Here’s another development involving EVs and shorter consumer obligations. Ferry, an electric vehicle subscription platform that allows consumers to obtain short-term leases on new EVs, announced this week it has partnered with Inspiration Fleet to make Tesla Model 3s and Model Ys available to customers in Austin, Texas. Ferry said it has also reached more […] [Read More]

CUDL is broadening the reach of its credit union financing network to go beyond vehicles. Integrated Dealer Systems (IDS), a leading RV, marine and trailer dealership management software provider, recently launched a new integration with CUDL. According to a news release, this integration will cut down the time it takes dealerships to process F&I requests, […] [Read More]

Bank of America is electrifying its presence in auto financing. This week, the bank finalized a strategic relationship to Lucid Group — which claims to have the longest-range, fastest-charging electric vehicle on the market — to form Lucid Financial Services, an all-new digital platform offering a flexible, fast and easy financing process, including lease and […] [Read More]

After three months of sequential declines, wholesale vehicle prices edged higher in May and remain well above year-ago levels. The Manheim Used Vehicle Value Index was at [Read More]

RunBuggy, a tech platform designed to connect car shippers and transporters, has secured $19 million in Series A financing from an investor group that includes the Larry H. Miller Company, Porsche Ventures and Hearst Ventures. The funds will be used for continued scaling of the technology and accelerating product adoption, the company said. “For the first […] [Read More]

Central Auto Auction now is being overseen by a new auction manager who has been in the industry longer than the operation itself. Announced earlier this month, the new auction manager at Central AA is Anthony Jasiak, who has more than 25 years of experience. Jasiak started his career as the AGM with ADESA New […] [Read More]

According to a report from S&P Global Mobility (previously the auto team at IHS Markit), the average age of light vehicles in operation has climbed for five consecutive years, reaching a record age of 12.2 years as of Jan. 1, 2022. So, perhaps it’s not surprising that the automotive aftermarket continues to demonstrate its market […] [Read More]

While the overall number of vehicles in operation with an open recall is down almost 6% from 2021, new CARFAX data shows more than 50 million vehicles on U.S. roads today are being driven with a known issue that should be repaired. According to a news release distributed on Tuesday, CARFAX data also indicated that […] [Read More]

The wholesale vehicle price situation in Canada appears to be nearing a peak, or at least a plateau, though values remain considerably higher than pre-pandemic levels and should stay that way for years to come. That's according to a report around Canadian Black Book’s Used Vehicle Retention Index for May, which was released Monday and […] [Read More]

The volume of dealerships changing hands has been growing for some time. Now in recent days, acquisitions involving products and software connected to financing and retailing are intensifying, too. On the heels of J.D. Power announcing a pair of acquisitions, TrueCar said on Monday that it has acquired Irvine, Calif.-based Digital Motors in a move intended to accelerate […] [Read More]