DCG launches AI data-mining software for dealership valuations
Monday, May. 20, 2024, 03:27 PM
Vroom reports net loss of $44.7M in Q1, completes wind-down of ecommerce & used-car retail business
Monday, May. 13, 2024, 02:52 PM
FloodFlash launches sensor-enabled flood insurance for ‘underserved’ dealers
Monday, May. 13, 2024, 01:52 PM
Financial
PODCAST: Reflecting on captives’ moves to generate growth during pandemic
Tuesday, Jul. 28, 2020, 04:40 PM
Auto Remarketing Staff
Experian senior director of automotive financial solutions Melinda Zabritski returned for another episode of the Auto Remarketing Podcast. This time, Zabritski discussed how the moves made by captive finance companies to generate activity during the coronavirus pandemic impacted other segments such as leasing as well as used vehicles. To listen to this episode, click on the […] [Read More]
Fisker to go public via SPAC merger
Monday, Jul. 13, 2020, 09:00 PM
Auto Remarketing Staff
Fisker is going public by way of merging with a special purchase acquisition company. The e-mobility and tech company said Monday it entered an agreement with Spartan Energy Acquisition Corp., an SPAC sponsored by Apollo Global Management affiliate, to merge Spartan and Fisker. Fisker would then be a publicly traded company on the New York […] [Read More]
CPO, used models included in vehicle-return program from Ford Credit
Tuesday, Jun. 30, 2020, 02:23 PM
Auto Remarketing Staff
The Blue Oval is providing a safety net for individuals who are considering a certified pre-owned vehicle, as well as a used or new model, and financing the deal through its captive. In light of the unsettled economy impacted by COVID-19, Ford on Monday announced a program dubbed Ford Promise that gives consumers the option […] [Read More]
PODCAST: Where friction still lingers during retail and finance processes
Friday, Jun. 26, 2020, 03:19 PM
Auto Remarketing Staff
Jake Levant sees how the vehicle purchasing and financing process has improved for the consumer, but the vice president of marketing and partnerships at Lightico also emphasized that dealerships and finance companies still have some work to do to cut down on the friction buyers still experience. In this podcast, Levant explores how the coronavirus […] [Read More]
Fitch Ratings: Sales rebound supporting pressured dealer floorplan ABS
Thursday, Jun. 25, 2020, 03:15 PM
Auto Remarketing Staff
Fitch Ratings spotted another place where improving vehicle sales has been good for the automotive industry. Analysts reported this week that dealer floorplan (DFP) asset backed securities (ABS) trust performance metrics — including monthly payment rates (MPR) — have rebounded on the back of new U.S. auto sales rising in May and early June off […] [Read More]
Ally, CardWorks scrap merger because of COVID-19
Thursday, Jun. 25, 2020, 03:12 PM
Auto Remarketing Staff
The coronavirus pandemic sabotaged another merger in the financial-services space. Late Wednesday, Ally Financial and Cardholder Management Services (CardWorks) announced that they have mutually agreed to terminate their merger agreement, which had been first disclosed on Feb. 18. According to a news release, the board of directors for each company approved the termination after carefully […] [Read More]
Experian, Swapalease on COVID-19 influencing leasing demand
Friday, Jun. 19, 2020, 04:21 PM
Nick Zulovich, Staff Writer
If consumers aren’t securing a lease from a franchised dealership as much because of the coronavirus pandemic, they might be using alternatives to land a vehicle lease, based on the newest information from Experian and Swapalease.com. Experian’s latest State of the Automotive Finance Market Report showed a decrease in leasing year-over-year, with 24% of new […] [Read More]
IPO during pandemic? Timing turned out right for Vroom
Wednesday, Jun. 10, 2020, 09:50 PM
Joe Overby, Senior Editor
On the surface, launching an initial public offering during a pandemic, with entire markets and industries only just beginning to restart, may seem like a head-scratcher. But for an ecommerce company in an asset-heavy, traditionally brick-and-mortar-based industry like automotive retail, it might make total sense. It did for Vroom this week. On Monday, the online […] [Read More]
Trump signs Paycheck Protection Program Flexibility Act
Friday, Jun. 5, 2020, 02:17 PM
Auto Remarketing Staff
Industry organizations like the National Independent Automobile Dealers Association and the National Association of Federally-Insured Credit Unions (NAFCU) cheered Congress for passing a measure that President Trump signed on Friday morning. The associations recapped that a bipartisan bill that would give small businesses like dealerships more time to use the funds from Paycheck Protection Program […] [Read More]
Hertz files for Chapter 11 bankruptcy protection
Tuesday, May. 26, 2020, 02:19 PM
Auto Remarketing Staff
As industry experts predicted might happen, late on Friday afternoon Hertz Global Holdings announced it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. According to a news release, Hertz said the company still has $1 billion […] [Read More]