EFG Companies sees some market strength and positive economic and consumer trends. But the provider of protection products acknowledged there are ongoing vehicle price concerns and lingering inflation coupled with the heightened political climate. EFG said those are ingredients that could spell challenges for retail automotive and powersports dealers through the end of the year. […] [Read More]

This week, 700Credit — a provider of credit reports, compliance solutions, soft pull, identity verification and fraud detection platforms — announced an alliance with Loopit — a Software-as-a-Service (SaaS) provider, specializing in car subscription management and billing solutions for automakers, dealerships and global startups. Loopit has a network of more than 55,000 vehicles, putting the […] [Read More]

Finance companies certainly use artificial intelligence for underwriting and other analytical chores. The BMO Real Financial Progress Index revealed a growing number of Americans — notably Gen Z — is increasingly using AI, too, for management of finances and investments. Among the 37% of Americans using AI to help manage their finances, BMO Financial Group […] [Read More]

Weltman, Weinberg & Reis Co. hosted a ribbon-cutting ceremony last week to celebrate the opening of its new offices near Cleveland. Gregory Kurtz, the mayor of Independence, Ohio, along with members of the city council, joined the festivities that also were live streamed to all seven of Weltman’s offices that have more than 550 employees. […] [Read More]

Advent Resources wants to give dealers a soft landing in the event of a crash. The creator of the Advent Advantage car dealership sales system has launched Advent Parachute, a backup sales DMS designed to give dealerships a reliable contingency plan during primary sales system outages. The company said Parachute provides dealers with instant access […] [Read More]

Perhaps it’s jumping to conclusions, but the only segment in Black Book’s tracking to squeeze out a wholesale value uptick last week might relate to vehicles in position to solve one of the pressing current challenges to get cars financed and retailed. Cox Automotive chief economist Jonathan Smoke said last week that “retail vehicle demand […] [Read More]

Third-party logistics brokerage Montway Auto Transport has introduced real-time vehicle shipment tracking in partnership with technology provider Ship.Cars. Montway said the service offers its customers 24/7 real-time visibility of their shipment status and access to inspection and delivery documents for “increased control and visibility from pickup through delivery.” Ship.Cars announced the launch of its real-time […] [Read More]

After decades of keeping time like a steady drumbeat of automotive market analysis, Tom Kontos enters his swan song as chief economist at ADESA. Kontos is retiring next month, with his official last day at ADESA being Aug. 16, marking the coda to a 40-year career, the last 30 of which were spent as an […] [Read More]

Almost four months after introducing its new president, Gulf States Toyota has added another member to its leadership team. Mike Brennan, a 28-year automotive veteran, has been named chief operating officer and senior vice president, effective Aug. 5. The company said he will oversee field operations, marketing, dealer relations, fixed operations and supply and demand. […] [Read More]

Retail My Ride is using everyone’s favorite four-letter word: free. The auto retail consignment sourcing platform has launched a new initiative called “Get Free Inventory”, which, it said, “offers used car dealerships the opportunity to access free high-quality vehicles of all makes, models and ages through retail consignment from private party and institutional sellers.” “We […] [Read More]