a busy news cycle at TrueCar. Company president and chief executive officer Mike Darrow joins the Auto Remarketing Podcast to discuss some of the latest happenings at TrueCar, including the company’s latest news on the digital retail front, news around its affinity programs, its marketing campaign with a NASCAR driver and more. To listen to the entire conversation, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play. … Read More »PODCAST: TrueCar CEO Mike Darrow

BINGHAM FARMS, Mich. –  Ford earned six awards, including Best CPO Value Truck brand, as Vincentric announced its third-annual Best Certified Pre-Owned Value in Canada Awards on Tuesday. Acura also had a strong 2020 showing. That brand earned five total awards, including Best CPO Value Luxury SUV & Crossover brand. Audi and Mazda won four awards each. Audi earned Best CPO Value Luxury Car brand, and Mazda earned Best CPO Value SUV, Crossover, & Van brand. The final brand winner was Mitsubishi, which earned the title of Best CPO Value Passenger… Read More »Ford, Acura take top honors in ‘Best CPO Value in Canada’

Wednesday, Oct. 07, 2020, 02:59 PM RESEARCH TRIANGLE PARK, N.C. –  Spiffy began as a mobile car wash and detailing service, but has since expanded to cover other aspects of car care, like oil changes, tire replacement and vehicle disinfection. And Wednesday, the company announced a trio of partnerships and a third-party marketplace that address the needs of vehicle ownership to an even deeper degree — and beyond vehicle care and maintenance Through its Complete Car Care program, Spiffy has lined up partnerships with Carvana, Gabi and Uproar.com to help consumers handle… Read More »Spiffy’s new partnerships with Carvana, others address vehicle lifecycle needs beyond car care

VANCOUVER, B.C. –  Two former Cox Automotive leaders in the U.S. have joined a company that describes itself as “a fintech provider disrupting the automotive industry.” John Canales and Brent Green are now senior advisers with PowerBand Solutions, which offers an integrated, cloud-based transaction platform that facilitates transactions among consumers, dealers, funders and OEMs. Canales and Green have begun their advisory roles with PowerBand, which says the “seasoned entrepreneurs” will work on the commercialization of PowerBand’s virtual platform that it says is transforming how drivers and dealers buy, sell, lease, trade… Read More »Former Cox Automotive leaders in US join fintech provider PowerBand

CARY, N.C.  –  During Wednesday’s quarterly Manheim Used Vehicle Value index call with the industry, Cox Automotive chief economist Jonathan Smoke began his opening comments with this update “On this call, we find the industry and used-vehicle values having performed very strongly in the last quarter, but September marked an important change,” Smoke said.  For one, that change involved the end of a months-long string of used-car pricing records. Though still up substantially year-over-year, the record streak in wholesale vehicle prices has stopped at three months, according to analysis around the… Read More »Streak of record wholesale vehicle prices end, but values remain strong

Wednesday, Oct. 07, 2020, 11:12 AM TEMPE, Ariz. –  DriveTime created a new executive position and filled it on Wednesday with a former member of the investment team at Wells Fargo. According to a news release, taking on this newly created role as assistant vice president of corporate development is Chase McDonough, who will be focused on expanding DriveTime’s product offering within the auto retail and consumer lending model and adjacent related businesses.  DriveTime highlighted that McDonough is an experienced investment banker with a deep understanding of the auto and consumer… Read More »DriveTime fills new role with former Wells Fargo executive

Wednesday, Oct. 07, 2020, 11:10 AM LAKE FOREST, Calif. –  Getting a little extra in the paycheck certainly can help in a myriad of ways, especially nowadays. This week, Portfolio announced the launch of Portfolio Accelerate, a new spiff program for F&I professionals. Built upon a fully web-based platform, the program was designed to offer agents and dealers an easier way to reward top performers. “We wanted our new spiff program to be a game-changer, and that required us to build around the wants and needs of our agents and dealers,”… Read More »Portfolio calls new spiff program a ‘game-changer’

IRVING, Texas –  The American Recovery Association is looking to smooth one of the most challenging parts of the recovery process through what the organization is calling a “ground-breaking” partnership with ACV Auctions. With access to ACV’s inspection services and active marketplace, ARA said on Wednesday that its members now can leverage ACV to seamlessly inspect, list and sell vehicles same-day directly from ARA member storage facilities. To recap, ACV is an online wholesale automotive marketplace driven by technology to provide transparency and national scale through third-party, accurate vehicle condition reports and… Read More »ARA partners with ACV to sell repos from members’ storage facilities