Online car retailer Shift has landed a $38 million round of Series C funding led by BMW iVentures. Making the announcement on Wednesday morning, Shift said the round also included new investors DCM Ventures and G2VP, and previous investors DFJ, Highland Capital and Goldman Sachs Investment Partners. BMW iVentures partner Christian Noske is now on Shift’s board […] [Read More]

Well, the clock now is officially running with regard to the Consumer Financial Protection Bureau’s final rule prohibiting the use of class action waivers in arbitration clauses. The rule appeared in the Federal Register on Wednesday, meaning that barring a literal act of Congress, this regulation is effective on Sept. 18. While the industry certainly […] [Read More]

Used-vehicle service contract and related finance and insurance product provider GWC Warranty has released Dealer Portal 2.1 — the latest batch of enhancements to GWC’s online dealer resource center. The company highlighted Dealer Portal 2.1 contains a series of new features and enhancements designed to showcase the powerful Dealer Portal capabilities beyond e-contracting functionality. The […] [Read More]

ACA International elected its new 2017-2018 board of directors and officers this past week as part of the 2017 Convention & Expo in Seattle. New members joining the board for three-year terms are: • Albert Cadena, president and chief executive officer of USCB America in Los Angeles • Scott Purcell, president of Professional Credit Service […] [Read More]

Copart has expanded its locations in both Candia, N.H., and West Warren, Mass., the company announced on Tuesday. "We have grown our business in New England and across the Northeast and are proud to announce these expansions," Copart chief executive officer Jay Adair said in a news release. "They enable us to continue to provide outstanding service to […] [Read More]

Millions of vehicles in the U.S. and Canada have been recalled because of the Takata airbag saga, plus a wide array of other issues. Now Daimler made the move to recall more than 3 million vehicles in Europe to fix emission issues stemming from the diesel engine in certain Mercedes-Benz models. The Daimler board of […] [Read More]

Editors turned a phrase for this week’s Black Book Market Insights report, highlighting that “a mixed bag of vehicle valuation strength” summarized the activity in the lanes. Black Book noticed that some cars and trucks produced a “widening” gap in strength with compact vans and luxury cars generating price gains. But editors also found that […] [Read More]

It was a record half and a record quarter for Kia certified pre-owned Moving just under 40,000 units, Kia Motors America said the first half of the year represented its best six months ever for CPO sales. More specifically, Kia sold 39,799 certified vehicles in the first six months of 2017, beating year-ago figures by […] [Read More]

Black Book now serves as the trade appraisal engine for eAutoAppraise, an online trade-in solution fitted with vehicle shopping features designed to lead dealers to more successful sales transactions. All eAutoAppraise dealers can now provide customizable value ranges on specifically tailored vehicle questions powered Black Book values. Ranges are narrowed down following a series of questions […] [Read More]

As lease offers abound, monthly payments on 39 vehicles maintained their current price points, according to analysis shared by Wantalease.com on Tuesday. Site officials added there are 15 models being offered for $200 per month or less and three vehicles currently available for lease at less than $150 per month. Those units with the least […] [Read More]