Back in October 2015, AFS Acceptance chief executive officer Dov Szapiro explained why his company’s decision to sell 65 percent of its equity to Mexican finance institution Credito Real “could not have occurred at a better time.” Now this summer, a rebranding initiative and expansion strategy are in full swing for the subprime auto finance […] [Read More]

Fintech business Canada Drives has now officially expanded to both the United States and the United Kingdom, launching USA Drives and UK Drives.  The Vancouver-based company, which along with its group of companies, provides an avenue for consumers to obtain online auto financing and personal loans. It conducted six-month pilot programs in the U.S. and U.K. […] [Read More]

Your potential buyers likely want to know if the vehicle they’re considering has features such as smartphone integration, all wheel drive or an extended warranty. And, according to Autolist’s latest study, consumers overwhelmingly favor a nationwide law requiring dealers to disclose whether a used vehicle has an open recall, too. The survey, conducted in early […] [Read More]

FCA U.S. has launched a new program designed to provide high-potential dealer candidates with startup funding that is sourced from relationships with Chrysler Capital and Ally Financial. FCA said that its new Dealer Market Investment program can assist potential Chrysler-Dodge-Jeep-Ram or Alfa Romeo-Maserati dealers who have limited funds and may also benefit from being matched with specific markets. […] [Read More]

RVI Group has promoted both Daniel Egan and Michael McGroarty to serve as co-chief operating officers in fulfillment of its redesigned organizational structure, the company announced Monday. Egan and McGroarty will now report to RVI chief executive officer Douglas May, and all other company senior leadership will report to either Egan or McGroarty. “During their long […] [Read More]

Pfaff Automotive Partners has acquired a Mercedes-Benz dealership in Kitchener, Ontario, the group announced early this month. Now named Mercedes-Benz Kitchener-Waterloo, Pfaff’s newly purchased facility spans 41,000 square-feet and was last owned by Victoria Star Motors, which first launched operations at the location in 1994. “When I was getting my start in the automotive industry, I worked […] [Read More]

At the year’s halfway point, bankruptcy filings are down year-over-year, according to figures distributed by the American Bankruptcy Institute. Data provided by Epiq Systems showed total bankruptcy filings during the first six months of the year decreased 3 percent to 388,199 cases, down from the 399,522 total filings during the same period in 2017. Total […] [Read More]

Dominion Dealer Solutions has introduced a newly enhanced cloud-based DMS solution, the company announced Tuesday. Along with allowing flexibility for third-party integration, Dominion's VUE DMS features browser-based tablet-ready software for dealership service advisers. A fully-integrated service application within the updated DMS features several built-in modules, including electronic multi-point inspections (MPI) functionality, maintenance menus and simplified route sheets. “Our built-in features […] [Read More]

For any relatively young tech company looking to continue spreading its wings from coast to coast, milestones can be huge. And Buffalo, N.Y.-based ACV Auctions — which has its sights set on taking its rapidly expanding marketplace to California by year’s end — hit a few this spring. On the last day of May, there […] [Read More]

Even with all of the clashes happening on Capitol Hill nowadays, U.S. Senate Minority Leader Charles Schumer over the weekend delivered a letter to the Federal Trade Commission to outline his significant concerns about what the New York lawmaker dubbed, “hurricane cars.” As a storm currently brews off of the North Carolina coast and is […] [Read More]