Assurant is looking to help dealership employees in the finance department stay sharp. The company recently launched Virtual Coach, a simulated, interactive classroom experience as part of the Assurant Virtual Learning Platform. The new programs are from the Assurant Performance Institute, which includes in-person training for F&I employees. The Virtual Learning platform includes Assurant Virtual […] [Read More]

The retained value for all vehicles in Canada measured for this year’s 13th annual Canadian Black Book Best Retained Value Awards show that 4-year-old vehicles (2016 model-year) held what Canadian Black Book describes as “an astounding” 57% of original MSRP, industry wide. The company says that is the best-ever industry average retained value since the […] [Read More]

Gary Tucker says locating and recovering loaner vehicles is challenging for rental and fleet managers. But it is just as challenging for dealership operators, said Tucker, who is chief executive officer for Zubie, a connected-car platform and telematics data insights provider. “We are enthusiastic about our partnership with AutoMap, giving dealership general managers a proven […] [Read More]

One subprime auto finance company is absorbing much of the portfolio of another provider. On Thursday, Nicholas Financial announced today that it has entered into an agreement with Platinum Auto Finance to acquire approximately $19 million of Platinum’s active and performing portfolio.  According to a news release, this deal is the third bulk portfolio purchase […] [Read More]

CDK Global pivoted its operations this week by selling a segment to Ansira Partners, an independent global marketing services and solutions company. On Thursday, the company announced it has signed a definitive agreement to sell all assets of the company’s digital marketing business — including all advertising solutions and website services — to Ansira Partners. […] [Read More]

Lithia Motors generated double-digit gains in same-store used-vehicle retail sales during both the fourth quarter and all of 2019 at 17% and 14%, respectively. Dealer group management is eyeing even more growth this year and not just through what top Lithia executives called the “easy entrance point” of the used-vehicle space. Bottom line: Lithia wants […] [Read More]

You have likely heard of the acronym “ACES” or “CASE” to describe four areas in which technology and innovation are rapidly changing automotive. Those four areas being, in whichever order put them, autonomy, connectivity, electrification and shared mobility. Over at Autotech Ventures, they actually use the past tense of one of these acronyms: adding a […] [Read More]

Digital Motors, which provides dealers a digital retail and fintech platform to enable online transactions, now has Autotech Ventures as a lead investor, as the comapny announced its first external funding round.  Autotech Ventures, based in Silicon Valley, is one of the more well-known investors in the space and focuses on ground transportation. Its portfolio […] [Read More]

During Penske Automotive Group’s fourth quarter earnings call that took place on Feb. 5, chairman Roger Penske wanted to comment early on about the company’s 2019 achievements. He noted that the company retailed more than 500,000 new and used units and increased its used-to-new ratio from 1.20 to 1.28. The company also opened two greenfield […] [Read More]

A couple of years after hosting college basketball personality Dick Vitale as the keynote speaker for its annual convention, the National Independent Automobile Dealers Association is venturing into another part of the sports world for a headliner at this year’s event. NIADA announced this week that Pro Football Hall of Famer and former Dallas Cowboys […] [Read More]