Three dealerships in Texas changed hands recently, according to Pinnacle Mergers & Acquisitions, which brokered the deals. IDEA Auto Group, headed by Julie Herrera, has acquired South Austin Nissan from Central Automotive Group. Herrera founded IDEA Auto in 2022, spinning off from the Cavender Auto Family and naming her company after her vision of inclusion, […] [Read More]

Logan Green, co-founder and chairman of Lyft, has joined venture capital firm Autotech Ventures as a venture partner. In a news release, Autotech said Green’s “experience in leading Lyft from inception through hypergrowth and his vision for more equitable and efficient transportation solutions will be invaluable” as Autotech continues to identify and support startups in […] [Read More]

Pagaya Technologies and OneMain Financial announced a new partnership on Tuesday with the goal of offering consumers responsible access to credit. Through this partnership, OneMain’s nonprime auto finance business will leverage Pagaya’s technology to support the company’s ability to serve more qualified customers that are outside its existing credit criteria. The two firms are also […] [Read More]

Southern Auto Finance Co. (SAFCO) used research from the Consumer Financial Protection Bureau to craft and deploy its rebranding initiative to expand credit access for all consumers, regardless of their credit history. The provider of subprime auto financing and other financial services said the CFPB has found approximately 26 million U.S. adults — or one […] [Read More]

Chaiz, an Austin, Texas-based startup that provides a comparison marketplace for extended car warranties, announced an oversubscribed $3.7 million seed funding round on Wednesday. Leading the round is ResilienceVC, with participation from Anker Capital, Automotive Ventures, Everywhere Ventures, FJ Labs, Monte Carlo Capital, Never Lift Ventures, RedBlue Capital, and Springtime Ventures. Chaiz’s prior investors include […] [Read More]

Impel is bracing for growth by adding to its leadership team. The provider of artificial intelligence sales and marketing automation for the auto industry announced two hires and added three new executive positions in the wake of its recent acquisition of customer engagement platform Outsell. In a news release, the company said the moves are […] [Read More]

Full acknowledgement that a good portion of the data-driven updates Cherokee Media Group published on Tuesday contained negative subjects, with a discussion about the possibility of a recession already happening as well as another notable increase in bankruptcy filings. Well, here’s some more upbeat news courtesy of Black Book, which shared its expectations on Tuesday […] [Read More]

Longtime auto auction veteran Tammy Swofford has joined ADESA as senior director of commercial customer solutions. The company said she will be responsible for managing national accounts. “Tammy is a talented industry veteran who excels at partnering with customers to understand their needs and then delivering a solution tailored to maximize potential,” ADESA vice president […] [Read More]

Cox Automotive’s Ken Kraft is putting one more item on his plate. The executive vice president and chief marketing officer will also assume leadership of the company’s sales organization as chief sales officer, Cox said in a news release. Kraft will work with current chief sales officer Tim McKinley, who will retire at the end […] [Read More]

Economists on Monday discussed whether the U.S. already is in a recession. The newest bankruptcy data provided by Epiq AACER might reinforce the point-of-view from experts who see things already in a recessionary state. Also surfacing Monday, Epiq reported total U.S. bankruptcy filings in July increased 24% year-over-year from 35,727 to 44,427. Epiq indicated individual […] [Read More]