Tenet Energy, a climate fintech platform that helps consumers and businesses drive electric vehicles for less, announced on Wednesday that it has closed a funding round of more than $30 million, including more than $10 million in Series A investment and a $20 million warehouse debt facility. Led by venture capital firm Nyca Partners, the […] [Read More]

NextGear Capital wants to make sure the dealer voice is heard when it comes to floor-planning and other company activities. Last week, building on the success of its inaugural DRIVE Dealer Advisory Board (DRIVE) launched in 2021, NextGear announced members of its new board for 2023-25 to gain even greater understanding of what independent dealers […] [Read More]

KPA and Reynolds and Reynolds now are working together to help dealerships comply with state and federal financing requirements. On Wednesday, the companies announced a strategic partnership to provide dealerships greater access to Reynolds’ LAW F&I Libraries across all 50 states and KPA’s F&I compliance consulting services, software, and resources. With this partnership, KPA and […] [Read More]

When it comes to used-car retail prices, the third quarter pointed to a “return to normalcy,” a trend that was particularly evident by this metric: late-model used cars have prices that are “notably below” those of new vehicles. That’s according to the latest Used Vehicle Report from Edmunds, which detailed, among other trends, the move […] [Read More]

While many industry leaders were in Scottsdale, Ariz., last week for the discussions and festivities associated with Used Car Week, consignors and dealers mingling through digital and physical auctions found themselves in a “state of correction,” according to Black Book. Black Book made that assertion after watching overall wholesale values tumble 1.55% and the estimated […] [Read More]

With Veterans Day just passing and the holiday season straight ahead, a variety of automotive enterprises intensified their philanthropy endeavors. Starting with a celebration of the military, TrueCar, in partnership with Disabled American Veterans (DAV) and AutoNation, awarded U.S. Army veteran Adam Greathouse of West Virginia with a new vehicle through its DrivenToDrive initiative. Through […] [Read More]

Reviver has joined automotive retail giant Lithia & Driveway in a partnership to offer Reviver’s RPlate digital license plate to the dealer group’s customers. Lithia, which ranks as the nation’s top dealer group with new vehicle retail sales of 271,596 units in 2022, is now part of the Reviver Auto Dealer Reseller program. Lithia will […] [Read More]

DealerOn, a provider of websites and marketing technology for auto dealerships, has finalized its acquisition of automotive digital marketing agency fusionZONE Automotive. DealerOn said the acquisition accelerates its growth and supplements its platform and technology services with fusionZONE’s offerings. “This acquisition represents a significant step in DealerOn’s growth trajectory,” DealerOn CEO Ali Amirrezvani said in […] [Read More]

AutoNation is taking its micro lease pilot program online. The auto retail giant announced the launch of AutoNation Mobility, a fully digital shopping experience offering the new-vehicle micro lease model, which provides customers short-term access to vehicles without the need to purchase. The platform can be found at autonationmobility.com. The micro lease program is currently […] [Read More]

Thanksgiving might be about a week away. But instead of turkey and all the trimmings, Tax Max president and chief executive officer Bill Neylan is already thinking about how refunds can set the table for a tasty way for independent and buy-here, pay-here dealerships to be thankful for a successful end of 2023. In this […] [Read More]