André-Martin Hobbs, Author at DecisioningIT

Cox Automotive sells Canadian operations of Dealertrack, VinSolutions, Dealer.com, Xtime and KBB to TRADER

TRADER Corp. said Thursday it is acquiring Dealertrack Canada from Cox Automotive’s Canadian retail business, along with the Canadian operations of VinSolutions, Dealer.com, Xtime and Kelley Blue Book. The company said most Canadian Cox Automotive Retail employees will likely move...

November 10, 2022

Fraud

eLEND study: 79% of car dealers lost a vehicle to fraud in past year

Source: Autonews.com An eLEND Solutions poll of more than 700 dealerships — nearly all of which were franchised — revealed 79 percent had an identity fraud-related loss in the past year. Sixty percent lost at least three vehicles due to...

November 8, 2022

Fraud

95% of Dealers are Not Doing Enough in Their Stores or Online to Prevent Fraud

By Ken Hill, Managing Director, 700Credit – Source: https://digitaldealer.com/latest-news/95-dealers-not-enough-stores-online-prevent-fraud/ Yes, it’s true, more people are shopping and buying cars and trucks online. Research firm Frost and Sullivan forecasts six million cars will be sold online around the world in 2025....

November 5, 2022

Wolters Kluwer: Digital transformation continues even as retail sales slow

Digital Retailing

Wolters Kluwer: Digital transformation continues even as retail sales slow

Source: www.autoremarketing.com/autofinjournal/wolters-kluwer-digital-transformation-continues-even-retail-sales-slow Wolters Kluwer recently announced third quarter results and analysis from its Auto Finance Digital Transformation Index, a key resource that tracks the rate at which auto dealers, service providers and finance companies are seeing growth in the evolution...

November 2, 2022

Q3 closes with improved credit availability

Automotive Finance Automotive Lending Consumer Credit

Q3 closes with improved credit availability

Chart courtesy of Cox Automotive. By SubPrime Auto Finance News Staff Sales might have softened in September, but Cox Automotive indicated credit for auto financing improved as the third quarter closed. According to the newest Dealertrack Credit Availability Index released...

October 17, 2022

Auto loan interest rate highest in 3 years

Automotive Finance

Auto loan interest rate highest in 3 years

Auto loan interest rate highest since 2019; average amount financed hits all-time high and more consumers are paying $1,000 monthly, according to latest Edmunds report. From GAIL KACHADOURIAN HOWE (Automotive News) Auto loan interest rates soared to their highest levels...

October 6, 2022

Welcome to the team, Jordan Lacroix!

Jordan Lacroix, we look forward to providing you with the best professional and personal opportunities. The entire team offers a warm welcome. We believe you will be an excellent fit due to your exceptional skills and personality, and we look...

September 30, 2022

EVs are driving changes in the F&I office—is your dealership prepared?

F&I

EVs are driving changes in the F&I office—is your dealership prepared?

Source: CBT News. As we see an increase in electric vehicle adoption and the supporting charging infrastructure, the sales and buying process at your dealerships will need to evolve. Today on Inside Automotive, we’re pleased to welcome Scott Gunnell, Group Vice President...

September 12, 2022

Experian Q2 finance data reinforces shift to used vehicles

Car Dealerships Latest News

Experian Q2 finance data reinforces shift to used vehicles

Source: Autoremarketing The newest auto finance data from Experian reinforced the theory that consumers are taking delivery of used vehicles more often because of necessity. As the automotive market continues to face inventory shortages, analysts said consumers are shifting back...

August 29, 2022

The case for starting the finance journey on your website

Automotive Finance Car Dealerships

The case for starting the finance journey on your website

By Drew HardenCARFAX Canada Source: AutoRemarketingCanada You’ve just spent three hours with a customer and when it’s time to run their credit, you learn the bank won’t even loan them a pen. So, you decide to discuss credit up-front with...

August 15, 2022