Drive Motors Hires Head of Strategic Partnerships

Drive Motors, an online sales platform for dealers, announced today the appointment of Chris Gugliotta as its head of strategic partnerships. Gugliotta brings 20 years’ experience in technology, automotive, and retail sales. He was formerly the head of innovation and online sales at Lithia Motors, a dealership headquartered in Medford, Oregon. In his new role, […]

Ally Seeks to Expand Blinker Partnership During ‘Innovation Period,’ Russi Says

LAS VEGAS — Blinker’s newly inked alliance with Ally Insurance will likely be expanded to the retail financing side of the bank, said Ally President of Auto Finance Tim Russi. “I certainly think it will [turn into a lending partnership]” Russi told Auto Finance News. “We want to do more with [Blinker].” Last month, Blinker […]

Drive Motors Names Ally as Preferred Lender for Digital Platform

Ally Financial Inc. and Drive Motors entered a strategic relationship yesterday, naming Ally as the preferred lender for the Drive Motors platform. The partnership provides the lender with the opportunity to receive credit applications submitted digitally by dealerships using Drive Motors’ e-commerce solution for dealership websites, according to an Ally press release. Drive Motors makes software […]

Kroll Remains Optimistic Despite Rising Auto ABS Losses

Kroll Bond Rating Agency said historically high delinquencies and losses will continue to rise due to used-vehicle depreciation and a saturation of lenders, according to a new report analyzing the auto ABS market. However, those rises are not as “ominous” as headlines often make them out to be. Growing cumulative net losses are offset by […]

LTVs Hit Record Low in Santander’s DRIVE Auto Securitization

Santander Consumer USA’s Drive platform had the lowest LTV rate in its latest securitization than all the previous Drive asset-backed transactions, according to a presale report by Moody’s Investor Service. The weighted average LTV was 106% in the Drive Auto Receivables Trust 2017-2, down from 109% in the Drive 2017-1 transaction and down from 112% in the 2016-A issuance. […]

DRIVE Lands 5 Startups to Accelerator Program

There is a new innovation center in town that is setting itself up to be a mediator between startups and OEMs — and it’s already snagged five mobility startups through its accelerator program, Auto Finance News has learned. Tel Aviv-based DRIVE, which launched operations last week, aims to promote the development of cutting-edge smart mobility technology, including transportation and […]
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