Online marketplace Shift, which last month announced a series D fundraising round led by Lithia Motors as well as a partnership with the dealer group, has quadrupled its floorplan capacity thanks to a new credit line for buying used cars. And with this news also comes more good news for Shift: Lithia has acquired more […] [Read More]

It’s not just Hulu, Amazon and Netflix that are joining TV networks to get in on original programming. So, too, is the car business — more specifically, autoTRADER.ca. The online marketplace, which is part of the TRADER Corp. family, has launched “Ungaraging,” a series that spotlights professional athletes and their garages. The first episode will feature […] [Read More]

On Thursday, DIMONT welcomed two sales executives to its automotive team who have spent part of their careers at companies such as Black Book, FICO and Exeter Finance. The Dallas-based provider of insurance claims adjusting and collateral loss mitigation services hired Leland Brewer and Glenn Mitchell as the company’s senior directors of sales in auto. […] [Read More]

A week after making it official that the company acquired Remarketing of America, Location Services returned to acquisition mode on Wednesday by securing five more operations for its portfolio. Location Services announced the acquisition of Auto Approve as well as four recovery agencies, including Repossessors Inc., CARS Recovery, Digital Dog Auto Recovery and American Recovery Specialists […] [Read More]

TruDecision’s advisory board already includes a leading blockchain researcher. And now the fintech company looking to provide sophisticated applications of artificial intelligence, machine learning and other quantitative tools for dealers and finance companies now has former high-level executive from GM Financial on that advisory board, too. TruDecision announced on Wednesday that its advisory board now […] [Read More]

Veteran dealers understand that appraising a vehicle not only is about considering the current value as it sits in front of them, but also projecting what the figure might be to get that model rolled over the curb. Automotive artificial intelligence platform CarStory on Thursday announced the launch of CarStory Appraise — a dealer appraisal […] [Read More]

Federal officials said Hurricane Michael made landfall near Mexico Beach, Fla., on Wednesday afternoon as a Category 4 storm with maximum sustained winds surpassing 150 mph. The second major hurricane to strike the Southeast during the past month prompted Cox Automotive experts again to project how many more vehicles will be lost because of intense wind […] [Read More]

Roger Penske, owner of Penske Automotive Group and multiple successful motorsports teams, will be the recipient of this year's Spirit of Competition Award from the Simeone Foundation Automotive Museum. An award gala for Penske will be held on Halloween night at the museum in Philadelphia. “No one epitomizes the ‘Spirit of Competition’ more than Roger […] [Read More]

Perhaps not surprising to dealership managers and salespeople, consumers are walking into showrooms ready for conflict. Over what? It's the retail price of that vehicle that might already be jeopardy of generating little margin — or worse — a potential net loss while also creating an anchor on the store floorplan. More details from the […] [Read More]

After five years of ownership, the average vehicle is worth about half of what its value was as a new car. But for one clear leader in the clubhouse, you can nearly cut that depreciation in two. According to an analysis from iSeeCars.com, the four-door Jeep Wrangler Unlimited loses 27.3 percent of its value in […] [Read More]