U.S. News & World Report announced Tuesday that Honda earned more Best Cars for the Money awards than any other automaker this year. The awards recognize vehicles that provide consumers with the best combination of quality and value in 14 different automotive categories. Honda models earned awards in four categories, including the CR-V for best […] [Read More]

ACV Auctions announced a $31 million round of Series C venture funding Tuesday that the company says will allow the online auto auction to double its footprint and expand coast-to-coast by year’s end. With this latest round — which was led by led by Bessemer Venture Partners, Tribeca Ventures, SoftBank NY and Armory Square Ventures […] [Read More]

Less than a week after announcing it purchased the active lease portfolio of Uber’s Xchange Leasing, Fair shared two more big moves on Monday: another round of funding and the purchase of vehicle-delivery app Skurt. As far as the capital raise, Fair secured a round of strategic equity funding that is led by Siemens-backed next47 global […] [Read More]

As the industry continues to fill with new operations looking to streamline vehicle delivery through online technology, an entrepreneur who spent 14 years with Ally Financial is rolling out a platform to connect buyers and dealers where the founder claims a testimonial declares: “Just try it. I promise you will be blown away.” Joydrive, which […] [Read More]

The first rendition of the Black Book Used Vehicle Retention Index for 2018 showed the wholesale market is heading into traditional cyclical pattern going into the spring. On Monday, Black Book released the January index, which registered in at 113.1, marking a dip of 0.9 percent from the previous month. The December reading came in […] [Read More]

Infomedia announced Monday that it has appointed former Dealertrack Technologies executive Sharon Kitzman as president of IFM Americas following Karen Blunden’s departure. For over a decade, Kitzman most recently served as vice president and general manager of Dealertrack DMS. In addition to working as an executive and consultant to automotive technology companies, Infomedia said that […] [Read More]

GPS solutions provider Ituran USA has become a bronze-level National Corporate Partner, the National Independent Automobile Dealers Association announced Friday.  Ituran is a long-term partner that began supporting NIADA shortly after launching services in the U.S., according to the company. "Ituran is a global leader in the vehicle GPS tracking industry and an innovative technology developer […] [Read More]

VINFactor said Monday it has upgraded the inventory and pricing recommendations within the platform to include stronger vehicle and market intelligence. Additionally, a vehicle appraisal tool has been added to the platform. VINFactor is a free platform for dealers that provides them insight to guide their decision-making.  It is designed to decode vehicle identification numbers to provide […] [Read More]

Auction Academy announced Monday that its two-year training curriculum will now include IARA CAR Certification. The addition of the IARA CAR Certification program follows the company's move to become a major sponsor of Auction Academy, the organization said.  IARA’s training program is designed to address each step of the remarketing process. It covers the consignment and grounding […] [Read More]

Stretching terms forced Credit Acceptance to adjust its expectations for future cash flows. But increasing contract length to the longest average in company history perhaps helped the finance provider turn around a string of declines in the number originations from active dealers. Before getting into those details, let’s do the numbers of how Credit Acceptance’s […] [Read More]