The National Independent Automobile Dealers offered updates this week on a pair of fronts — its certified master dealer program as well as federal actions involving noncompete stipulations. In the program’s near 30 years, the association said 270 auto dealers earned the distinction of being a NIADA Certified Master Dealer. These standout dealers earned the […] [Read More]

EBlock CEO Jason McClenahan joined the show from NADA Show 2023 in Dallas in late January for a discussion about how the digital wholesale platform connects land and technology, how EBlock is investing in both, plus wholesale market trends and much more. Stay tuned for more podcasts from NADA Show 2023 in coming weeks. To […] [Read More]

A Teletrac Navman survey of more than 1,800 global fleet operators revealed the top three challenges they currently face. Topping the list of concerns for these automotive professionals are rising fuel costs (39%), disruption due to the impact of COVID-19 (32%) and supply chain pressure (31%). “The last 12 months have created new complexities for […] [Read More]

Sonic Automotive and Group 1 Automotive each made executive moves to reinforce their human resources and other company infrastructure. Beginning with Sonic, the company announced the promotion of Angela Broadway to chief human resources officer (CHRO) in a move that was effective Feb. 8. “Angela has made an amazing impact on our company with her […] [Read More]

Late on Tuesday, Cox Automotive announced the acquisition of FleetNet America in an effort “to keep the world’s fleets moving efficiently, safely and sustainability.” With the acquisition, company executives said Cox Automotive Mobility and FleetNet are creating the foundation that will transform operating a fleet, where every vehicle, and every service is connected. “The market […] [Read More]

Lendbuzz announced on Tuesday that it has closed a $187.95 million securitization collateralized by a pool of retail automobile contracts made to obligors and secured by new and used automobiles, light duty trucks, and vans. This transaction, Lendbuzz’s first securitization of 2023, and third since launching the program, follows a period of record-breaking success for […] [Read More]

This week, Origence, a technology solutions provider for credit unions, announced a partnership with Tekion, a next-generation, cloud-based automotive retail solutions provider. The partnership integrates CUDL with Tekion technology and positions both organizations to streamline the automotive online shopping and financing experience while providing credit unions with new indirect financing opportunities. “The car buying experience […] [Read More]

The Federal Trade Commission recently sued to stop an “interconnected web” of operations responsible for delivering tens of millions of unwanted Voice Over Internet Protocol (VoIP) and ringless voicemail (RVM) phony debt service robocalls to consumers nationwide. The Department of Justice (DOJ) filed the complaint in federal court on the FTC’s behalf. According to a […] [Read More]

Oftentimes, compensation doesn’t arrive unless sales objectives are met or exceeded. EFG Companies is changing that situation. On Tuesday, EFG Companies announced the launch of F&I Profit Guarantee in which EFG compensates new clients if revenue goals are not met within a stipulated timeframe. According to a new release, the program is built upon the […] [Read More]

AutoAlert and 700Credit announced an expanded integration alliance on Tuesday. With this new alliance, AutoAlert has incorporated 700Credit’s credit reports, compliance, and prescreen platforms into its CRM platform, AutoAlert CXM, to provide a “seamless” dealer experience. AutoAlert CXM is an automotive CRM platform that leverages data and artificial intelligence-driven sales and service follow-up to deliver […] [Read More]