It’s not quite RoboCop policing your flow of financing applications, but Point Predictive certainly is leveraging new technology to help finance companies from becoming fraud victims. The San Diego-based company that provides machine learning solutions and was one of the first Emerging 8 honorees has unveiled its Fraudbot technology to protect finance companies against systematic […] [Read More]

Spireon launched Kahu back in 2017 as a smart add-on designed to provide dealers streamlined inventory and lot management that also offers car buyers location tracking and stolen vehicle recovery service. On Tuesday, Spireon completed a technology platform update and rebranding of that franchised dealer solution from Kahu, to LoJack, which was the business the […] [Read More]

Car Capital continued to bolster its resources to establish itself as an up-and-coming auto-finance technology company that strives to get any deal bought no matter the consumer credit background. After finalizing a funding round in March and a line of credit in April, as well as gaining two veteran advisors in May, on Tuesday the […] [Read More]

The U.S. Senate confirmed President Joe Biden’s choice to be chair of the Federal Trade Commission on Tuesday. And Hudson Cook partner Lucy Morris explained how the appointment might influence auto financing as well as how the development correlates back to the Consumer Financial Protection Bureau. Lina Kahn was sworn in on Tuesday as FTC […] [Read More]

As a dealer, you want payment for services rendered, correct? To help make sure that happens in the smoothest possible way for your customers and employees, CDK Global launched CDK OnePay, a dealership-wide payment solution fueled by Global Payments. The companies highlighted that CDK OnePay is designed to help dealers create a frictionless customer experience […] [Read More]

Black Book’s latest installment of Market Insights showed how dealerships now are paying nearly $27,000 for a piece of inventory that cost just $20,000 at the beginning of the year. And there’s little evidence to refute the notion that the same unit might approach $30,000 soon stemming from the current pace of wholesale price increases. [Read More]

Lithia Motors & Driveway continues to add to its store count, announcing the purchase of Southwest Kia Auto Group on Tuesday. The Texas group has five stores throughout the Dallas and Austin markets. Lithia expects the addition will bring in annualized revenues of $350 million. Since announcing a five-year plan in 2020, Lithia is now […] [Read More]

May was another strong month for used-car sales, as the industry continues to rebound. In fact, Cox Automotive indicated in a recent Data Point report that the SAAR was 41.0 million last month, up from 39.9 million a year ago and steady with April figures.    But how have overall used-car sales fared so far […] [Read More]

With longtime Cox Automotive executive Janet Barnard retiring at the end of the month, the company announced on Tuesday who its new chief people officer is. Cox Automotive said through a news release that Michele Parks is taking on this position, leading a team responsible for recruiting, developing and managing talent for more than 25 […] [Read More]

A little inside baseball for a moment, if you don’t mind. At Cherokee Media Group, we’ve got two reports coming up that essentially serve as mid-year retrospectives, albeit in two different forms. One is the July issue of Auto Remarketing, which will provide a “Mid-Year Report” on the retail, wholesale, finance, repossession/collections and buy-here, pay-here […] [Read More]