TRADER Corp. said Thursday it is acquiring Dealertrack Canada from Cox Automotive’s Canadian retail business, along with the Canadian operations of VinSolutions, Dealer.com, Xtime and Kelley Blue Book. The company said most Canadian Cox Automotive Retail employees will likely move to TRADER. “We’re delighted to welcome so many Canadian employees and customers to join us […] [Read More]

I can’t help but associate iconic “Anchorman” Ron Burgundy, played by Will Ferrell, with San Diego. He’s hilarious in the role, and he paints a picture of life here during a laid-back time. I also warmly associate this hotel and San Diego with the events we’ve hosted here through the years. We first found this […] [Read More]

There has been a surreal quality to the market developments that have unfolded in the automotive sector through a pandemic-defined economy that has disrupted production without diminishing demand. Nowhere has this manifested itself more dramatically than in the used-vehicle market. Success has been more closely tied to buying (putting cars on lots) than selling (guiding […] [Read More]

In separate letters sent to its investors and dealer clients on Wednesday, Car Capital said it is still in business, but it paused auto finance originations due to “difficult capital market conditions.” As a result, Car Capital also said it “executed a material reduction” in its workforce, particularly the employees who helped to build its […] [Read More]

Ravin AI, which provides artificial intelligence-powered visual inspection services, said Wednesday that Hertz is piloting the company’s AI technology in Sweden and Norway. The collaboration is designed to improve the “efficiency, objectivity and standardization” for Hertz’s inspections and improve the customer experience. “We’ve tested different technologies that focus on automation and vehicle inspection, and Ravin […] [Read More]

Most companies would bemoan a 67% drop in the number of vehicles sold online in the third quarter of 2022. Not so used car retailer Vroom. “We've made the choice to slow down. We slowed down with the intent to continue improving our customer experience. We plan to live within our means while we prioritize […] [Read More]

Slowing used vehicle sales, sliding profits and consumer affordability concerns are pushing Carvana to seek more ways to cut costs, said its top executive. That’s in addition to $90 million in expenses the online used-vehicle retailer slashed in the third quarter that ended Sept. 30, said CEO Ernie Garcia, during the company’s quarterly earnings call […] [Read More]

On Wednesday, Work Truck Solutions finalized its third industry relationship since the beginning of September. Coming after alignments with Manheim as well as FordDirect, the company specializing in commercial vehicles announced inventory listing partnership with Holman’s small business division, providing Holman’s customers greater access to locate and acquire commercial vehicles. When companies with shared goals […] [Read More]

To handle client demand and make room for personnel and resources, defi SOLUTIONS on Tuesday announced the expansion of the Amherst, N.Y. facility that houses the company’s newly renamed defi MANAGED SERVICING outsourced servicing operation. According to a news release, the addition of almost 4,000 square feet brings total space in the facility to 43,000 […] [Read More]

This week, LAUNCHER.SOLUTIONS and Creative Business Decisions (CBD) finalized their full integration to help mutual clients make better underwriting decisions by incorporating generic or custom-developed scorecards created by CBD within Launcher’s appTRAKER Loan Origination System (LOS). The company reiterated appTRAKER LOS was designed for finance companies needing a more efficient way to consume data while […] [Read More]