Bar-like meeting counters with stools for up to 100 customers is just one portion of HGreg.com’s approximately $25 million investment into its new Miami pre-owned car dealership location. The site, named HGreg.com Miami, opened Saturday. HGreg.com says the new Miami site is located on “prime real estate” between I-95 and 441, just north of NW […] [Read More]

Drive Motors changed its name while collecting $5 million in funding from a trio of sources, including Ally Financial. According to a recent news release, the provider of digital commerce solutions for some of the world’s largest auto retailers and brands, officially changed its name to Modal and raised $5 million of venture capital. Those funds […] [Read More]

Fitch Ratings is a bit more upbeat about the direction of the auto lease asset backed securities market. Analysts expect stability in residual value realizations throughout the year, prompting them to revise their wholesale market outlook haircut to neutral from negative for most auto lease asset backed securities (ABS). Despite a 16% jump in auto […] [Read More]

DriveTime Automotive Group and its related finance company, Bridgecrest Acceptance Corp., announced on Monday that they have commenced a cash tender offer to purchase any and all of their outstanding $400 million aggregate principal amount of 8.00% senior secured notes due 2021. In conjunction with the tender offer, DriveTime said in a news release that […] [Read More]

As the captive gears up to be a part of next month’s Automotive Intelligence Summit, GM Financial recently expanded its commitment to Spring Labs, the company developing the Spring Protocol, a blockchain-based platform designed to transform how information and data are shared globally. Spring Labs announced that GM Financial is a part of the company’s […] [Read More]

Expansion Capital Group (ECG), a technology-enabled specialty lender that leverages data and analytics to offer customized solutions to small businesses, recently hired two directors to lead efforts in marketing and human resources. According to a news release, the company announced Jason Gross has joined the team to lead efforts in organic customer lead acquisition, social media, […] [Read More]

By integrating TransUnion’s DriverRisk into its current offerings, DealerPolicy now has access to violation data that it says speeds up the quote-generating process. The integration also brings the benefit of increasing provided quote accuracy, according to the company. DealerPolicy, an insurance marketplace for automotive retailers and their customers, says the right data is important to […] [Read More]

Texas is one of the largest markets for Insurance Auto Auctions. The company continued its investment in the state with an announcement on Thursday that it has opened IAA Houston South. The new 125-acre-capacity location, which marks IAA’s third in the Houston metro area, is the 17th branch in the state for the company. IAA […] [Read More]

Sending zero waste to landfill by 2024. That’s a goal for Cox Enterprises, and the company also wants to be water/carbon neutral by 2044. Manheim San Francisco Bay, a Cox Enterprises company, has worked on several initiatives to reach those goals. Now, the City of Hayward, Calif., has recognized the company’s efforts. The auction has […] [Read More]

Mobile marketplace OfferUp has expanded the work it does with car dealers. The OfferUp Autos program has added partnerships with marketing services, inventory management systems and dealership management system providers – meaning dealers using those providers will be able to post vehicles on OfferUp through respective platforms. The partners include the likes of Hammer, MotorLot, […] [Read More]