Pohanka Automotive Group recently invested in Orbee, a leading provider of marketing technologies. According to a news release, Pohanka’s investment into Orbee revolves around the common goal of driving innovation across the automotive software ecosystem. The dealer group’s strategy of connecting legacy systems with new capabilities such as Orbee’s Customer Data Platform (CDP) and Marketing […] [Read More]

LoanPro, a modern servicing core platform, recently announced a partnership with MX, an open finance leader, to deliver enriched financial data using MX’s Data Engine into LoanPro’s management platform. By leveraging MX to cleanse, categorize and classify financial data, LoanPro said it can enable financial institutions, fintechs and B2B/B2C lenders to unlock new data-driven insights. […] [Read More]

Two prominent technology service providers for dealerships and finance companies now are working together to smooth the titling process. Cox Automotive announced on Monday a new integration that geared to drive dealer value by connecting Dealertrack’s Registration and Title Solutions to Reynolds and Reynolds ERA Dealer Management System. The companies said this integration can give […] [Read More]

For this dealership M&A roundup, we go to Southern California. Group 1 announced Thursday that it has purchased Mercedes-Benz of Anaheim, which bumps the retailer’s Mercedes store count to 17 throughout the U.S. and U.K. Group 1’s purchases this year represent acquired annual revenues of $940 million. Last year, the retailer had acquired revenues of […] [Read More]

That consumer who has put off buying a used car until prices ease may now be more eager to make a purchase. New-car incentives are at their lowest levels in 12 years, according to TrueCar, which predicts December incentives will average just over $1,000. That’s down from $2,000 in 2021 and $4,000 just three years […] [Read More]

The Federal Trade Commission (FTC) seems to be in full assault mode when it comes to regulating auto dealers. It is doing so by proposing new rules and by entering consent decrees with allegedly offending dealers.  And 2022 has been a banner year for both. In March, the FTC entered into a consent decree with […] [Read More]

This week, Navy Federal Credit Union announced the winners of its first Operation Joyride Sweepstakes, which allowed eligible auto finance contract holders to submit an entry for their chance to win a grand prize of $30,000 toward their Navy Federal retail installment contract. Members also had the chance to win a first-place prize of $15,000 […] [Read More]

CarMax said on Thursday that it has reached a settlement with the attorneys general of 36 states to resolve a 2014 inquiry surrounding its advertising and sales practices related to vehicle recalls. According to a news release from New York attorney general Letitia James, the multistate coalition secured $1 million from CarMax for failing to […] [Read More]

Brad Burns, associate vice president of vehicle information for Manheim at Cox Automotive, and Fyusion chief product officer and co-founder Stephen Miller joined the Auto Remarketing Podcast from Used Car Week 2022 in San Diego last month. They talk about their presentation on "Demystifying AI for the Wholesale Industry," the uses of artificial intelligence in remarketing, […] [Read More]

Digital technology is revolutionizing the auction process, making it much more efficient and accurate, said participants on two panels during Used Car Week. The move to a fully digital auction process is inexorable, said Steve Kapusta, who is senior vice president of Ally Remarketing Services at Ally SmartAuction. “You can’t slow (it) down. It is seamless […] [Read More]