Within days of announcing its revamped board of directors, Origence bolstered its relationship with Zest AI to launch a tool tailored for credit unions to book quality paper at lower credit tiers. Zest Auto is an automated underwriting model powered by artificial intelligence for credit unions available exclusively through Origence. According to a news release, […] [Read More]

UVeye, which develops automated vehicle-inspection systems, said Tuesday it has landed a $100 million Series D funding round led by Hanaco VC. The round also included participation from existing investors GM Ventures, CarMax, W.R. Berkley Corporation, F.I.T. Ventures L.P. and Israeli institutional investors. UVeye plans to use the Series D funding to build inspection systems […] [Read More]

Rebranding in the wholesale world continued Tuesday. Ritchie Bros. Auctioneers announced that with the successful closing of the IAA acquisition, the company is changing its corporate name to RB Global. The company said in a news release that its common shares will continue to be listed for trading on the New York Stock Exchange and […] [Read More]

We start this auction news roundup with annual awards from  Santander Consumer USA and Chrysler Capital, who recognized their top auctions recently. The honorees were: Santander 2022 National Auction of the Year – Manheim North Carolina 2022 Retail Auction of the Year (Central Region)  – Manheim Dallas 2022 Retail Auction of the Year (Midwest Region) […] [Read More]

Eric Keith Wilson is bringing more than three decades of automotive industry experience that includes general manager and director positions with large and smaller dealer groups to SOCIALDEALER. The social media agency chose Wilson as its national sales director so he can oversee all national sales efforts, including OEM relationships, dealers and potential strategic partners. […] [Read More]

If you have interested vehicle purchasers who can get financed, perhaps your store inventory acquisition costs and potential gross profit might be improving. Black Book said on Tuesday that the arrival of May seems to have brought a potential “tipping point” since overall wholesale prices declined for the first time since early February. According to […] [Read More]

The past couple of months have been exciting ones for STELLA Automotive AI. In April, the provider of high-end conversational artificial intelligence technology was among the Emerging 8 honorees highlighted at the Auto Intel Summit. Then on Tuesday, STELLA Automotive AI announced that it closed its seed round of financing. The company secured convertible promissory […] [Read More]

Group 1 Automotive has expanded in its home state. The retailer said Monday it has acquired three Beck & Masten Buick-GMC dealerships in Texas, two of which are in the Houston market and one of which is in the Corpus Christi area. Group 1 anticipates the three stores will generate annual revenues of $760 million. […] [Read More]

Toronto-based TRADE X, a B2B cross-border vehicle marketplace for trading vehicles globally, said Tuesday it has integrated PAVE’s vehicle inspection API into its platform. Through this integration, sellers on the TRADE X platform can easily capture inspection information and provide greater transparency on vehicles. Meanwhile, it gives dealers the ability to inspect prior vehicles prior […] [Read More]

Ignite Consulting Partners recently reinforced its roster of compliance experts. The firm also relayed a tip of the week in connection with an enforcement action by the Consumer Financial Protection Bureau totaling more than $24 million to remedy alleged misdeeds associated with debt collections and credit reporting. In March, the bureau took action against Portfolio […] [Read More]