New JD Power data shows growing numbers of premium compact car, compact SUV and midsize SUV owners are joining a “measurable” downmarket migration. +
Subaru announced plans to form a new captive finance company that will offer loans, leases and floorplan financing to U.S. and Canadian dealers. The factory will extend partnerships with Chase and Toyota to facilitate the transition. +
Shine & Drive has partnered with LodeStar RE to add an industry-first contractual liability policy to its agent- and dealer-facing car wash program. +
Users of Launcher’s appTRAKER loan origination system will have Zest AI’s credit and fraud risk models incorporated into existing underwriting workflows. +
Wolters Kluwer’s latest Digital Transformation Index report finds econtracting gaining popularity throughout the auto finance ecosystem. +
Atlanta will become Group 1 Automotive’s second-largest market with the billion-dollar purchase of Hennessy’s Automobile Companies’ 10 dealerships. +
Dealers set a new quarterly record with $1,769 in average F&I income per vehicle retailed, partially offsetting an 11.8% slide in franchised dealership profitability. +
The owner of Aaron Automotive Group claims a dealer services provider made false promises to deliver training, consulting and process implementation. +
The latest quarterly VIN-based inventory report from Lotlinx finds rebounding sales driven by new launches but offset by persistently aged inventory. +
A nonbinding proposal from Penske’s largest shareholders would take one of the “Big 6” publicly traded dealer groups private at $210 per share. +
