Automotive software company AutoAlert says the addition of SMS texting functionality to its AlertMiner customer experience and trade cycle management tool helps dealers reach customers with vehicle upgrade proposals directly via text message. The company says that with the new functionality, dealers can use AutoAlert CXM to communicate with customers via text and track those […] [Read More]

Kelly Bianchi believes that many dealers would like to participate more in independent auto auctions. “But they get frustrated with the disconnect,” said Bianchi, who is president of AuctionVcommerce LLC. AuctionVcommerce seeks to address that disconnect with a new VIP buyer program that it says can help dealers work with independent auto auctions through a […] [Read More]

In a move that the company expects to generate approximately $115 million in annualized revenues, Group 1 Automotive has acquired five Volkswagen franchises in the U.K. The franchises, located in the county of Essex — which is east of London — include four Volkswagen franchises and one Volkswagen Commercial Vehicle franchise.  Group 1 said the […] [Read More]

If a representative from your collections department is trying to find the person who is behind on their vehicle retail installment sales contract, a reasonable chance exists that other organizations are seeking the whereabouts of that individual, too, because of a debt issue. The newest report from the Consumer Financial Protection Bureau showed that more […] [Read More]

Perhaps now Equifax, along with federal and state regulators, can close the chapter of the company’s history that included the 2017 data breach. On Monday, the credit bureau announced a comprehensive $671 million resolution that includes settlement agreements that would resolve the multi-district consumer class action litigation, as well as investigations by the Federal Trade […] [Read More]

On Monday, Budco Financial announced the integration of its 0% payment plan services into the entire suite of Darwin Automotive F&I software solutions. Officials explained Budco Financial’s addition to the Darwin F&I and Service menus, digital retailing solution and the new follow up program for previously declined F&I protection, can enable dealerships to seamlessly present, rate […] [Read More]

Collateral performance in the subprime U.S. auto loan asset-backed securities (ABS) sector in May was mixed, according to the most recent S&P Global Ratings report. Analysts discovered subprime auto loan ABS month-to-month declines in both losses and recoveries during May. However, S&P Global noticed losses rose year-over-year and delinquencies increased both month-over-month and year-over-year. Meanwhile, […] [Read More]

Peer-to-peer carsharing marketplace Turo has landed a quarter-billion-dollar investment from IAC, an internet and media holdings company whose portfolio includes the likes of Vimeo, HomeAdvisor, Investopedia, tripsavvy, Angie’s List, Tinder, Match and many more. With the $250 million Series E funding announced Wednesday, Turo has now raised $470 million.   “This latest round of funding brings Turo […] [Read More]

Haig Partners describes John Davis as “a fixture in the professional dealership services sector for over 35 years.” Now Davis, who is a former partner with DHG Dealerships, is joining Haig Partners as managing director. Davis, who joined Haig Partners effective June 1, has served in various leadership positions at DHG.   Haig Partners said […] [Read More]

Global online vehicle auction company Copart has opened a new location in Buffalo, N.Y., and the company’s chief executive officer Jay Adair said the expansion is another step toward the company’s efforts to create “a denser network of facilities in the state.” The new location is the sixth for Copart in the state of New […] [Read More]