On Monday, TrueCar announced a proposed public offering of its common stock that would include an expected 1 million shares of common stock and 7.5 million shares from certain existing TrueCar stockholders. It is anticipated that TrueCar and the selling stockholders will give the underwriters 30 days to buy up to a total of 1.275 […] [Read More]

Consumer Portfolio Services chairman and chief executive officer Brad Bradley likes the position where the subprime auto finance company sits after the first quarter. And it’s not just because CPS posted its 23rd consecutive quarter of positive earnings. Bradley pointed to the difference where CPS stands with more than 25 years in the subprime business […] [Read More]

Space Coast Credit Union recently honored six local dealers with its Watchdog Dealer of the Year Award, recognizing the superior service they provided to SCCU members in 2016. Officials highlighted the award — which has been presented annually to local dealers since 2009 — is calculated based on both SCCU member survey ratings and total […] [Read More]

TrueCar is teaming with Galves Market Data to pilot a trade-in platform. The company signed a memorandum of understanding to partner with R. Hollenshead Auto Sales and Galves Market Data (a Hollenshead subsidiary) for a six-month pilot of TrueCar Trade. The platform, powered by Galves Accu-Trade, aims to provide” completely transparent valuation process designed to […] [Read More]

JMN Transportation recently announced that as a result of increased growth, the company created a transportation manager position that has been filled by Alex Vedder, who transitioned from his previous role as regional manager of JMN’s Georgia locations. In his new role as transportation manager, Vedder will be tasked with overseeing the operational and financial […] [Read More]

When a customer buys a vehicle from a dealership, that transaction in and of itself is not the only important part of that visit. So, too, is establishing a vehicle-service relationship between that shopper and the dealership. That’s crucial, not only from the standpoint of driving a segment of their business with high margins, but […] [Read More]

New York attorney general Eric Schneiderman reached settlements with 104 franchised and independent dealerships, according to an announcement released on Friday. Empire State officials said vehicles were sold to New Yorkers without disclosing that the units were under recall for “dangerous unrepaired safety issues” such as unintended acceleration, airbag problems, vehicle fires, steering and brake […] [Read More]

After articulating various points about what he’s so upbeat about the dealer group’s used-vehicle department current and future performance, Lithia Motor president and chief executive officer Bryan DeBoer staunchly defended how the company is fending off what the investment community is seeing as would-be challengers that operate solely online. During Lithia's latest conference call, when […] [Read More]

Dominion Dealer Solutions announced on Thursday that Dominion Dealer Specialties has introduced LiveLot, a fully responsive video marketing platform that supplies auto dealers with full-service video marketing strategies and tools. On the LiveLot mobile app, dealers can make and publish vehicle inventory videos with custom voiceovers, vehicle walkarounds and customer testimonials. “In the past several […] [Read More]

A quartet of auto finance technology firms collaborated this week on a pair of relationships aimed at enhancing both originations and payments. First, Payix and Nortridge Software announced they formed a strategic alliance to help finance companies connect with their borrowers and improve their ability to collect payments. The alliance is geared to allow Payix […] [Read More]