FM Capital added two more industry experts to boost the venture capital company, which focuses on early-to-mid stage companies in automotive and transportation technology. Joining as technology operating partners are Jake Sigal and Massimo Baldini, who FM Capital called “auto tech pioneers.” According to a news release, the pair will not only provide a range […] [Read More]

Mitsubishi Motors North America, AutoFi and Santander Consumer USA are now working together to deliver “an unparalleled and seamless shopping experience.” This week, the industry trio launched ClickShop 2.0, which connects the vehicle-buying journey from Mitsubishi’s Tier-1 and dealer partners’ Tier-3 websites directly to the Mitsubishi dealer showrooms. ClickShop 2.0 combines MMNA’s dealer-partner network with […] [Read More]

In a nod to the old cliché of “knowledge is power,” CUDL published a new digital book this week that explains how credit union financing can help dealerships sell more vehicles during challenging economic times. Officials from CUDL — the Origence brand representing their credit union financing network — highlighted that the digital book titled, […] [Read More]

On Wednesday, F&I Sentinel announced the successful completion of its acquisition of Express Recoveries from Cox Automotive that was first revealed less than a month ago. The F&I risk management solutions provider said the entire Express Recoveries team that currently supports the business is now part of the expanded F&I Sentinel team. Express Recoveries connects […] [Read More]

Open Lending Corp. finalized a pair of partnerships before closing the first month of the year. First, the provider of risk analytics solutions for financial institutions launched a partner integration with CreditSnap, a fintech platform that can allow financial institutions to deliver lending and deposit account automation using pre-qualification technology, application programming interface (API) integrations […] [Read More]

Black Book’s experts happily used the term “stability” multiple times when compiling their latest installment of Market Insights, which was released on Tuesday. Black Book got to use that word because overall wholesale prices softened 0.33% during the week that included the last day of January and the industry conferences in Las Vegas. Plus, that […] [Read More]

Sure, franchised dealer used-vehicle sales in 2023 fell 7% compared to the previous year and used retail prices declined 3%. Nonetheless, it wasn’t such a bad year for the used market, and 2024 won’t be so bad either, Jonathan Banks, J.D. Power vice president of product development, valuation services, said during the J.D. Power Auto Summit preceding NADA Show 2024. “At first blush (2023) looks like a really challenging year. But actually, it was ... [Read More]

Vehicle reconditioning services provider Dent Wizard International has promoted fixed operations director Ryan Edwards to vice president of its auction channel to lead all auction-related activities while developing and maintaining strategic relationships with stakeholders on a national level. In his new role, the company said Edwards will work to develop and implement a comprehensive auction […] [Read More]

We’re now a year and a half into the upward march for bankruptcies. Reinforcing findings from the Consumer Stress Legal Index (CSLI) recently shared by LegalShield, data provided by Epiq Bankruptcy last week showed total bankruptcy filings jumped 17% year-over-year in January. Epiq reported total bankruptcy filings came in at 36,607 in January up from […] [Read More]

Sourcing, screening and decisioning platform Trust Science has chosen a veteran tech investor and innovation guru to its board of advisors. Chosen for the position is John Ruffolo, whose background includes stints as the founder and managing partner of Maverix Private Equity, founder of OMERS Ventures, and co-founder and vice chair of the Council of […] [Read More]