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
Proficient Auto Logistics kicks off IPO with shares trading Thursday
Thursday, May. 9, 2024, 02:02 PM
Financial
COMMENTARY: Honda’s CPO leasing initiative targets affordability gap
Friday, May. 3, 2024, 12:48 PM
Ben Bartosch, J.D. Power
Vehicle affordability is an issue that has been much talked about recently. As the pandemic and its related supply chain issues limited vehicle production as the decade began, auto manufacturers made concerted efforts to richen their mixes, building highly contented, more expensive vehicles. While this was a sensible reaction to the situation, it also left […] [Read More]
DriveItAway & Westlake collaborate for floorplanning
Monday, Apr. 29, 2024, 01:26 PM
Auto Remarketing Staff
Sometimes electric vehicles can be difficult for dealers to blend into their floorplan. DriveItAway Holdings and Westlake Financial collaborated on a solution. Last week during the Auto Intel Summit + National Remarketing Conference, DriveItAway announced the offering of its retail app, software platform and lead base to all interested dealers, combined with fleet credit line […] [Read More]
Beyond the Transaction: Overcoming customers’ affordability concerns through the financing process
Wednesday, Apr. 17, 2024, 03:41 PM
Andrew Friedlander, Associate Editor
This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now.
For consumers, the greatest concern when it comes to buying a car can be summed up in one word.
Affordability.
While the price of cars has dropped over the past year, they remain substantially elevated compared to before the COVID pandemic. Currently, the average price of a used vehicle is in the $25,000-$28,000 range, depending on which analyst’s data you’re looking at — well above the sub-$19,000 average of early 2020.
And with interest rates soaring to their highest point in ... [Read More]
Beyond the Transaction: The ins and outs of reinsurance
Wednesday, Apr. 17, 2024, 03:35 PM
Andrew Friedlander, Associate Editor
This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.
It is available for Cherokee Media Group Premium subscribers now.
There are still times, Justin Osburn said, when he can see the wheels spinning in a car dealer’s head as he explains to them how reinsurance works.
“When you understand it, it’s a no-brainer,” said the founder and CEO of Automotive Reinsurance Concepts, “but it can be complicated to explain to somebody how it works, which can create fear. Because anytime you start using words like ‘offshore company tax advantages’ and ‘IRS,’ you can get this thing running through a dealer’s head like, ‘Well, what does that mean? And who are you?’”
Fortunately, those sorts of conversations are ... [Read More]
InfoSum, Experian seek to increase power of auto brands’ first-party data
Monday, Apr. 1, 2024, 01:28 PM
Auto Remarketing Staff
Data collaboration platform InfoSum and Experian are teaming up to help automotive brands use their own data to better connect and engage with the right buyer at the right moment. The companies have launched a solution designed to securely access insights about in-market or current vehicle owners, extend match rates and improve targeting, which they […] [Read More]
Ally picks former Discover, TD Bank exec as next CEO
Thursday, Mar. 28, 2024, 10:18 AM
Auto Remarketing Staff
Ally Financial has its next chief executive officer who said he admires the company’s “leading position in automotive finance.” Late on Wednesday, Ally announced Michael Rhodes will be its new CEO, starting at the company on April 29. Rhodes will also be appointed as a member of Ally’s board of directors at that time. Ally […] [Read More]
Flexcar brings its vehicle subscription service to Rhode Island
Wednesday, Mar. 13, 2024, 01:22 PM
Auto Remarketing Staff
Flexcar is bringing its vehicle subscription service to Rhode Island. The company announced consumers in the Providence area can now sign up for monthly subscriptions, choose their vehicle and have it delivered to their home. Flexcar chief operating officer Ryan Quinlan said while Rhode Island residents drive an average of less than 10,000 miles per […] [Read More]