Already earning high praise from a quartet of finance companies that often operate in the subprime space, Salient announced on Monday that it has secured $60 million in funding to reinforce operations as an artificial intelligence-powered financial services technology provider. Fueling the funding are Andreesen Horowitz, Matrix Partners, Michael Ovitz, and Y Combinator. Salient said […] [Read More]

One of HGreg’s Quebec dealerships certainly merits praise. HGreg INFINITI Laval has been selected for INFINITI Canada’s Order of Merit for the sixth consecutive year. The award recognizes dealerships that demonstrate an exceptional commitment to customer satisfaction, quality of service and operational excellence. “Whether customers are purchasing a vehicle or visiting our service department, our […] [Read More]

With apologies to the postseason dreams of Mets fans (and, subsequently, Yankees fans), the Dodgers knew the value of a trade in 2024. Tommy Edman was traded to Los Angeles during the 2024 season and became an instant hero in the playoffs. He was named MVP of the National League Championships Series, hitting .407 with […] [Read More]

Repairify announced a new hire and two executive promotions on Monday. The provider of remote diagnostics, calibrations, programming, and automotive intelligence for the collision and mechanical repair industries first revealed the hiring of Jennifer Hawxhurst as a vice president of sales and field sales leader. Meanwhile, promoted to new roles at Repairify are Aubrey Dahl, […] [Read More]

Online wholesale EV auction platform Plug wants to work with brick-and-mortar wholesale auctions to offer more services to its consignor customers. It has already partnered with one auction and looks to aggressively add more. “We have found as we try to grow our footprint in commercial consignors that sometimes they need real estate to be part of the service,” Plug founder and CEO Jimmy Douglas told Auto Remarketing. For example, Plug’s customers include auto manufacturers and lenders who have ... [Read More]

Lance Vickery, whose long automotive career includes more than 20 years in leadership roles with CARFAX, has joined Montway Auto Transport as chief revenue officer for strategic growth. The third-party logistics brokerage said Vickery will be responsible for driving revenue growth and fostering long-term partnerships across the automotive sector by leading enterprise-level revenue strategies and […] [Read More]

The list of Carvana’s combined auction-reconditioning facilities is growing again. The online used-car retailer said it plans to add an inspection and reconditioning center to its ADESA Seattle wholesale auction site, making it the 11th such location nationwide. ADESA Seattle has been operating at its 40-acre site in Auburn, Wash., for more than four decades. […] [Read More]

For a day, at least, the dealership buy-sell market is headed in one direction: North. Performance Brokerage Services announced it has advised on the sale of dealerships in Montana and Canada as the week begins. Minnesota-based Marthaler Automotive has acquired Honda of Helena in Helena, Mont. from Jim Parker. Marthaler Automotive founder and president Aaron […] [Read More]

July has been a busy month for Algebrik AI. The provider of a cloud-native, artificial intelligence-powered, digital-era loan origination suite not only finalized two more partnerships, Algebrik AI also landed the work for a Michigan credit union that’s been in operation since 1964. While the new partnerships are with AppOne and Spinwheel, perhaps what has […] [Read More]

As the pre-owned electric vehicle population grows, so too does the importance of measuring EV battery health. And its potential impact on residual values. With that in mind, J.D. Power ALG is now factoring in aggregated EV range and battery insights from Recurrent into its EV value forecasts. J.D. Power ALG has included the Recurrent […] [Read More]