Carvana made another finance-oriented move on Monday. The online used-vehicle retailer announced it is planning to offer, subject to market conditions and other factors, $300 million in aggregate principal amount of senior notes due in 2023. Carvana explained that it intends to use the net proceeds from this offering to pay its fees and expenses related […] [Read More]

The Manheim Used Vehicle Value Index is now in unchartered territory. The team at Cox Automotive reported on Monday that wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 2.01 percent month-over-month in August. That jump pushed the index reading to 139.7, which is 6.4 percent higher than a year ago […] [Read More]

J.D. Power has unveiled that the Porsche 911 model has the highest rating on its JDPower.com 100-Point Score ranking, which is based on several thousand verified car owner experiences. The company announced Friday that the latest review of its consumer insight study collection shows that the Porsche 911 is the highest-rated 2018 model year vehicle […] [Read More]

Three boards containing 23 industry leaders now have an advisory voice in how the Consumer Financial Protection Bureau operates. Late last week, the bureau announced the appointment of new experts from outside the federal government to the Consumer Advisory Board, Community Bank Advisory Council and Credit Union Advisory Council. The regulator indicated the three advisory committees […] [Read More]

They specialize in crucial skills such as accounting, computer science and law. They hold some of the most important positions at their respective companies. They provide critical guidance and produce high-level results. Continuing the Cherokee Media Group series of award programs that honor the most dedicated and talented professionals from throughout the used-car industry, we […] [Read More]

DealerSocket, a leading provider of software for the automotive industry, on Friday announced the appointment of Gary Ito as chief financial officer. Ito brings three decades of financial and accounting experience to DealerSocket. The company indicated it will lead DealerSocket’s finance and accounting teams focused on driving revenue growth and expansion. He will also lead the […] [Read More]

Maybe visitors to your store’s website do not want pricing information to purchase a vehicle; but rather are looking for the cost of a specific replacement part or feature upgrade. To help stores with those inquiries, automotive live chat provider ActivEngage on Thursday announced a new strategic partnership with Auto Parts Kit. Offering automotive parts […] [Read More]

Not even the strength of a hurricane generated as large of a single-month increase in the Black Book Used Vehicle Retention Index as what editors computed for August. Black Book reported that the index posted a significant month-over-month increase of 1.4 percent. Editors indicated the change last month marked the largest single-month increase since a […] [Read More]

After experiencing 40 percent month-over-month customer growth for the last two quarters, Fair is now in the Windy City. Fair, the used-vehicle subscription company that has had its app in the Apple Store for a year, launched in Chicago on Thursday. According to a news release, the company has partnered with dealers such as Chevrolet […] [Read More]

Extended warranty product provider Protect My Car has new ownership. On Thursday, Protect My Car (PMC) announced that funds managed by Crestview Partners, together with members of PMC’s management team, have completed the acquisition of the company from a private investor group. According to a news release, financial terms of the transaction were not disclosed. […] [Read More]