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Inside the ‘massive opportunity for subscriptions’ at Autonomy
It was arguably the biggest development in auto retail technology this autumn. Maybe the entire year. TrueCar announced in mid-October that founder and former CEO Scott Painter is leading a group that plans to acquire the automotive digital marketplace. Upon close, Painter, who stepped down as CEO in 2015, will return as TrueCar’s CEO. But not […]
AFC, OPENLANE ‘cross-pollination’ efforts continue
On the franchised dealer side of its business, OPENLANE provides private-label programs for automakers, who can sell wholesale vehicles directly to their dealer bodies. “And what that means is the majority of franchise dealers out there are customers of ours through those private-label programs, and that creates a sort of an entry point and a […]
ACV increases revenue, market share, unit sales but suffers net losses
Amid “challenging market conditions” during its third quarter, ACV Auctions increased its revenue, gained market share and expanded its dealer network, said the company’s CEO George Chamoun. ACV’s revenue in the third quarter grew 16% to $199.5 million when compared to the year-ago quarter, but the company’s net loss of $24.4 million in the quarter […]