The Association of Finance & Insurance Professionals (AFIP) recently gave out the Jakob Murray Lange Memorial Scholarship that recognizes a Northwood University student for exemplary work during an internship the previous summer. Receiving the financial award along with a marble obelisk in recognition of her achievement was Chelsea Mallams, a Northwood University senior majoring in […] [Read More]

Much effort is put into the analysis of finance-company performance when handling business from the consumer side. J.D. Power decided to examine how finance companies are faring with another vital customer segment — dealerships. The firm on Thursday revealed its first U.S. Automotive Commercial Lending Satisfaction Study that pointed out most dealers rely on commercial providers […] [Read More]

On Monday, CDK Global announced it has completed the previously announced $1.45 billion sale of the CDK International business to Francisco Partners (FP), a leading global investment firm that specializes in partnering with technology businesses. “We are very pleased that the transaction closed on schedule and appreciate all the efforts made by both companies to […] [Read More]

RideKleen, a mobile vehicle care provider that’s part of the Cox Automotive Mobility Group, is expanding its partnership with Uber. The two companies had piloted a vehicle sanitation and maintenance program for five months in Atlanta and Phoenix, and will now bring it to 12 new markets in the coming months, Cox Automotive said Monday. […] [Read More]

ACV Auctions has filed the paperwork for an initial public offering.    A Form S-1 was filed with the Securities and Exchange Commission on Friday for an initial IPO of ACV’s Class A common stock.    In the form, which was published at 4:32 pm (ET), the Proposed Maximum Aggregate Offering Price was set at $100 […] [Read More]

Xcite Automotive, which performs digital merchandising for auto dealerships with tools such as automotive photography, 360 Spin video and lot tracking technology, is now included in the Jaguar Land Rover Certified program. Xcite vice president of strategic accounts Anne-Marie Cormier said because showroom visits are currently limited, vehicle visuals are crucial in the digital shopping […] [Read More]

Service providers of many stripes within digital vehicle retailing often remark about the “Carvana model” when touting their offering or discussing the general state of the industry. But how is Carvana really doing? Well, the company reported after the markets closed on Thursday that it finished 2020 with a 37% increase in retail units sold, […] [Read More]

ReviverMX, which sells digital license plates allowing motor vehicle administrations to digitize vehicle registration renewals and other transactions, is now supporting Arizona educational initiatives. Madison Education Foundation will offer Reviver’s Rplate digital license plate for sale to help support the All in for Arizona Schools initiative. According to ReviverMX, the plates will contribute to help […] [Read More]

CarMax is now offering consumers online vehicle appraisal offers through a new tool launched across the country this week. The online appraisal tool is designed to provide an offer on a customer’s car in less than two minutes, the company said. The offer is good for seven days and is subject to the vehicle’s mechanical […] [Read More]

Editor's Note: This is Part I of a three-part series on how the auto auction industy was impacted by and responded to the destructive winter storm that hit the central U.S. in mid-February. First up is a look at how ADESA's use of technology to facilitate remote sales allowed it to carry on without much […] [Read More]