Cars.com announced on Thursday that it acquired one of the first Emerging 8 honorees spotlighted at the Automotive Intelligence Summit. According to a news release, Cars.com signed a definitive agreement to acquire CreditIQ, a fintech platform that provides instant online auto finance screening and approvals to facilitate online vehicle buying. Executives said consideration for the […] [Read More]

Kroll Bond Rating Agency (KBRA) weighed in on another element to the completion of Stellantis’ acquisition of First Investors Financial Services Group that created a new captive finance company for the automaker. While First Investors has been renamed Stellantis Financial Services US Corp., the company that specialized in subprime auto financing still has previously deployed […] [Read More]

LotLinx named a chief operating officer on Wednesday, hiring longtime tech and digital media executive Adrian D’Souza for the position. D’Souza’s background includes time in leadership positions with Quantcast, Google, CNET Networks, Intersection and IAS. "Adrian understands go-to-market strategies and customer satisfaction in a way that few executives can hope to, and he has unparalleled […] [Read More]

In this episode of the Auto Remarketing Podcast, we continue our discussions on the growing online market for vehicle auctions. Joyride Autos chief executive officer John Wicker and chief product and technology officer John Krupnik join the show to talk about the origins of their company, which provides an online auction platform and marketplace for […] [Read More]

Investment money is working its way into the automotive space, and not just through acquisitions of auctions and dealerships or software building. On Tuesday, Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, announced the facilitation of a “significant equity investment” by KT Capital Partners into Dealer Solutions & Design, which plans […] [Read More]

It probably should not be a surprise that the Black Book Used Vehicle Retention Index for October hit a new record since analysts said earlier this week that wholesale prices have risen for nine weeks in a row. [Read More]

Origence — a CU Direct brand that provides technology to enhances the origination experience to increase volume, create efficiencies and grow accounts — is reporting continued growth and market strength of credit unions using its CUDL auto lending network to originate indirect financing. According to a news release, credit unions through the third quarter of […] [Read More]

Lightico recently reinforced its global executive team by welcoming Moti Gabay as its vice president of global partnerships and alliances and head of its London office. The personnel move comes on the heels of significant growth at the digital completion company supported by a $27 million Series B funding round completed this year. “As Lightico […] [Read More]

One of the Silver Sponsors of Used Car Week isn’t just spending its financial resources to help bring together the industry for the leading event that begins on Nov. 15 at the Red Rock Resort in Las Vegas. On Tuesday, global data analytics provider Verisk announced that it acquired Data Driven Safety, a leading public […] [Read More]

Finance company executives and managers know the impact from rising vehicle prices has to come to roost somewhere. TransUnion’s Q3 2021 Quarterly Credit Industry Insights Report (CIIR) offered some interesting data to illustrate the point. The average amount financed per contract originated during the third quarter as well as the average balance still held by […] [Read More]