STELLA Automotive AI received a nice gift from its investors this holiday season. The provider of automotive artificial intelligence technology announced a new round of convertible loan financing that raised $11 million. The Presidio Group, which advised STELLA in the financing, said the raise was led by Reynolds and Reynolds, a previously existing investor and […] [Read More]

Lender Compliance Technologies (LCT) reinforced its executive team on Thursday as the previous Emerging 8 honoree continues to roll out Refund Control, a finance company-managed cloud platform for tracking and managing F&I product cancellations and consumer refunds. Joining LCT as its new executive vice president and chief revenue officer is Brad Rogers, whose 30 years […] [Read More]

Experian Automotive senior director Jim Maguire came to Used Car Week 2024 in Scottsdale, Ariz., with a straightforward premise for his presentation: the connection between vehicle collateral quality and the likelihood of default. After spending time with attendees, Maguire gave a recap of the Experian data and insight that supported this thesis for this episode […] [Read More]

Two days after announcing the acquisition of Strategic Remarketing Solutions, Location Services made another big move. The company said Thursday it has hired former GE and Element Fleet Corp. remarketing executive Paul Seger as its chief remarketing officer. Seger is on the board of directors of the Automotive Remarketing Alliance. He was the group’s president […] [Read More]

DAS Technology had a big day Wednesday. The consumer engagement SaaS artificial intelligence technology company made two big announcements at its eighth annual AUTOVATE conference in Scottsdale, Ariz.: the launch of a new messaging tool and the company’s 10th acquisition. DAS said its new AI Engage combines DAS’ AI-powered messaging technology (including lead response capabilities) […] [Read More]

Perhaps the electric-vehicle market simply is recharging — at least from a financing perspective. According to Experian’s State of the Automotive Finance Market Report: Q3 2024, consumer interest in EVs found additional juice in the third quarter, even following several quarters of incremental growth. Analysts indicated EVs accounted for 10.06% of new vehicle financing during […] [Read More]

Gene Daughtry’s packed travel itinerary again included Scottsdale, Ariz., for Used Car Week, so the senior consultant for Auto Master Systems made another appearance on the Auto Remarketing Podcast. While collections continue to be a top dealership concern, Daughtry explained why some operators are upbeat about 2025 and beyond. Listen to the episode in the […] [Read More]

Demand for electric vehicles in Canada seems to be powering down. Ernst & Young’s latest EY Mobility Consumer Index report shows Canadian consumers’ intent to purchase an EV has sunk 2% from 2023, even as overall vehicle purchase intent rose 6%. EY’s survey found 48% of Canadians plan to buy a car in 2025, up […] [Read More]

The Canadian used wholesale vehicle market continued to trend downward last week, and at the same rate as the week before, according to Canadian Black Book’s weekly Market Insights report. Vehicle values fell 0.33% overall in the week ending Nov. 30, matching the decline from the previous week, and again trucks led the way, though […] [Read More]

Affordability evidently isn’t just a consideration within the subprime market. Experian highlighted on Thursday that affordability also is pushing some prime and super prime consumers to return to used vehicles. That’s just one of the findings included in Experian’s State of the Automotive Finance Market Report: Q3 2024. While the new-vehicle finance market continued to […] [Read More]