Startup companies are the lifeblood of the growing mobility movement in the global auto industry. The ideas for moving people from Point A to Point B, with new and innovative ways of navigating cities not imagined 10-to-15 years ago, has spawned a generation of determined risk-takers. Cities like Pittsburgh; Columbus, Ohio; Montreal; Las Vegas and Madrid, where mobility […] [Read More]

Mike Hacquard of Wolfe Auto Group and the late Gordon Wolfe founded the Subaru dealership Wolfe Subaru on Boundary in 2014, and the dealership’s many awards include the 2019 DealerRater Consumer Satisfaction Award. On Jan. 22, OpenRoad Auto Group announced it acquired Wolfe Subaru on Boundary, describing the company as “a highly trusted dealership for Subaru […] [Read More]

Dealer principals and general managers likely are used to seeing the healthy pace of their mainstream new models departing the store as a leased vehicle. In fact, Experian reported 28.76% of new models left franchised stores as a leased unit during the third quarter. Well, leasing of exotic and vintage vehicles appears to be quite […] [Read More]

Siemens’ technology is helping European OEMs streamline aftersales documentation, reduce costs and improve notifications when vehicle maintenance might be required. The company announced on Tuesday that Siemens’ Capital software electrical design product for its automotive aftersales documentation has been selected by Groupe PSA, considered to be the second largest vehicle manufacturer in Europe. Groupe PSA […] [Read More]

DealerRater general manager Jamie Oldershaw describes customer satisfaction as “a key differentiator in today’s competitive retail market.” “And our Dealer of the Year Award winners continue to raise the bar for best practices in our industry," Oldershaw said in a news release. He made those comments as DealerRater named the winners of its annual Dealer […] [Read More]

Used vehicle e-commerce platform Carvana has unveiled its latest car vending machine, this time in Miami. The company’s Miami car vending machine is the fourth Carvana car vending machine location in Florida. It’s Carvana’s 24th U.S. car vending machine. It stands eight stories high and holds 27 vehicles, offering car buyers what Carvana describes as […] [Read More]

Location Services made four changes to its senior management team on Tuesday, triggered by the retirement of chief executive officer Lee McCarty after 35 years in the auto-finance industry.  The provider of recovery-management and loss-mitigation services announced that effective immediately its new CEO will be Jerry Kroshus, who previously served the company as chief client relations […] [Read More]

Safe-Guard Products International, a provider of third-party private label protection products for the automotive, RV, marine and powersports industries, announced an investment in the company by funds managed by Stone Point Capital. According to a news released distributed this week, Safe-Guard noted that affiliates of the Goldman Sachs Group — which first invested in Safe-Guard […] [Read More]

PointPredictive landed another high-profile client this week; this time an institution that’s considered to be the nation’s second-largest federal credit union. The San Diego-based company and Emerging 8 honoree that builds artificial and natural intelligence (Ai+Ni) models using machine learning announced that PenFed Credit Union will use PointPredictive’s full suite of auto-finance fraud prevention solutions. […] [Read More]

Bryan Geist of masterQueue was one of several repossession industry experts who gave presentations during the 2019 Innovations in Recovery Summit hosted by Resolvion last fall in Dallas. Geist began his presentation recollecting tactics some collections agents might have used in the past, pretending to be just about anyone by a company representative in hopes […] [Read More]