Carsharing marketplace HyreCar says it has created a new experienced outside sales team and scalable customer service infrastructure to pursue OEM and dealer opportunities. The company has hired two industry veterans with existing dealership and OEM relationships that they will use to fuel vehicle supply and “provide value for all HyreCar stakeholders,” according to the […] [Read More]

Dealer-first automotive digital retail software provider MAX Digital believes competition from non-traditional dealers has never been stronger. Because of that, providing a smooth path to purchase is a must for dealerships to thrive in the coming years. With that in mind, MAX Digital has partnered with LotVantage, and participating dealers can now combine LotVantage services […] [Read More]

The retail prices of both new and used cars in Canada was on the rise last month compared to year-ago figures, but the rate of increase is slowing down, according to the latest autoTRADER.ca Price Index. The national median price for used vehicles was $18,900 in June, up 5.1% year-over-year, while the national median price […] [Read More]

Effective Aug. 12, AutoCanada will have a new chief financial officer. The North American multi-location dealership group currently operating 65 franchised dealerships, comprised of 27 brands, in eight provinces in Canada as well as a group in Illinois, appointed Mike Borys as CFO. AutoCanada highlighted that Borys is a chartered accountant with more than 20 […] [Read More]

The Justice Department received guilty pleas from an east Texas buy-here, pay-here dealer, his wife and son in connection with a scheme to use the dealership as a cog in an illegal gambling machine that lasted more than 30 years. The trio pleaded guilty to federal violations in a case investigated by Homeland Security Investigations […] [Read More]

While many economic and auto-finance metrics moved up or down during the first half of 2019, the American Bankruptcy Institute discovered total bankruptcy filings were not among those trends. According to data collected by Epiq Systems, ABI reported that total bankruptcies through June came in nearly unchanged, producing just a 0.04% increase. The 388,463 filings […] [Read More]

Colonnade Securities offered an extended examination of the below-prime auto finance industry this week, identifying what the independent investment bank focused on the financial services and business services sectors believes are four factors currently impacting the space most. According to the report, the fundamentals of the below-prime auto finance industry have not deteriorated significantly, but […] [Read More]

A new automotive site that made its national U.S. launch on Tuesday says it offers fleet-like pricing by grouping buyers and lessees around the United States by the brand of car they want and placing them in a national “bucket.” Through the site, CarBuckets.com, car dealerships nationwide compete for the business of that group, and […] [Read More]

Noting George Hines’ leadership in activating the Lithia store network with digital services to reach 80% of consumers nationwide, Lithia Motors has promoted Hines to senior vice president, chief innovation and technology officer. Lithia Motors president and chief executive officer Bryan DeBoer said in a news release that the company’s internal investments and strategic partnerships […] [Read More]

Digital auction platform TradeRev has integrated two new in-app features, including “Buy Now,” which company president Becca Polak says opens a second-chance marketplace for buyers and sellers. Polak says the second feature, Third Party Inspected, provides an additional layer of trust for dealers, “so they can buy with confidence.” TradeRev, a business unit of global […] [Read More]