Connected carsharing marketplace Getaround has promoted general manager of gig AJ Lee to chief operating officer. The company said Lee, who will report to CEO Eduardo Iniguez, will be responsible for accelerating Getaround’s growth and path to profitability, as well as overseeing operations, marketing, sales and other functions. Lee said in a news release he’ll […] [Read More]

Three members of the Federal Trade Commission were confirmed on Friday. Two commissioners — Andrew Ferguson and Melissa Holyoak — are beginning their first term, while the third — Rebecca Kelly Slaughter — is starting a second term. Ferguson and Holyoak were nominated on July 11 by President Biden to serve as FTC commissioners. Ferguson’s […] [Read More]

We just sprung forward over the weekend, but Bain & Company is already seeing “green shoots” in the private-equity world. Experts said on Monday those “green shoots” are emerging for prospects this year and beyond within the global private equity world. That’s despite 2023 having generated the sharpest drop-off in private-equity activity since the global […] [Read More]

TomoCredit rolled out its latest tool last week aimed at expanding credit accessibility for millions of Americans. The fintech startup — which began because of experiences of trying to secure auto financing — introduced TomoScore, which TomoCredit said is an innovative cash flow-based credit score that can provides finance companies and lenders a “risk-free” way […] [Read More]

It was springtime in the auction lanes last month. Prices were down double-digit percentages from a year ago, but the market was buzzing as dealers were busy buying units amid blooming retail demand. “The wholesale market got into the spring mood in February, with dealers ... [Read More]

Coinciding with International Women’s Day, Nissan highlighted a pair of success stories on Friday from one of its franchised stores in the Southeast. One recapped the success within a family legacy, while the other highlighted the success of a salesperson originally from Central America, prompting her to say the car business “changed my life.” Nissan […] [Read More]

We Help Dealers, a jack-of-all-trades dealership service provider, is adding another trade — wholesale vehicle acquisition — to its offerings. The company has launched a comprehensive inventory sourcing service, designed to boost dealer efficiency and productivity by handling the necessary research, based on individual dealer preferences. We Help Dealers, founded and owned by auto industry […] [Read More]

It has been a “leap year” in more than one sense for wholesale vehicle volumes. There have already been 1.12 million units sold at auction year-to-date through February, which is a 13% increase from the first two months of 2023, according to AuctionNet data from the National Auto Auction Association shared exclusively with Auto Remarketing. […] [Read More]

The recovery in commercial consignment volume is already bearing fruit for marketplaces in the wholesale auto industry. At OPENLANE, for instance, 710,000 commercial consignment vehicles were sold through its marketplaces last year, compared to 661,000 in 2022. In the fourth quarter, OPENLANE had 183,000 commercial vehicle sales, up from 151,000 a year earlier. The growth in commercial vehicle volumes for the company has ... [Read More]

Federal Reserve chair Jerome Powell and Fed governor Michelle Bowman made separate public appearances on Thursday, but each policymaker maintained similar stances on how the entity is approaching interest rates and inflation. Appearing before the U.S. House Financial Services Committee to give the Federal Reserve’s semiannual monetary policy report, Powell acknowledged that inflation still hasn’t […] [Read More]