One of the presenting sponsors of Used Car Week 2018 — Digital Recognition Network — recently set a new company record. The artificial intelligence and data analytics company that provides vehicle location data and analytics to finance companies, insurance carriers and other commercial verticals, recently announced the company has reached a key milestone, facilitating the […] [Read More]

There’s been another change in ownership within the floor-planning space. Sopra Steria, a European leader in digital transformation, recently announced the acquisition of lending solutions provider Sword Apak, a subsidiary of Sword Group. Sopra Steria has acquired, through its subsidiary Sopra Banking Software, 100 percent of Sword Apak, which develops specialized solutions for auto financing […] [Read More]

Equifax has a new leader for its automotive endeavors. On Monday, Equifax named Byron McDuffee as automotive general manager to be responsible for leading the company’s automotive business, focusing on expanding enterprise solutions sales opportunities within the automotive market, as well as the continued development of strategic opportunities for products that are designed to offer […] [Read More]

RumbleOn, which has initially focused on motorcycles and other powersports vehicles, has had its eye on “adjacent markets.” Friday, it expanded into one of those: the automobile market. The company — which provides an ecommerce platform for dealers and consumers to buy, sell, trade and finance pre-owned vehicles — announced definitive agreements to purchase Wholesale, […] [Read More]

Groupe PSA has officially launched its Free2Move Carsharing and mobility services in the U.S., with Washington, D.C. as its first market. The group — which includes the Peugeot, Citroen, DS, Opel and Vauxhall  brands — began its “free-floating” car-sharing services in D.C. on Thursday with 600 vehicles throughout the eight wards of the district. Free2Move […] [Read More]

Reconditioning is a vital part of most any retail used-car sales operations, including those in the growing standalone pre-owned store space. With that in mind, EchoPark Automotive — which is Sonic Automotive’s chain of used-car stores — has lined up auto reconditioning software provider AutoMobile Technologies to provide workflow automation software to its reconditioning facilities, […] [Read More]

Kerrigan Advisors has expanded to the East Coast. The California-based firm, which advises dealers on the sell-side of M&A, has opened its second office, setting up shop in the Washington, D.C. metro area. The D.C. office will be led by Gabe Robleto, who joins the company as vice president of buy/sell advisory. Robleto was most […] [Read More]

Sagent Lending Technologies, a joint venture between Fiserv and Warburg Pincus that was previously known as Fiserv Lending Solutions, made a move this week to help auto lenders protect against fraud. The company has integrated the Cross Check identity verification and fraud prevention solution from Innovis Data Solutions into its auto loan origination system. So […] [Read More]

With the industry still sifting through units impacted by Hurricanes Florence and Michael, Carfax shared new information on Thursday, highlighting how many vehicles damaged by flooding remain operation. Compared to this point last year after Hurricanes Harvey and Irma hit the U.S., Carfax reported 478,000 flooded vehicles on the road; a figure that represents a 47-percent […] [Read More]

Protective Asset Protection, a provider of F&I programs, services and dealer-owned warranty programs, recently announced results of a recent survey it commissioned to gauge the pulse of owners of today’s largest automotive dealers on issues ranging from F&I product performance in 2018 to their awareness of the changing tax law on participation programs. When President Donald […] [Read More]