Online pre-owned car retailer Vroom announced today it has raised $54 million via its Series B funding round, bringing the total amount of equity funding to date up to $73 million. This is in addition to the $19 million previously raised by Vroom during its Series A equity funding round. Some of that first-round investment was from well-known […] [Read More]

Say that four used-car shoppers happen search for your vehicle make online. It’s likely that three will then submit a lead for that specific brand, according to a new whitepaper from CarStory.  And the make most likely to generate “lead loyalty?” It’s Ford. The Lead Loyalty and Intent to Buy Online whitepaper indicates that 84.4 percent […] [Read More]

Hertz Global Holdings spent much its most recent financial performance report highlighting that the company is now up to date on all of its filings with the Securities and Exchange Commission. But Hertz also touched on its fleet plans on Friday, sharing a breakdown of how it is disposing of units as well as the […] [Read More]

If it seems like a new study on the prevalence of mobile shopping comes out every day, you’re just about right. And there’s a reason for that. According to Search Optics, utilizing data provided from the US Mcommerce 2015: eMarketer’s Forecast and Trends report, the U.S. retail mobile market is expected to generate $76.79 billion […] [Read More]

Though Tesla’s direct-to-consumer model has caused quite a stir in among the dealer industry over the past few years, leasing marketplace Swapalease.com took a look at the consumer side of things with interesting results. Though data from its latest survey shows shoppers are mostly in favor of Tesla’s direct-to-consumer sales model, they aren’t sure it […] [Read More]

Trucks and SUVs, in general, made an impressive showing on Autotrader’s list of most popular certified pre-owned vehicles in June, but pickups were especially strong: they accounted for four of the top 10 spots. The overall story out of Autotrader’s Trend Engine data analysis — which looks at monthly shopping activity on Autotrader.com — certainly revolved […] [Read More]

Spireon chief marketing officer Shawn Hansen gave dealers and subprime finance companies what he called the “bottom line” about the potential benefits of the company acquiring Inilex. For operations that demand a GPS device be attached to a vehicle in order for the financing and installment contract to be finalized, Hansen highlighted that Spireon clients […] [Read More]

Perhaps Sen. Richard Shelby, chairman of the Senate Banking Committee, asked the question dealers nationwide would like to pose to Richard Cordray, director of the Consumer Financial Protection Bureau. Shelby took the opportunity when the committee conducted a hearing this week as Cordray made his latest appearance in front of the Senate gathering and shared […] [Read More]

The No. 2 official at the Consumer Financial Protection Bureau has resigned, citing the burden of commuting between his home in Massachusetts and Washington, D.C. According to documents obtained by SubPrime Auto Finance News on Friday, CFPB deputy director Steve Antonakes indicated he’s leaving the bureau to pursue opportunities that will give keep him closer […] [Read More]

Buy-here, pay-here dealers who use FEX DMS or AutoStar Solutions and have questions about their store software platforms now that they're both owned by DealerSocket have the opportunity to see how the company’s future single dealer management system is going to operate. DealerSocket announced on Friday that it will merge the best elements of FEX […] [Read More]