A Florida-based startup that’s “set to disrupt the vehicle acquisition software business and the traditional used-car inventory supply chain standards,” gained another $4 million in funding last week. Founded by Anthony Monteiro, a group of automotive industry legends and technology professionals, AutoAcquireAI has successfully raised $5 million in total seed funding, all from angel investors. […] [Read More]

Tropic published findings from a recent survey last week, showing that finance and procurement teams are preparing for a massive shift toward artificial intelligence adoption, with 86% planning to implement or scale AI initiatives by 2026. With 50% reporting they’re at the beginning of their AI transformation, Tropic’s survey of 100 finance leaders revealed that […] [Read More]

Experts from Comerica Bank and S&P Global Ratings expect the Federal Reserve to maintain a steady course involving interest rates during this week’s Federal Open Market Committee (FOMC) meeting. But experts and policymakers are keeping close watches of the job market, which is experiencing some turbulence judging by the newest Conference Board Employment Trends Index. […] [Read More]

Fast-growing America’s Group is adding to its leadership team with two new vice presidents. The parent company of America’s Auto Auction and AXLE Funding has promoted Melissa Miller to vice president of marketing and Summer Ernsberger to vice president of customer experience, moves the company said reflect its “ongoing commitment to recognizing talent and advancing […] [Read More]

Experian and Plaid want to make consumer activities involving cash more useful for auto-finance companies and other lenders. The companies recently announced a strategic collaboration aimed at lowering barriers to accessing cashflow solutions and expanding financial inclusion. Now, banks, credit unions and consumer lenders can leverage Experian and Plaid’s combined expertise in real-time cashflow data […] [Read More]

After the strongest month in nearly five years, wholesale auction sales were “substantially more muted” in May, but still up more than 3% from a year ago. And though down double-digits from pre-COVID level, year-to-date sales are performing favorably compared to 2024. That’s according to the latest AuctionNet data and commentary from the National Auto […] [Read More]

The American Financial Services Association recently responded to the Federal Trade Commission’s request for feedback about regulations that create impediments to competition. AFSA president-elect Celia Winslow sent a letter sharing concerns about how the FTC has shifted policy regarding the Holder Rule in a manner that that the association sees as harming both the industry […] [Read More]

To a casual observer, Manheim Detroit seems a bit chaotic. People scurrying between moving cars. People peering into and under the hoods of cars. Cars lined up as far as the eye can see. Manheim Detroit is part of the Manheim auction chain and what looks like chaos to the untrained eye in reality is one part of a vehicle-selling powerhouse ... [Read More]

Rivian has created a fertile environment for robust demand for the two new models it will launch in the next few years, Rivian CEO RJ Scaringe said at recent investment bank conferences. That means consumers looking to buy a used Rivian EV at a lower price than the current market offers will have more selection to choose from, but that used supply isn’t likely to appear until 2028 and beyond. Meanwhile, pre-owned Rivians already out there are ... [Read More]

Canadians value vehicle safety. That much is clear, as the latest research from Volvo Car Canada found 81% of Canadians said safety ratings influence their purchasing decisions. But that’s not the end of the story. Volvo’s survey of 1,505 Canadians on the Angus Reid Forum, conducted in May, also showed fewer than half said they […] [Read More]