Financial

This episode of the Auto Remarketing Podcast ventures into the investment world with Gina Cocking, who is managing director of Colonnade Securities, a Chicago-based investment banking firm that specializes in merger and acquisition advisory services. Cocking not only shared an assessment of the current investment landscape, she also discussed the firm’s recent examination of the […] [Read More]

Racing enthusiasts watching the upcoming Memorial Day weekend race in Charlotte will see seven-time NASCAR Cup Series Champion Jimmie Johnson driving a Chevrolet Camaro ZL1 1LE with a subtle olive drab color. The vehicle will feature white military stenciled numbers and exposed rivets inspired by WWII military vehicles. Johnson and his sponsor Ally Racing on […] [Read More]

Along with announcing an enhanced vehicle cleaning and sanitization process, Hertz also revealed it will be looking to navigate through its current financial challenges triggered by the coronavirus pandemic with a new president and chief executive officer. According to a news release distributed on Monday morning, Hertz said its board of directors has named Paul […] [Read More]

To support independent dealers as they work through the economic impact of COVID-19, Automotive Finance Corporation introduced its customer-relief program to customers on March 24. On Tuesday, AFC said more than 10,000 customers have taken advantage of the program. AFC, a business unit of global vehicle remarketing and technology solutions provider KAR Global, has deferred […] [Read More]

As Hertz scrambles to modify its monthly vehicle-lease payments and other financial commitments, Fitch Ratings is bracing for the growing possibility the rental-car company soon will be filing for bankruptcy because of the collapse of the travel industry due to the coronavirus pandemic. On Tuesday, Fitch Ratings said it downgraded all of the outstanding asset-backed […] [Read More]

NextGear Capital Scott Maybee joins the Auto Remarketing Podcast to discuss how the company is helping dealers during COVID-19, a resource hub and more. The company had announced in late April that it would continuie to defer curtailment and extension payments for eligible floorplan advances. The company is taking that action through May 31 for all […] [Read More]

Perhaps now more than ever, a vehicle purchase can’t be completed without financing. After launching the series in April, Cherokee Media Group has released Part III of a whitepaper series on “A New Age of Digital Buying & Selling” to share trends and best practices for a used-car industry that’s increasingly digital — and even […] [Read More]

Before the coronavirus pandemic, a significant portion of dealership training happened in a classroom or face-to-face setting. While the crisis put a halt on that particular education delivery, Dave Worrall certainly does not want improvement of store personnel to become stagnant — especially in the valuable F&I department. The senior director of global training and […] [Read More]

Saying that it “heard what truly mattered to our customers,” floorplan provider NextGear Capital is continuing to defer curtailment and extension payments for eligible floorplan advances. The company is taking that action through May 31 for all NextGear Capital dealers in good standing. Within the first 30 days of NextGear Capital’s original relief package, the […] [Read More]

Here’s at least one segment of the automotive industry that’s remaining relatively steady amid the coronavirus pandemic. On Thursday, Swapalease.com reported its vehicle-lease credit applicants registered an approval rate in March of 69.3%, representing just a slight decline from the February rate of 72.3% and January’s reading of 70%. March also generated a slight decrease […] [Read More]