Carvana made another big investment move on Monday, this time involving Santander Consumer USA founder Tom Dundon. The online retailer announced an agreement to raise $100 million of Class A Convertible Preferred Stock in a private placement with Dundon Capital Partners, which was founded by Dundon. The proceeds will be used for growth opportunities, including […] [Read More]

A Western chapter of AAA said Monday it has launched a peer-to-peer service for used-car sales. AAA CarConnect, provided by AAA Northern California, Nevada & Utah, is making its debut in San Jose, Calif., and aims to provide some “neutral” ground in the used-car sales process between individuals. It is currently available at the AAA […] [Read More]

Avis Budget Group announced Monday it has launched a “Mobility Lab” comprised of several locations and a fleet of 5,000 connected vehicles to test fully connected cars and operations in the greater Kansas City, Mo., area. The new Mobility Lab features more than 20 Avis Car Rental locations, including the Kansas City International Airport, Nebraska’s […] [Read More]

This week, our episode is a chat from earlier this fall with George Chamoun, the chief executive officer of ACV Auctions. An entrepreneur, Chamoun launched technology and services company Synacor with his college roommate in 1998, shortly after graduating college. Check out the conversation below. Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  You can […] [Read More]

Element Fleet Management said Wednesday it has been chosen to provide maintenance and accident services for General Motors’ Maven personal mobility program. When a vehicle within the Maven car-sharing fleet needs repairs or maintenance, a Maven employee or the driver of the vehicle can take it to one of the more than 37,000 maintenance services […] [Read More]

Donlen recently announced that it has brought aboard Bob Barna to serve as vice president of strategic sales and Ian Crapper as managing director of global business. “As Donlen advances our offerings for large, global fleets, we are committed to investing in and retaining successful, results-oriented fleet professionals,” Donlen president Tom Callahan said in a […] [Read More]

CarMax announced Tuesday it has expanded its commercial relationship with RepairPal and made a minority investment of $5 million as the lead in a new round of financing for the auto service and repair provider. CarMax had already been partnering with RepairPal for several months, offering its Los Angeles customers increased repair service options, according to […] [Read More]

Carvana has brought on former Deutsche Bank Securities vice president Michael Levin as its vice president of investor relations, the online car retailer said Tuesday. Levin headed up the automotive dealer equity research at Deutsche and has a decade of experience covering the auto and retail industries, including companies like Carvana. “We've had the fortune […] [Read More]

RumbleOn announced Monday that it has named Peter Levy its new senior vice president of dealer services to oversee the development of the company’s dealer network and the rollout of its dealer-to-dealer Internet marketplace. Over 25 years, Levy has taken on leading roles in sales, marketing and consulting at several technology-driven businesses, which include startups that […] [Read More]

AutoLoop announced Tuesday it has been named a key software vendor for Fiat Chrysler America (FCA) dealers through Shift Digital.  In addition to AutoLoop’s service and customer retention tools, FCA dealers can now take advantage of special FCA promotional rates. “We’re excited about this opportunity to partner with FCA and offer its dealers proven solutions […] [Read More]