Along with appointing a new chief executive officer, ACV Auctions this week announced that it has raised $5 million in venture funding, led by Tribeca Venture Partners, with participation from SoftBank Capital NY, Armory Square Ventures and Rand Capital. In addition, the company appointed Synacor founder George Chamoun as CEO. In conjunction with the financing, […] [Read More]

GPS tracking solutions provider PassTime finalized a strategic partnership on Tuesday with Customized Dealer Financial Solutions (CDFS), which can provide underwriting predictive modeling and analytics to buy-here, pay-here dealerships to help reduce their repossessions and improve their profitability and cash flow. The companies highlighted the partnership will focus on cross marketing and promotion to benefit […] [Read More]

While noting that outstanding balances are at an all-time high, auto defaults moved higher again in August, but not to a degree to trigger an alarm from S&P Dow Jones Indices and Experian. The auto segment of the S&P/Experian Consumer Credit Default Indices for August posted an 8 basis point increase versus the previous month […] [Read More]

Online retailer Vroom has completed a $50 million Series E funding that brings the company’s total funding to $218 million. The funding round — led by T. Rowe Price Associates — will be used to “drive accelerated growth,” the company said in a news release Tuesday. Others in the funding round include new investors Altimeter […] [Read More]

Kathy Ward, president and chief executive officer at Canadian Black Book, is retiring after 36 years with the company. The announcement came from president Brad Rome during the 19th annual Canadian Black Book Charity Golf Tournament. Ward, who as a young woman entered a predominantly male industry, hopes her legacy is to empower women to […] [Read More]

The 2016 BC Auto Industry Conference is set for Oct. 13-14 at the Sun Peaks Grand Hotel & Conference Centre in Sun Peaks, British Columbia. The conference, presented by the New Car Dealers Association of BC in partnership with Auto Remarketing Canada, brings together dealers from around the province, top industry experts from throughout the […] [Read More]

At the moment, the top priority at DAA Seattle is finding space to park all of the cars arriving at the auction. “That is a short-term focus though,” said Brian McConkey, the auction’s human resources manager. “Under normal circumstances the top priority is developing leaders,” he said. “We are constantly identifying future leaders and molding […] [Read More]

There are four core values at DAA Northwest, says Mitzi VanVoorhis, the director of marketing at McConkey Auction Group, of which the Spokane, Wash., auction is a member. Those are: integrity, excellence, professionalism and fun. “These values are listed in order of importance, and learning about them is part of every new employee’s orientation process. […] [Read More]

Enterprise Car Sales recently opened two new locations to better serve customers in the Phoenix area. To celebrate the openings, officials highlighted all Enterprise Car Sales locations in Arizona will appraise trade-in vehicles using Kelley Blue Book trade-in value plus an additional $1,000 in a move to be extended to vehicle buyers through Sept. 30. […] [Read More]

National independent third-party inspection company Alliance Inspection Management (AiM) has hired Mike Francis as the national sales director of used cars and rental cars. The company highlighted on Monday that Francis will lead and oversee AiM’s sales growth and retention in its major used and rental car vehicle inspection markets, focusing on developing and fostering […] [Read More]