Are tariffs on every car shopper’s mind? Maybe not, but data from Car Wars indicates “a significant shift” in customer conversations, with more dealership customers talking about the issue in the week before President Trump’s 25% auto tariffs took effect on April 3. The provider of call tracking, texting and phone technology for auto dealerships […] [Read More]

CreditApp Technologies wants to give car dealers the credit … for providing credit. The Calgary-based provider of indirect lending software has introduced a branded dealer financing portal for Canadian automotive and powersports dealers, a tool it’s touting as the first of its kind. CreditApp said the portal enables dealers to fully personalize their buyers’ finance […] [Read More]

Plug, which is an online wholesale auction platform exclusively for electric vehicles, said Tuesday it has secured $6.7 million in seed funding and launched an EV-focused trade-in solution for dealers. Starting with the funding, the round’s leaders were Floodgate, Autotech Ventures and A*. Also participating were Leap Forward Ventures, Renn Global, Cleo Capital, Toba Capital […] [Read More]

Fleet managers are struggling to properly use total cost of ownership metrics when it comes to electric vehicles, according to a new study by EVAI. The provider of data analytics and artificial intelligence-driven fleet management technology said its online survey of more than 2,500 fleet executives, conducted in March, “highlights the challenges and frustrations faced […] [Read More]

FM Capital, a venture capital firm focused on early-to-mid stage technology companies in automotive and transportation, announced it has completed its largest fund close to date. FM said its Fund IV raised $240 million. The oversubscribed round included new and existing investors including dealers, distributors, OEMs, suppliers, insurers and other industry-related entities. “We’re elated that […] [Read More]

The basketball court wasn’t the only place for “madness” last month. With tariffs on the horizon and automotive uncertainty swirling, March produced a flurry of activity in the wholesale car market. The Trump administration’s 25% tariffs on imported vehicles — which became effective Thursday — led to “increased urgency” from consumers to buy new cars […] [Read More]

defi MANAGED SERVICING Remarketing, the remarketing services of the defi SOLUTIONS platform, has named Manheim Pennsylvania as its 2024 Auction of the Year. In a news release, the company said Manheim Pennsylvania, along with rest of Manheim’s more than 100 locations and mobile auctions, “continues to achieve the highest standards of performance and customer service […] [Read More]

Tariffs are creating complex situations for companies inside and outside of automotive, so Bloomberg is turning to artificial intelligence to sort through them. On Monday, Bloomberg launched AI-Powered Document Insights, which uses generative AI to make it easier for research analysts and corporate decision makers to quickly find details from a company document by asking […] [Read More]

Nanette Graviet began her career at Mountain America Credit Union 31 years ago as a part-time teller. Her journey with the credit union that has more than 1 million members and $20 billion in assets is continuing, as Mountain America recently promoted Graviet to be its senior vice president and chief risk officer. In her […] [Read More]

With an eye toward national expansion among other growth objectives, Veros Credit on Monday announced a strategic investment from ITOCHU International, a global leader in trading and investment. According to a news release, the investment may result in ITOCHU acquiring a minority ownership stake in Veros Credit, underscoring both companies’ shared commitment to long-term growth […] [Read More]