Columbus Day Weekend car shopping activity was down this year, according to new data from Cox Automotive brands Dealer.com and Dealertrack. “Normally we see an increase in shopping behavior on holiday weekends, but on Columbus Day we saw a decrease,” Cox Automotive product analytics senior director James Grace said in a phone interview with Auto […] [Read More]

Online car leasing marketplace Honcker closed a seed financing round of $3.6 million on Thursday, and said it will now provide delivery to customers in eight states. Honcker plans to use the round, which was led by Evolution Corporate Advisors, to grow its dealership network, geographic footprint and customer base. Additionally, Honcker will use the […] [Read More]

While the alternative fuel segment has remained the leading category in shopper interest growth since January, consumers are also showing increased interest in full-size luxury sedans, according to the latest monthly share of shopper interest data from Jumpstart Automotive Media. The report reveals that shopper interest in full-size luxury sedans grew a notable 15 percent […] [Read More]

As S&P Global Ratings noticed collateral performance in the U.S. subprime auto loan asset-backed securities (ABS) market deteriorated moderately on a sequential basis in August, Davis & Gilbert’s Insolvency, Creditors’ Rights & Financial Products Practice Group fears investors could be in for a surprise if that market segment makes a more notable move. First, S&P […] [Read More]

Risk management technology provider Verifacto finalized a partnership with Berkshire Risk Services, a collateral protection insurance (CPI) company for dealers and auto finance companies. Through the partnership with Berkshire Risk Services, Verifacto — one of the new exhibitors coming to Used Car Week — now can enable its clients to place a CPI policy and […] [Read More]

Fair, an app that provides used-car leasing to consumers on a flexible basis, announced two major investments on Friday. The company said it is closing a BMW i Ventures-led strategic funding round that also includes investments from Penske Automotive Group, among other strategic investors. Additionally, Fair has secured a total of nearly $1 billion in offers […] [Read More]

TradeRev announced three executive changes Thursday, including sales team promotions and additions following KAR Auction Services recent acquisition of remaining interest in the company earlier this month. In 2014, KAR purchased a 50-percent stake in TradeRev and over the next four years, acquired the remaining interest for $50 million in cash and an additional $75 […] [Read More]

Groupe PSA is getting into the peer-to-peer used-car sales with the launch of Carventura.com. This development not only broadens the company’s used-car presence, but aligns with its Push to Pass plan, a tenet of which includes “digital transformation.” The Carventura site aims to add some security for both buyers and sellers in a market that […] [Read More]

In this week’s episode, Joe heads to Atlanta to talk with Clutch Technologies president Vince Zappa about the how vehicle subscription works.   Clutch is a provider of software that facilitates this alternative car ownership model, which allows drivers to “flip” into new cars based on their needs at the moment. For instance, you need […] [Read More]

Black Book announced Thursday it has partnered with AutoAlert to populate the data-mining and communication solution’s algorithms with its vehicle valuation data. “With the addition of Black Book, our dealer customers will have access to the industry’s most accurate vehicle valuation data, which can make a significant difference in elevating profit potential,"  AutoAlert general manager […] [Read More]