While Vroom continues to suffer a negative financial impact from aged inventory, it did make progress selling down older units in the third quarter. The online used-car retailer sees brighter days ahead and aims to raise capital in 2024, it said during the NASDAQ-listed company’s third quarter earnings call. “This has been a challenging year as we work through ... [Read More]

The subprime space is continuing to lose momentum as 2023 reaches the short rows of potential originations for dealerships and finance companies. What is gaining steam, however, are delinquencies. For the second consecutive quarter, originations softened across most risk tiers, according to Q3 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion. Viewed one quarter […] [Read More]

There’s nothing about paying bills that consumers like, so it follows that the easier and cheaper and most penny perfect they are to pay, the better, right? KISS! The U.S. Navy coined the phrase “KISS” — aka “Keep it Simple Stupid”— in 1960 to refer to jet mechanics, and it was eventually adapted across the […] [Read More]

In October, CarGurus announced a pair of top executive changes; one involving its chief financial officer and another connected to its new head of industry transformation. Then late Tuesday, CarGurus made another significant move, announcing it has entered into a definitive agreement to acquire the remaining minority equity interests in CarOffer for $75 million through […] [Read More]

Resolvion, a provider of national repossession management, skip-tracing, remarketing, license plate recognition, and heavy equipment and specialty recovery, announced on Monday a partnership with AKUVO. As an integrated repossession service provider, the partnership will provide Resolvion the opportunity to serve AKUVO customers more efficiently through Aperture, its collections and portfolio analytics platform. “We are honored […] [Read More]

Audi Thornhill’s new-vehicle sales and service facility located at 7064 Yonge Street has opened, leaving the store’s temporary facility open for certified pre-owned to sweep in. The temporary Audi Thornhill new dealership location at 7079 Yonge Street has been transformed into an Audi Certified :plus pre-owned sales facility. The CPO facility will complement the new-vehicle […] [Read More]

Del Grande Dealer Group has partnered with Hyundai Hope On Wheels, a nonprofit organization dedicated to helping kids fight cancer, to present its annual research and programmatic grants to Lucile Packard Children’s Hospital in Palo Alto, Calif. DGDG, which bills itself as Northern California’s largest family-owned automotive group, operates 19 dealerships in the region with […] [Read More]

Car Wars, a provider of call-tracking and phone-handling systems for the auto industry, has announced an integration with DriveCentric’s customer relationship management software to handle text messages. The collaboration, the company said, uses the advanced capabilities of both Car Wars and DriveCentric to “redefine customer engagement and dealership efficiency.” The texting integration between Car Wars […] [Read More]

Crédito Real USA Finance gained new ownership in April. This week, the finance company that specializes in the Hispanic segment got a new brand name. The operation launched its new brand as FinBe USA, what executives explained as representing “a significant milestone in our journey as a leading force in the auto finance market.” The […] [Read More]

New technology holds radical possibilities for the automotive industry at every level of the sales funnel. Artificial intelligence (AI) is already being used for enhancing promotional images, creating videos, and providing other helpful additions to marketing. AI for merchandising is not the only way this innovative new technology is shifting the auto remarketing industry, however. […] [Read More]