Separate studies of fraud tracking databases determined which states are seeing the highest volume of incidents. Turns out, Georgia and Delaware are topping the fraud charts. First, Bader Scott examined the number of fraud cases reported in each state according to the Federal Trade Commission between last April and this March. The data was then […] [Read More]

Dealertrack regularly watches what conditions are like for consumers to obtain auto financing; a landscape that’s been tightening in recent months. What about the credit environment for finance companies to get the resources they need to book originations? Especially in the non-prime and subprime spaces? While perhaps an interest rate reprieve is arriving sometime this year, Kyle Birch, who is president of North America operations at GM Financial, described the rough sledding the industry is experiencing ... [Read More]

FinTech Automation announced last week that it became the newest service provider supporting live transactions on the Federal Reserve’s instant payment rail — the FedNow Service. The decision came in part because U.S. businesses and consumers are rapidly adopting digital, faster and instant payment services, according to studies recently released by Federal Reserve Financial Services. […] [Read More]

TrueCar is going all in on digital retailing. The digital automotive marketplace has announced the “next evolution” of its TrueCar+ platform, which now allows customers to purchase from more than 3,200 new, used and certified pre-owned vehicles completely online from start to finish. “Our mission is to empower consumers with the tools and information they […] [Read More]

Covideo is applying artificial intelligence to dealership marketing and communications. The software company has launched Covideo AI Assist, an artificial intelligence tool designed to enable dealerships to generate vehicle-specific video scripts, emails and text messages. The company said the tool can save dealers time spent researching and memorizing vehicle information and makes it easier for […] [Read More]

Olivier Vincent, an expert in artificial intelligence, sees the auto industry on the brink of a revolution. Vincent wants dealers and other service providers to take advantage of everything AI can do, especially with understanding consumer needs, tailoring experiences to match individual preferences and improving overall communication. How the industry gets there is the focus […] [Read More]

Impel executive sales manager Ray Gill said, “dealers need to think bigger” when considering the use of artificial intelligence. In a training session from this year’s Canada’s Used Car Week titled, “How AI is Separating the Best from the Rest,” Gill went into an array of explanations and suggestions about how AI can be the […] [Read More]

Point Predictive’s Frank McKenna returned for another episode of the Auto Remarketing Podcast for a discussion about what’s happening on the fraud front. McKenna recapped his keynote appearance at this year’s Non-Prime Auto Financing Conference hosted by the NAF Association as well as the ransomware attack that hit CDK Global and impacted thousands of dealerships. […] [Read More]

Tekion, developer of a cloud-native platform that serves the entire automotive retail ecosystem, has secured $200 million in growth equity capital from Dragoneer Investment Group. In a news release, the company said the financing round raises its market valuation to more than $4 billion and said it plans to use the capital to expand its […] [Read More]

The Presidio Group, an independent banking firm focused on mergers and acquisitions, capital and investments in the automotive retail sector, has named Bloomberg Intelligence senior automotive analyst Kevin Tynan as its new director of research. The company said he’ll be responsible for market insights, content creation and client engagement focused on the U.S. franchised dealer […] [Read More]