It’s been a busy fall on the partnership front for OTTOMOTO, a technology provider for dealerships and finance companies to facilitate financing in the auto, RV, powersports, marine, and aircraft markets. The newest partnership for OTTOMOTO is with Conecta Marketing Group, which powers ConectaAuto.AI. From credit applications to final funding, OTTOMOTO’s platform is meant to […] [Read More]

SelectFI turned to the former vice president of engineering at ACV to be its chief technology officer. On Friday, the startup that offers artificial intelligence-driven customer financing solutions for automotive dealerships appointed Joe Peacock as CTO. Founded in 2023, SelectFI is a SaaS company serving auto dealerships with patent-pending technology that can enhance financing accuracy. […] [Read More]

On Monday, Consumer Portfolio Services recapped the success stemming from its decision to partner with SentiLink, a provider of advanced identity verification and fraud detection solutions. The subprime auto finance company said the partnership enabled CPS to improve its fraud prevention efforts while also saving the company approximately $1 million per quarter so far. SentiLink’s […] [Read More]

Roughly a year after a Wisconsin auto dealer group was penalized by the Federal Trade Commission and the Wisconsin attorney general for what authorities deemed to be discriminatory F&I activities, the FTC is beginning to send more than $1 million in refunds to consumers deemed to be impacted. The FTC began to deploy refunds last […] [Read More]

Fleet owners in the Chicago area and northern Illinois can now get cash back when they buy pre-owned electric vehicles. ComEd, the area’s electric utility company, has extended its business and public-sector fleet EV rebate program to include used electric fleet vehicles and repowered battery electric vehicles as well, to help reduce the costs of […] [Read More]

You would think that used-vehicle prices would be rising right now. After all, CARFAX opines in an analysis around its latest price index that supply of late-model vehicles has fallen (thanks to the 2021 leasing declines) and used-car demand has climbed thanks in part to lower interest rates and recent hurricanes have managed up to 347,000 cars — fueling the need for vehicle replacement ... [Read More]

Amid acknowledgement of operational challenges during the third quarter of its 2024 fiscal year, Proficient Auto Logistics on Wednesday appointed a new member to its board of directors. Joining the leadership group is Brenda Frank, who is currently is the group senior vice president of human resources, buying offices, of Ross Stores. Frank leads a […] [Read More]

The latest act in AutoNation’s longstanding initiative to support the fight against cancer is sure to have people dancing for joy. The nationwide auto retailer surprised former professional ballerina Anna Wassman-Cox, a two-time breast cancer survivor and founder of the nonprofit Onco-Ballet Foundation, with a $25,000 donation to support cancer patients and survivors through the […] [Read More]

Carvana is moving full speed ahead — and still accelerating. The online used-car retailer announced its financial results for the third quarter of 2024 this week, showing “record performance in virtually every key financial measure,” according to its letter to shareholders. Those measures include a net income of $148 million with a net income margin […] [Read More]

A fast-growing company has added an experienced hand to help steer the ship. BlytzPay, an integrated fintech platform designed to modernize the way auto dealers and finance companies invoice, communicate and collect, has named Alison Andreozzi as president and chief financial officer. In a news release, the company said Andreozzi, who brings 25 years of […] [Read More]