Axis Auto Finance said Tuesday it has landed a $15 million strategic investment from NowLake Technology, which is projected to own roughly 23% of the issued and outstanding common shares in the fintech lender specializing in the alternative auto finance space once the deal is complete. In a private placement, NowLake is buying 30 million […] [Read More]

TradeRev, which is KAR Global’s dealer-to-dealer online wholesale platform for the Canadian market, has launched a Retail Vehicle Details Page that it says can help dealers figure out consumer interest in a vehicle before they buy it wholesale. Through this feature, dealers can share a customized condition report on a specific vehicle in the TradeRev […] [Read More]

The Automotive Anti-Counterfeiting Council (A2C2) — which includes 11 automakers and their brands — is asking eBay to halt the sale of all supplemental restraint system (SRS) airbags and components on eBay.com, calling it the only effective way of preventing the sale of dangerous counterfeit airbags on the site. According to testing conducted by the […] [Read More]

The National Independent Automobile Dealers Association (NIADA) offered a rebuttal when an ESPN personality chose a negative dealer stereotype to describe one of his former NFL coaches who resigned amid a scandal involving derogatory comments made about league officials and other executives connected with professional football. It all started a little less than a week […] [Read More]

Kroll Bond Rating Agency (KBRA) is seeing the likelihood strengthen that seasonal payment patterns are coming; that some of your contract holders might purchase holiday gifts rather than maintain their monthly vehicle payment. Analysts delved into the topic when they shared KBRA’s September index readings based on securitizations in both prime and non-prime. [Read More]

KAR Global said Monday that Black Book’s VIN decoding and pricing algorithms have been integrated with KAR’s digital offerings. This means that automakers, dealers and others in the auto industry will be able to provide consumers with instant, VIN-specific guaranteed trade-in values on their respective websites or mobile apps. The expanded relationship between KAR and Black […] [Read More]

Roughly a month after debuting its first AutoNation USA store in Denver, AutoNation said Monday it has opened a second used-car store in the city: AutoNation USA Denver Broadway. This location is the third of five AutoNation USA stores the retailer plans to debut in 2021.   AutoNation USA Denver 104 was announced on Sept. […] [Read More]

E Automotive Inc., which is the company behind the EBlock digital wholesale marketplace and the EDealer digital retail products, has filed and obtained a receipt for a preliminary base PREP prospectus for a proposed initial public offering in Canada. The preliminary prospectus for the proposed IPO of common shares was filed with the respective securities […] [Read More]

Now being led by an interim chief executive officer, Hertz is setting its sights on being in a better position for shareholders. Hertz announced on Monday that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed public offering of its common stock. Hertz’s […] [Read More]

AutoMiner and Covideo now are working together, so dealers can leverage the capability of video to boost activities in both sales and service. Last week, the automotive data mining platform released an integrated video messaging tool using Covideo’s proprietary technology, allowing its users to record, send and track videos through the platform. The companies indicated […] [Read More]