Both an existing investor and a new one are backing BizzyCar, a provider of artificial intelligence-powered recall management solutions for dealerships. On Wednesday, BizzyCar announced it has raised $20 million through a follow-up to its Series B funding round. According to a news release, the round was led by existing investor Dealer Tire, with participation […] [Read More]

On Tuesday, Solifi announced the acquisition of DataScan, which has been involved in wholesale finance and inventory risk management for more than 30 years. Financial terms of the transaction were not disclosed, according to a news release. Solifi said the acquisition extends the secured finance technology provider’s automotive offering and open finance platform technology with […] [Read More]

Both KBRA and S&P Global Ratings gave updates this week about its ongoing evaluation of securitizations made by Tricolor Holdings, which recently filed for Chapter 7 bankruptcy. S&P Global Ratings suspended its ratings on six classes of automobile receivables-backed from Tricolor Auto Securitization Trust 2025-2. At the time of suspension, the ratings were on CreditWatch […] [Read More]

America’s Group VP of merger and acquisitions Chris Elliott recently explained how the company evaluates potential acquisitions, emphasizing elements such as “a strong reputation,” and “a good quality staff.” Evidently America’s Group found another auction that met those criteria, as on Wednesday the company announced the acquisition of Mid-State Auto Auction, located in New York […] [Read More]

A key date in the history — and future — of electric vehicles in America is fast approaching. At midnight Sept. 30 the federal government’s EV tax credits will disappear, effectively shooting the price of new EVs up by as much as $7,500 and of lower-priced used EVs by up to $4,500. Not surprisingly, that […] [Read More]

PureCars has released a case study it conducted to show the impact of first-party data and real-time audience targeting. The company used Robyn, an open-source marketing-mix modeling tool from Meta to analyze the effectiveness of using both its AutoMiner customer data platform and digital advertising platform, and found a 20% increase in ad efficiency on […] [Read More]

On Tuesday, Ship.Cars revamped LoadMate, which is an artificial intelligence-powered tool that can automate load creation in the company’s shipper solution. The auto logistics technology company highlighted LoadMate is a platform that combines an advanced transportation management system (TMS) with a proprietary load board. Ship.Cars explained the new feature leverages large language model (LLM) capabilities […] [Read More]

Mike Browning, who has been with Cox Automotive for 20 years and previously served as president of the National Auto Auction Association, has a new role with Manheim. On Tuesday, Manheim named Browning as associate vice president of industry operations to serve as a strategic liaison between Manheim and its independent auction partners, while also […] [Read More]

The National Auto Auction Association got its annual convention started on Tuesday by honoring four executives as Warren Young Fellows. According to a news release, Tommy Rogers, Nate Simonson, Butch Herdegen, and Ray Priest have been recognized by the association for their contributions and distinguished service to the wholesale industry following their term as president […] [Read More]

AutoNation showed off its newest showpiece with a grand reopening ceremony. The national vehicle retailer debuted its new Porsche Newport Beach retail and service center in Newport Beach, Calif., last week following a “ground-up redevelopment” designed to deliver an “unparalleled luxury automotive experience.” The grand reopening included “curated culinary stations” and comedy from America’s Got […] [Read More]