In the auction lane, it has been a challenging year for car dealers, with high prices and low supply. In the service lane, it’s more of a mixed bag. A Cox Automotive analysis of data from its Xtime business unit released in late June shows that … [Read More]

Tenet recently made progress on multiple financial fronts. First, the company unveiled a new financial solution intended to lower the cost of ownership for electric vehicles “that rejects standard car depreciation models and values EVs as clean collateral.” Tenet also plans to expand into zero-emission home upgrades to help consumers better achieve their financial and […] [Read More]

One of the speakers at this year’s Auto Intel Summit recently received a promotion by his fintech employer. Lightico, a provider of digital customer interactions, promoted Yotam Haroosh to sales director of consumer lending as part of the company’s rapid growth in the financing space. Lightico highlighted the promotion follows more than five years at […] [Read More]

There now is another way to attach soft-pull credit capabilities onto your dealership website. Automotive digital marketing provider Sincro, an Ansira company, announced last week that it has designated CreditMiner as a preferred partner within its website platform. According to a news release, the preferred partnership with CreditMiner provides Sincro website customers with access to […] [Read More]

The pandemic and its subsequent aftermath gave Alex "SkipGuru" Price another opportunity to examine human behavior and its application toward skip-tracing and vehicle repossession. The director of training and development for LocateSmarter, a data and analytics company, also explained how new technology can be blended into the mix of collections and recoveries. To listen to the […] [Read More]

General Motors, though its venture capital arm, GM Ventures, has invested an undisclosed amount in UVeye, an advanced vehicle inspection systems developer. The companies also entered a commercial agreement to explore placing the inspection system in GM dealerships throughout various markets and a strategic collaboration agreement which calls for the two to work on several […] [Read More]

Wholesale prices softened by 0.15% during the week going into the Fourth of July weekend. However, why Black Book said it was “no surprise” values moved in that direction might not be fortuitous for either auctions or dealerships. Analysts continued in the newest installment of Market Insights by saying, “with the exception of … [Read More]

CARS Recon has a new president. In a move that was effective Friday, director of operations and client services Becky Anderson is now president and will lead day-to-day operations, strategy and planning. CARS Recon chief executive officer and board chairman Ron Hope (formerly the president) will remain in those positions but will not be directly […] [Read More]

Group 1 Automotive has exited Brazil. The dealer group said Tuesday it has closed on the disposition of its operations in the South American country, after nine years there. Group 1’s wholly owned subsidiary GPI SA, LLC closed the sale under the share purchase agreement with Original Holdings S.A. UAB Motors Participações Ltda., which is […] [Read More]

A new study from Rapid Recon-certified partner iPacket identified the three most convincing documents utilize when used-vehicle buyers are evaluating their purchase decision. The study results released on Tuesday pointed to authentic OEM MSRP data, new-vehicle brochures and reconditioning receipts For the study, Rapid Recon and iPacket explained that click activity and time spent were […] [Read More]