Dealer Services Network (DSN) made two acquisitions in January. This week, the technology-enabled provider of title and registration services for mobility customers added to its executive team. Bringing more than two decades of experience to the operation is Jennifer Somers, who will serve as its director of technology. In this new capacity, DSN said Somers […] [Read More]

Launcher landed its second alliance of the week on Thursday with the newest one aimed at expanding access to credit within the Hispanic market. Launcher now is integrated with Conecta Marketing Group in order to help finance companies optimize their customer acquisition operations. Previously, Launcher made a move with Scienaptic AI aimed at benefitting mutual […] [Read More]

The Consumer Financial Protection Bureau recently recapped the monetary impact the regulator made through its enforcement actions and other moves last year. In 2023, the CFPB said it filed 29 enforcement actions and resolved through final orders with six previously filed lawsuits. Those orders required offenders to pay approximately $3.07 billion to compensate harmed consumers […] [Read More]

We begin our series of podcasts from the expo hall floor at NADA Show 2024 in Las Vegas with this interview of CarGurus CEO Jason Trevisan. Trevisan and Cherokee Media Group’s Joe Overby discuss the evolution of CarGurus’ business model, challenges and opportunities in the wholesale car market, the company’s pre-qualification network for auto financing, […] [Read More]

DAS Technology made its pitch at the NADA Show 2024 — and closed the deal. The consumer engagement technology company was the grand prize winner of the NADA Show’s second annual Exhibitor Pitch Competition, a Shark Tank-inspired competition among vendors at the event held earlier this month in Las Vegas. Fifty vendors submitted audio entries […] [Read More]

Ciocca Automotive boosted its already considerable presence in Pennsylvania with the acquisition of Apple Automotive Group from The Stewart Companies. The deal includes Apple’s 10 franchised dealerships in York County, Pa., representing BMW, Ford, Chevrolet, Chrysler-Dodge-Jeep-Ram, Honda, Nissan and Subaru, as well as two used vehicle stores and six collision centers. Haig Partners, which represented […] [Read More]

CARFAX Canada will soon have a new leader at the helm. Shawn Vording will become the vehicle history report company’s new president, effective March 1. Vording most recently served as vice president of product and sales. Vording brings along 15 years of experience with CARFAX Canada into his new role of president He has also […] [Read More]

Empire Indemnity Insurance Company Risk Retention Group now has a Diamond level business partnership with the National Independent Automobile Dealers Association. Empire chief operating officer Eric Hurst said this strategic move solidifies Empire’s commitment to providing “unparalleled support to dealers and lenders nationwide.” Empire is a subsidiary of MEI Group, a Texas-based conglomerate with strategic […] [Read More]

S&P Global Ratings is projecting the auto securitization market to grow this year after setting a record in 2023. Analysts explained this week that pent-up demand for vehicles drove new-car sales 13% higher year-over-year to 15.5 million units in 2023, catapulting U.S. auto ABS issuance volume up by approximately 33% to a record $120 billion. […] [Read More]

While sales of certified pre-owned vehicles may have risen last year, dealers tell Auto Remarketing it was a tough year for them on several levels. They anticipate 2024 will be a better year for CPO sales, with some caveats. Demand for CPO vehicles in 2024 will not be a problem. A CPO vehicle “is something consumers ... [Read More]