Factory shutdowns. Stay-at-home orders. A microchip shortage. Those are just a few of the events that occurred in what’s been nothing short of a challenging year and a half for the automotive industry, particularly in regard to new vehicle financing. Inventory shortages and the economic fallout during the early months of the pandemic drove new […] [Read More]

Prior to the COVID-19 pandemic’s effects on the automotive industry, electric vehicles (EV) were increasingly grabbing headlines even though the sales of these vehicles were miniscule compared with gas-powered cars and trucks. In fact, the combined annual sales of battery electric vehicles and plug-in hybrid electric vehicles tipped over the two-million-vehicle mark for the first […] [Read More]

With the pandemic intensifying again, prompting businesses to modify policies and strategies, 360Converge is looking to help the automotive industry. On Tuesday, the provider of workflow automation through text and email announced it is offering its platform for dealership staff and partners free of charge. Officials from 360Converge said the complimentary service is meant as […] [Read More]

Online car-buying start-up Gettacar announced a $25 million round of funding back in February. And last week, founder and chief executive officer Yossi Levi was named an Entrepreneur of the Year 2021 Greater Philadelphia Award winner by Ernst & Young, which orchestrates the program for entrepreneurs and leaders of high-growth companies. The award recognizes those […] [Read More]

When analysts touched on delinquencies as a part of Experian’s latest State of the Automotive Finance Market report, the declaration they made about that particular metric likely pleased finance companies greatly. However, for repossession agents and forwarding companies, the assertion might have reinforced their concerns about how soft their recovery activities are. Experian indicated that […] [Read More]

Black Book analysts elaborated about subcompact cars and full-size pickups as part of their latest installment of Market Insights released on Tuesday. The commentary came as Black Book is seeing the overall decrease in wholesale prices starting to decelerate, as values made a 0.36% decline during the week that ended Saturday. [Read More]

ServNet auctions now have the capability to scrub another part of vehicles that are coming down the lanes at their facilities. According to the group’s recent newsletter, ServNet recently formed a partnership with Privacy4Cars, which has a platform designed to erase nonpublic personal information (NPI) from vehicles. And auctions already using the technology praised its […] [Read More]

When another month starts next week, IAA will have a new executive vice president and chief financial officer. IAA announced on Tuesday that Susan Healy will join the company on Sept. 1 to serve in those roles. According to a news release, Healy will succeed Vance Johnston, who is leaving IAA to pursue other opportunities. […] [Read More]

The retail footprint of Lithia & Driveway just keeps growing. On Tuesday, the company announced the acquisition of Rock Honda, a Top 20 Honda New Volume Dealer in the U.S. The company highlighted the purchase of this high-performing Honda dealership in the Inland Empire continues its “fast-paced growth trajectory” and expands the reach of its […] [Read More]

Imagine that you have a potential buyer in your showroom quite eager to test drive a vehicle that’s been sitting in your inventory for too long. But then you can’t find the keys. KEYper Systems and TrueSpot now are working together to prevent that hypothetical scenario from happening. KEYper Systems, a leading provider of electronic […] [Read More]