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]

The award-winning TV sitcom "Schitt’s Creek" stems from the financial downfall of a husband and wife who live in a motel with their adult children. Capital One is leveraging the family celebrity duo in the first national advertising campaign for Capital One Auto Navigator in hopes consumers have a much more pleasing result when financing […] [Read More]

Nicholas Financial made quite a year-over-year rebound when detailing its 2021 fiscal year results last week, including vital metrics like net income and delinquency rates. Despite a dip in total revenue, the subprime auto finance company reported that its net income for the fiscal year that ended March 31 jumped to $8.4 million compared to […] [Read More]

Consignment-to-retail used vehicle marketplace CarLotz has opened a new hub in Charlottesville, Va.. The new location will be at 1389 Richmond Road, and marks the fourth hub in the state and 12th nationwide.  Ned Gallaway, who previously served as the former manager of CarLotz’s Midlothian, Va., hub, will lead the new Charlottesville store.  “We couldn’t be […] [Read More]