Automotive Ventures supports automotive technology entrepreneurs, businesses and investors with industry-specific resources, strategic consulting and extensive connections. And now the firm has more financial resources to complete those tasks and more. On Tuesday, Automotive Ventures chief executive officer and founder Steve Greenfield announced the final closing of the firm’s inaugural venture fund, Automotive Ventures Fund […] [Read More]

Spring has brought a blooming certified pre-owned vehicle market in Canada. As the CPO market continues to bounce back, automakers were seeing a lot of good signs last month.  Here's how some of the CPO programs are faring, based on sales reported to Auto Remarketing Canada.  In May, Subaru Canada nearly doubled its CPO sales […] [Read More]

Spireon, a provider of risk mitigation services and other technologies to subprime auto finance companies and buy-here, pay-here dealers, announced the promotion of one of its executives to be chief technology officer. Previously Spireon’s senior vice president of engineering, the company said through a news release distributed on Tuesday that Prem Hareesh now is CTO. […] [Read More]

For independent dealers with cash flexibility, AFC is rolling out a program to leverage that liquidity when securing inventory during these unprecedented times in the wholesale market. On Tuesday, the business unit of KAR Global announced that it now offers cash buyers what AFC believes is a convenient, flexible and simple floorplan solution through its […] [Read More]

May was the fourth straight record month for the Manheim Used Vehicle Value Index, which hit the 200 mark for the first time ever, spokespeople with parent company Cox Automotive confirmed. The index reading for May was 203.0, which beat year-ago figures by 48.2%. [Read More]

Digital Dealership System, or DDS, a dealer screen marketing company, is the newest MarketCenter supplier for Chrysler, Dodge, Jeep, Ram and Fiat dealerships. The company has a dealer list of over 1,000 installations complete throughout the U.S. What’s been most popular among its offerings is the company’s messaging on digital signage and kiosks, which works to […] [Read More]

Carsharing marketplace for ridesharing and food/package delivery services, HyreCar Inc. is joining the Russell 3000 Index, effective when the the U.S. market opens on June 28, according to a preliminary list of additions posted Friday. “We have worked hard to get to this point, taking the company from concept to now joining the Russell 3000, […] [Read More]

In a little less than a month from first making the decision known publicly, Solera Holdings announced on Monday that it has completed its acquisitions of Omnitracs, DealerSocket and eDriving. Omnitracs is a leading fleet management platform, while DealerSocket is a SaaS provider to the automotive industry and eDriving is the digital driver risk management […] [Read More]

Previous Emerging 8 honoree MotoRefi continues to collect investor funding to accelerate growth and achieve other major milestones. The auto fintech startup recently announced a $45 million Series B funding round led by Goldman Sachs Asset Management’s Growth Equity team. MotoRefi works directly with credit unions and other finance companies to enable consumers to quickly […] [Read More]

Autotrader acknowledged buyers are facing tough times right now, with a difficult market plagued by low supply from vehicle inventory shortages and the resulting high demand driving prices upward. “A worldwide microchip shortage has severely limited new-car production and dealers have fewer used vehicles on their lots, so now more than ever car shoppers need […] [Read More]