Moncton, New Brunswick-based TSI Auto Solutions has been purchased by NCM Associates, a firm out of Kansas City, Mo., whose claim to fame is founding the 20 Group process. NCM said in a news release Thursday that it will be “business as usual” for the two companies in the near term and that “any merger […] [Read More]

It was a weird summer. That is, in terms of vehicle demand and prices. Stemming from concern over potential tariffs on vehicles and car parts that pulled demand forward, Cox Automotive chief economist Jonathan Smoke said in a conference call with reporters this week that June, July and August were the best months so far this […] [Read More]

Expansion appears to be the name of the game right now in the world of online car retailers. This week, Carvana has launched in its fourth South Carolina market and its 80th overall. Meanwhile, online vehicle store Joydrive has expanded into Oklahoma through a partnership with the Jim Glover Auto Family. Starting with Carvana, the […] [Read More]

CarMax tapped a top executive in the food business to help its used-vehicle retail operations. On Tuesday, CarMax announced that its board of directors has elected Pietro Satriano to membership on the board; a move that was effective on Monday. The company added Satriano will serve on its nominating and governance committee. Satriano has been the […] [Read More]

HyreCar is taking additional steps to insure vehicles within its platform. The carsharing marketplace for ridesharing on Tuesday announced its strategic joint venture with Dave Haley, chief executive officer of American Business Insurance Services (ABI), and Peter Foley, chief executive officer of LILCHA Holdings. An extension of an ongoing partnership, HyreCar explained this venture will […] [Read More]

Industry leaders reiterated during this summer’s Automotive Intelligence Summit the importance of collaboration as technology evolves. Another example of those kinds of partnerships recently came to fruition involving Jericho Information Technology and OneMagnify. Dave McCune, president of Jericho Information Technology which has provided analytics, risk, contact management, compliance and complaint resolution services to indirect auto […] [Read More]

A member of the SubPrime 175 is enhancing its resources to maintain compliance with state and federal guidelines to better serve its auto-finance clients. Victory Recovery Services, a provider of skip-tracing and national repossession management for creditors with collateral secured contracts, is taking another step in enhancing its risk assessment and due diligence efforts by […] [Read More]

When reacting to this week’s trade announcement coming from the White House, one of Edmunds experts cautioned that, “Given that new-vehicle prices are already stretched to record highs, things could take an ugly turn for consumer wallets, especially considering the trend of continuously rising interest rates.” Well, that ugliness Edmunds referenced might have arrived just […] [Read More]

Less than three weeks after announcing it was leading a $140 million round of funding in online auto marketplace Shift, Lithia Motors made another tech-related move on Tuesday. The retailer is giving customers a new way to get in touch with its dealerships. That is, through Apple Business Chat, which lets consumers connect directly with […] [Read More]

Certified used-vehicle sales are poised to set another all-time record in 2018, predict analysts, manufacturers and dealers. A healthy influx of off-lease vehicles and a better grasp on the value of certification among dealers and consumers are keeping demand for CPO vehicles strong.  Helping things along is that light trucks make up a bigger portion […] [Read More]