The Federal Trade Commission announced last week that it began sending payments to consumers impacted by dealerships operating in Arizona and New Mexico that the regulator shut down two years ago. The FTC said it is sending payments totaling more than $415,000 to 3,508 consumers who financed a car or truck at a Tate’s Auto […] [Read More]

Open Lending is stretching terms to help credit unions book more paper, especially with potential customers who land in the near or non-prime credit tiers. Last week, the lending enablement and risk analytics solutions provider announced it will offer its clients the ability to originate 84-month contracts for new models and used vehicles up to […] [Read More]

New research from Bain & Company showed that while high-growth technology companies have been hit the hardest by recent market shifts, 77% of companies are expected to either increase their technology budgets in 2023 or keep it the same. Bain’s third annual global Technology Report released on Monday also indicated that despite the current economic […] [Read More]

J&M Chevrolet, which is located in the Raleigh, N.C., area, has been sold to Dan Miller and Mark Zurales, according to a news release from Haig Partners, which served as the exclusive advisor on the sale. Carlos Wheeler, a second-generation dealer, is the dealer principal of the store. “We are blessed to have had the […] [Read More]

TrueCar positioned its latest research project to coincide with the opening of the 2022 North American International Auto Show in Detroit, as the Motor City has been charged up with electric vehicles and a visit from President Joe Biden, who quipped, “You know, you all know I’m a car guy. “I’m here because the auto […] [Read More]

AutoCanada, the only publicly traded dealer group based in Canada, first forayed into the U.S. in 2018, when it bought the Grossinger Auto Group in Illinois. This acquisition added eight dealerships to the group’s linkup in Metro Chicago, plus another six luxury brand dealerships in an auto mall in nearby Bloomington/Normal, Ill. Now, with a […] [Read More]

TurboPass announced the appointment of two new members to its board of directors this week. Now part of the leadership structure for the fintech firm that helps dealerships and finance companies during the underwriting process are Mark Vazquez, who is senior vice president of sales and marketing at Westlake Financial Services, and Tyler Lackey, who […] [Read More]

Launcher, a technology provider specializing in originations, recently enhanced its integrated access to CARFAX Vehicle History Reports inside its core product — appTRAKER Loan Origination System — so finance companies have “additional ammo in their artillery.” According to a news release, finance companies now have access to a robust suite of CARFAX data products for […] [Read More]

There’s a trend that may have started back before the pandemic, but is ramping up recently: Canadian dealers are increasingly looking south of the border, eyeing mergers, acquisitions and opportunities in the U.S. Auto Remarketing Canada spoke with a variety of different leading M&A experts across the U.S and Canada to learn more. There are […] [Read More]

SmartGroups is gaining momentum not just in assembling and moderating 20 groups of independent dealers. The company announced this week it has partnered with automotive retail technology company CDK Global to integrate its systems with LinUs, SmartGroups’ proprietary patent-pending benchmarking software. Through the partnership, SmartGroups said LinUs will be fully integrated with CDK’s dealer management […] [Read More]