Last year was another good one for Credit Union Leasing of America (CULA), which generated double-digit growth of its portfolio as well as credit union and dealer partners. CULA said its number of credit union partnerships increased 24% year-over-year, with four of those additions driving expansion into multiple states. In addition, the company grew its […] [Read More]

On Tuesday, Alfa unveiled the third of six releases that make up Alfa Systems 6, which is the revamped iteration of the Alfa Systems software platform. The automotive finance technology provider highlighted Sustainability offers new capabilities to address the industry’s evolving needs, particularly those finance companies that are driven by sustainability and changing business models. […] [Read More]

Agora Data CEO Steve Burke referenced the company being in growth mode during a conversation at NADA Show 2024 in early February. On Tuesday, the fintech company with a mission to “enable any car dealer to be a finance company” highlighted the successful closing of three funding streams. In three transactions that have already closed […] [Read More]

If you’ve taken older cars on trade and don’t want to retail them, the current wholesale market looks like fertile ground for those units. While highlighting the overall wholesale market generated a 0.17% price increase last week, Black Book pointed out values for 8-to 16-year-old cars rose 0.14%. Furthermore, the newest installment of Market Insights […] [Read More]

It’s 2024, and the turmoil that surrounded the National Independent Automobile Dealers Association in 2021-22 is gone, if not forgotten. “The past is a cancer,” said Wendy Rinehart, executive director of the NIADA-affiliated Ohio IADA. “We beat the cancer.” The focus now for NIADA, its state affiliates, its members and the independent dealer community at large — which includes the vendors that serve it — is unwaveringly forward. And that has its leaders, members and industry partners excited about ... [Read More]

Relying on luck? Then move to Vegas. March is the month of Saint Patrick’s Day and the luck of the Irish — so let’s talk about luck. Never underestimate the power and gift of luck, but remember: It’s a bonus, not a plan. In fact, most people you might consider to be lucky, in most […] [Read More]

Next up on our series of episodes from NADA Show 2024, Erin Kerrigan, who is co-founder and managing director of Kerrigan Advisors, connects with Cherokee Media Group’s Joe Overby during the J.D. Power Auto Summit in Las Vegas. They discuss dealership buy-sell activity, dealer groups diversifying their lines of business, the state of used-car standalone […] [Read More]

Tech-enabled mobile car care company Yoshi Mobility bolstered its operations along the West Coast by acquiring Mobile Auto Concepts Inc., the companies announced. The San Francisco-based mobile automotive services company, which specializes in tire care and replacement, preventative maintenance, multipoint inspections, eco-friendly washes and more, operates in major western markets, including San Francisco-San Jose-Oakland, Sacramento, […] [Read More]

Holman has closed its acquisition of North Carolina-based Leith Automotive Group, a deal Holman said nearly doubles its automotive retail business. The companies announced an agreement for the transaction in January. The purchase, which Holman said is the largest in the company’s 100-year history, includes 13 new-car franchises and an auction center — the first […] [Read More]

In an era where digital transformation is not just an advantage but a necessity, automotive dealerships stand at the precipice of a new dawn. Artificial intelligence is leading this charge, offering innovative solutions that promise to redefine how dealerships engage with their customers, manage their inventories, and streamline their operations. This spotlight delves into the […] [Read More]