Former Mercedes-Benz Financial Services and AutoGravity executives Andy Hinrichs and Nick Stellman founded Digital Motors last year, striving to become an innovation leader in automotive retail and financial technology. Now Digital Motors is leveraging the expertise of Hinrich Woebcken, who is the former president and chief executive officer of Volkswagen Group of America. According to […] [Read More]

Hudson Cook is preparing to offer the industry another way to stay up to date on the Consumer Financial Protection Bureau’s activities. Hudson Cook partners Eric Johnson and Justin Hosie will be hosts for a new monthly webinar series titled, “CFPB Bites of the Month.” Johnson and Hose are scheduled to orchestrate their first webinar […] [Read More]

Last week, the Financial Accounting Standards Board (FASB) unanimously voted to delay implementation of the Current Expected Credit Loss (CECL) accounting standard, but segments of the industry still remained concerned about the regulatory matter. To recap, FASB is looking to ensure that financial institutions have solid measures in place to ensure they have appropriate reserves for […] [Read More]

Greta Crowley says sports have been a “huge component” of Autotrader’s marketing plan for years. “It's something where we’re constantly looking at research and the data, and what we're continuing to see is that sports fans are so incredibly passionate and are brand-loyal for those brands that invest in our long-term partners and sponsors,” said […] [Read More]

Auto/Mate says three out of 100 service customers on average will take advantage of a vehicle upgrade opportunity. The company says technology product Servisell helps salespeople initiate conversations with service customers while they are still in-house and to show customers the benefits of upgrading to a new vehicle, such as lower maintenance costs. On Monday, Auto/Mate […] [Read More]

ServNet auction owners gathered for their fall business meeting earlier this month in Dallas, and in the process decided on the leader who will be its president for the next two years. Taking on the role of president is Bruce Beam, general manager of Dealers Auto Auction of Oklahoma City. Beam succeeds Eric Autenrieth of […] [Read More]

Carsharing marketplace HyreCar says it is benefitting from the continued growth of rideshare and food/package delivery opportunities. “By partnering with HyreCar, dealers have a turnkey solution to optimize inventory utilization and participate in the incremental revenue opportunities that on-demand transportation trends offer today,” HyreCar chief executive officer Joe Furnari said in a news release. Noting […] [Read More]

United Road used the acquisition route to expand its operations on Monday. United Road, in partnership with its owners, The Carlyle Group, and other investors, announced the acquisition of Team Drive-Away (TDA) and its affiliates Driveaway USA and Fr8 Management from CID Capital. Based in Olathe, Kan., TDA is a national non-asset-based commercial vehicle logistics […] [Read More]

Two wholesale market trends are continuing to gain momentum, according to the latest Black Book Market Insights report. Analysts pinpointed the momentum’s source: Dealers are passing on a growing number of vehicles in the lanes, and it's pressuring prices to soften. “Values of car and truck segments declined at a similar rate last week. The […] [Read More]

A select group of franchised dealers are in the running for one of the industry’s most prestigious honors. TIME and Ally Financial on Tuesday announced the nomination of 49 exceptional dealers for the TIME Dealer of the Year Award, recognizing them for their business success and dedication to giving back. Chosen from nearly 17,000 franchised […] [Read More]