CDK tells car dealers their systems likely offline several days
Auto retailers across the US are likely to be out of service for days following a second major cyberattack at…
Li Auto adds to gloomy China EV outlook with revenue miss
Li Auto Inc.’s fourth-quarter forecasts fell short of expectations, adding to investor concerns about its ability to navigate China’s fiercely…
CarMax Auto Finance originations up 6%
CarMax Auto Finance grew originations in the fourth quarter of fiscal 2025, but rising macroeconomic uncertainty has led the company…
Vervent to start servicing Tricolor loans following court approval
The U.S. Bankruptcy Court of the Northern District of Texas Dallas Division approved a stipulation on Sept. 19 allowing Vervent…
Huntington Bank’s originations rise 25%
Regional banks saw better credit performance in the first quarter as delinquencies declined, while Huntington Bank’s auto originations increased. Fifth…
Big Wheels: EV values down 15% YoY
EV values fell nearly 15% year over year in July, continuing a downward trend over the past two years. As…
Grasshopper launches digital banking for ACG members
Grasshopper Bank has completed its acquisition of Auto Club Trust FSB, the banking arm of The Auto Club Group which brings the merged entity’s asset size…
Veros Credit eyes growth after investment
Santa Ana, Calif.-based subprime auto lender Veros Credit is looking to expand operations and improve its technology stack following an…
Podcast: ‘Weekly Wrap’ on underwriting themes at AFS East 2024
Several auto lenders had to adjust their underwriting strategies in 2023 to account for worsening credit performance across loans originated…
UACC to focus on indirect business following Vroom e-comm closure
Despite Vroom winding down its e-commerce used-vehicle sales operations, the retailer’s captive United Auto Credit Corp. maintains that it is…
Auto stocks fall 2% post-July 4 (Big Wheels)
Auto stocks fell after spiking before Independence Day on the heels of policy shifts and robust incentives by OEMs. The…
Polaris sales fall 23% year over year
Sales worsened in the third quarter for powersports manufacturer Polaris following the company’s efforts to reduce yearend production and shipments…
Big Wheels: Negative equity could impact consumers’ ability to get auto loans
Negative equity is a growing concern for auto lenders as used-vehicle prices come down and consumers look to purchase their…
Off the lot: Visualizing the future of customer communication
No way around it, this is a tough market. Interest rates have been higher for longer, putting pressure on margins,…
Group 1, Sonic Auto F&I revenue, sales rise
Group 1 Automotive and Sonic Automotive reported upticks in finance and insurance revenue and sales during the first quarter. Group…