CarNow has named former Cars.com executive and DRIVIN co-founder Kayne Grau as its new CEO. Grau’s most recent post was as CEO of Uptake, which operates in the industrial intelligence software-as-a-service space. His background in automotive runs deep. Grau co-founded DRIVIN, which was acquired by what is now known as OPENLANE, and worked in senior […] [Read More]

Finastra announced on Wednesday that LaserPro — its loan document preparation system used by more than 2,500 financial institutions — is now available in the cloud. Finastra highlighted this strategic launch of LaserPro in the cloud is geared to streamline loan document compliance management capabilities for financial institutions with a Software as a Service (SaaS) […] [Read More]

On the Road Lending now has more financial horsepower. The nonprofit organization that launched in Dallas in 2013 said on Wednesday that it received $500,000 in capital from Tolleson Private Bank to deepen its successful initiative across underserved communities throughout the Dallas metropolitan area. On the Road Lending helps clients improve their credit and purchase […] [Read More]

NextGear Capital showed it has a great interest in science, too, not just the automotive financial world. The floorplan provider that focuses on independent dealerships, in collaboration with Cox Enterprises, recently transformed an Indianapolis Public Schools (IPS) classroom into the district’s first fully-funded grade school STEM lab. The company made a $50,000 donation to outfit […] [Read More]

Asbury Automotive Group, one of the nation’s largest automotive retail and service companies, is among the automotive entities named by Newsweek as one of America’s Greatest Workplaces 2023. “This award not only acknowledges our efforts in fostering a positive and enriching work environment but also highlights the commitment and dedication of every member of our […] [Read More]

Dealers evidently didn’t rest much during the last unofficial weekend of summer since Black Book noticed the estimated average weekly sales rate at auction increased to 49%. Despite more vehicles heading for haulers and store lots, Black Book reported that wholesale prices declined another 1.40% during the week that closed on the Saturday of Labor […] [Read More]

Carvana’s campaign to codify digital auto sales and other automotive transactions into state law has recorded another win. The online used car retailer announced Oregon Gov. Tina Kotek has signed legislation that directs the Oregon Department of Transportation to adopt rules permitting vehicle dealers and financial institutions to electronically transmit documents related to vehicle ownership, […] [Read More]

With macroeconomic pressures like high interest rates and increased cost of livin, Transunion Canada is tracking the auto industry’s lending performance. Year-over-year, originations are up by just under 2%, a rise mostly driven by more used inventory coming back online. “People weren't able to ... [Read More]

E Automotive Inc. — parent company of EBlock and EDealer — has a new chief financial officer. John Rim has 25 years of experience in the industry, with the last 12 years spent working as a CFO or chief operating officer for publicly listed companies across the TSX, TSX-V and NASDAQ exchanges. “John brings a […] [Read More]

Coming off the first quarter of its 2024 fiscal year that included sales gains and “normalization” of charge-offs, America’s Car-Mart also announced on Tuesday that its board of directors has elected current president Doug Campbell to succeed Jeff Williams as CEO and to serve as a director of the company. According to a news release, […] [Read More]