Impel, a provider of digital automotive engagement software and data for dealers, auto marketplaces and OEMs, announced a $104 million growth investment led by Silversmith Capital. Wavecrest Growth Partners, an existing investor in Impel, also participated. Impel plans to use the funding for product expansion and M&A moves. Its technology uses artificial intelligence to help […] [Read More]

Along with a new company branding, Portfolio announced the promotion of Cliff Childers to the position of managing director, effective immediately. The company highlighted the 21-year industry veteran leads a national sales team driving reinsurance and F&I success for auto, RV and powersports dealers with a focus on innovation, sales and results. “Anyone who has […] [Read More]

According to a news release distributed this week, Scott Zucco joined F&I Sentinel as vice president of sales, in a move effective Jan. 3. The automotive compliance and regulatory risk mitigation solutions provider highlighted Zucco is “an accomplished sales professional with unparalleled business acumen” gained over his 30-plus years of experience in business development and […] [Read More]

The American Recovery Association (ARA) recently released a policy statement associated with the revamped Safeguards Rule set to be implemented by the Federal Trade Commission in June. In connection with the mandate, ARA specifically believes recovery professionals should engage in the following best practices: ● Immediately after recovery, cut new keys to the vehicle ● […] [Read More]

AutoFi announced on Wednesday that it has extended its partnership with Santander Consumer USA, bringing to market digital products that are geared to “meaningfully improve” the ability for consumers and dealers to interact with the finance company and simplify the vehicle buying experience.  The Emerging 8 honoree and SCUSA first formed their partnership last year. […] [Read More]

In an effort to handle “explosive growth,” TurboPass announced the hiring of Zahid Kassem as chief product/technology officer on Tuesday TurboPass, an Emerging 8 honoree that offers an electronic multi-verification solution for credit, fraud and compliance, has increased its user base to 3,000 dealerships with plans to expand to more than 7,000 users by the […] [Read More]

Electric vehicle sales are the talk of the town — or at least the auto industry at large and even in the auction lane. Overall new- and used-vehicle sales fell as 2022 ended, but EVs followed a different path. During a recent call with the auto industry and media, Cox Automotive cited data from its […] [Read More]

Less than two weeks after announcing a merger with Auction Direct Transport, Montway Auto Transport made another move in the wholesale auto sector on Tuesday. The third-party logistics company announced a partnership with digital remarketing technology provider Auction Edge, through which more than 55,000 dealers and more than 175 auctions can order transportation services from […] [Read More]

While Black Book shared its usual wholesale price trends, perhaps what intrigued analysts most during the second week of 2023 was the quick impact Tesla’s price decision involving new models left on the OEM’s used electric vehicles. Black Book said in the newest installment of Market Insights released on Tuesday that “the big news will […] [Read More]

Group 1 Automotive said Tuesday it has hired a chief legal officer as well as a chief marketing officer. Joining the company as CLO and senior vice president is Gillian Hobson, who comes over from Vinson & Elkins in Houston. She was part of the firm’s management committee and was Group 1’s primary relationship attorney. […] [Read More]