Car-shopping marketplace and dealer reputation site Cars.com named the winners of its annual Dealer of the Year Awards, honoring dealers based on average star rating, total number of reviews and the dealer’s response to those reviews. The company selected 987 winners from the more than 50,000 U.S. and Canadian auto dealers with profiles who had […] [Read More]

Artificial intelligence has permeated much of auto finance.  But the use of AI by bad actors triggered the Federal Communications Commission to make multiple moves in recent weeks. The FCC recently announced the unanimous adoption of a declaratory ruling that recognizes calls made with AI-generated voices are “artificial” under the Telephone Consumer Protection Act (TCPA).   […] [Read More]

A new online automotive marketplace is focusing on the large and growing Hispanic market. Autogozo.com, launched by digital auto sales technology provider izmocars, is a Spanish-language auto portal that seeks to bridge the gap between Hispanic car buyers and dealers. “With millions of Hispanic buyers actively searching for their next car, we recognized the urgent […] [Read More]

This week, Solifi released its 2024 Global Leasing Report that details the trends, economic projections and insights into the top 50 leasing markets worldwide. The report indicated that global growth is predicted to decrease to 2.9% in 2024, which is below the historical average of 3.8%. However, experts still anticipated that, despite the pandemic, the […] [Read More]

In December 2022, Carputty announced the closing of a $12.3 million Series A funding round that at the time brought its total funding amount to $21.96 million. On Wednesday, the fintech company that wants to modernize both auto financing and vehicle ownership, announced the successful closure of a $75 million warehouse facility with Silicon Valley […] [Read More]

UVeye has joined with Acadia Insurance in a strategic collaboration the companies said will “reshape the automotive insurance claim landscape.” The partnership integrates UVeye’s artificial intelligence-powered computer vision automated vehicle inspection systems into Acadia’s appraisal process to add efficiency and accuracy, accelerating the claims process for vehicles involved in accidents. UVeye said its drive-through systems […] [Read More]

Del Grande Dealer Group CEO Jeremy Beaver called the latest tool from National Credit Center (NCC) a “game changer.” What triggered such a reaction about the NCC Clarity credit report? “It allows our team to quickly focus on the most important data to identify the right lender and improve our guests’ experience in our dealership,” […] [Read More]

A recently sold dealership has changed hands once more. Koons Wilmington Lexus in Wilmington, Del., has been acquired by Maryland-based MileOne Autogroup, which purchased the store from Asbury Automotive Group, according to the Presidio Group, which represented the seller in the transaction. It was the second sale of the store in three months. Asbury took […] [Read More]

Fueled in part by strengthening values of compact cars and a Tesla Cybertruck hitting the wholesale market, “February concluded with robust performance,” Black Book said in its latest weekly report. Analysts reinforced their assertion because overall depreciation was just 0.16% during the week that included Leap Day and the first two days of March. Black […] [Read More]

Karma Automotive, a Southern California-based “ultra-luxury” electric vehicle manufacturer, has acquired the technology assets and IP of software company Airbiquity, based in Seattle. Karma said it has also hired Airbiquity’s key technical employees and assumed its OEM contracts. The acquisition gives Karma access to Airbiquity’s connected vehicle systems, including over-the-air updates, software development tools, data […] [Read More]