With $5 billion in electric vehicle charging network funds (and more to come) available under the Bipartisan Infrastructure Law, states are lining up for their share of federal largesse. However, outside of the large coastal cities, retail registrations of EVs have yet to take hold, according to new analysis from S&P Global Mobility. The top-eight […] [Read More]

Ritchie Bros. Auctioneers has agreed to purchase IAA for $7.3 billion in stock and cash, the companies announced Monday. The price includes the assumption of $1.0 billion of net debt. The deal is expected to close in the first half of 2023. Ritchie Bros. is a global asset management and disposition company, providing avenues for […] [Read More]

AutoLeadStar, a digital customer data and experience platform, has landed a $40 million round of funding led by Riverwood Capital and with existing investors participating, as well. The company provides artificial intelligence-powered marketing automation technology to dealerships and OEMs. Nearly 1,000 dealerships in the U.S. and Canada use AutoLeadStar’s software. “The customer car purchasing experience […] [Read More]

Repairify said Wednesday it has launched and subsequently operated a two-sided sublet repair marketplace — Repair OnDemand — that is designed to connect sublet repair professionals with fleet owners, auctions, dealerships and independent repair facilities. There are more than 16,000 sublet auto repair professionals available through the platform, which has seen its network grow. “Our […] [Read More]

Chase Auto announced the 2022 winners of the Chase Cup for Auction Excellence on Thursday, spotlighting its auction partners with top performances in handling handled preparation, sales, invoice processing, transport requests, title processing and other tasks. The award for Best National Auction Performance went to Columbus Fair Auto Auction, while Manheim Fredericksburg earned honors in […] [Read More]

Sales might be softening for a myriad of reasons, but dealerships appear to be making it an easier path to successful delivery. October survey results of the Vehicle Ease of Purchase Scorecard from CDK Global showed that 84% of those polled found the vehicle-buying journey to be easier. The reading represented … [Read More]

Urban Science rolled out a new tool this week that is designed to answer one of the most intriguing questions during your regular sales meetings. The company launched SalesAlert, what Urban Science called an “industry first” solution that can notify dealers when a sales lead has purchased a vehicle from another dealership. Urban Science explained […] [Read More]

Perhaps law enforcement is making some headway since recent analysis from the National Insurance Crime Bureau (NICB) showed catalytic converter thefts in many U.S. cities are approaching levels not seen in 14 years. The Justice Department said this week that federal, state, and local law enforcement partners from across the United States executed a nationwide, […] [Read More]

The Justice Department described another notable fraud incident this week that could have permeated through the wholesale, retail and finance spaces. A federal grand jury in Chicago returned an indictment, which was unsealed on Wednesday, charging three Illinois men with operating an odometer and title fraud scheme that involved hundreds of used vehicles over the […] [Read More]

Black Book is expecting wholesale movement for the remainder of the year to resemble what analysts observed in October, which produced a 1.2% decrease in the firm’s Used Vehicle Retention Index. Now on a downward streak of four months in a row, the index dipped another 2.2 points from September’s reading to 174.3, which left it […] [Read More]