The third-party audit confirms AUL’s internal controls are in accordance with the selected Institute of Certified Public Accountants’ trust services principles and criteria. For the company’s customers and partners, SOC 2 compliance demonstrates that AUL has industry leading controls in its data systems, technologies, and processes.
Ally Financial said it will make up to $750 million available to DriveTime for the purchase of retail contracts over the coming year.
Aside from the promotion of Nieves, who has been with the company for more than 20 years and previously served as national accounts manager, AUL announced the promotion of Henry Paoli to national sales manager.
Luxury vehicles continued to struggle last week, as the segment realized some of the highest depreciation rates among all segments, according to the vehicle valuation firm.
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Depreciation trends stabilized to close out 2016, with depreciation rates for all cars and trucks falling into seasonal patterns, Black Book reported this week.
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Wholesale used vehicle prices on a mix-, mileage-, and seasonally adjusted basis declined 1% in November, according to Manheim’s Used Vehicle Value Index report. Due to this decline, the Manheim Used Vehicle Value Index fell 0.3% from a year ago to 124.7.
For the car segment, wholesale values decreased by 0.56% last week, an improvement over the 0.62% decrease the segment realized the week before. On the truck front, wholesale values decreased by 0.31%, less than the prior week’s depreciation rate of 0.59%.
The average age of light-duty vehicles on U.S. roadways increased to 11.6 years this year. Vehicle registrations also climbed 2.4% from a year ago to 264 million, according to IHS Markit.
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