CUNA Mutual Group ventured deeper into the automotive and fintech worlds this week by acquiring one of this year’s Emerging 8 honorees. The mutual insurance holding company acquired ForeverCar, the Chicago-based start-up company that protects vehicle owners from expensive repairs with mechanical repair coverage (MRC) policies delivered through online channels. CUNA Mutual Group’s move involving […] [Read More]

Market Scan welcomed a pair of former Cox Automotive executives this week that the Sofware-as-a-Service solutions and data provider said will help to realize its enterprise solutions’ growth strategies. Coming aboard are Damon Bennett as vice president of business development and Deanna (DeeDee) VanderYacht as director of business development. “Damon and DeeDee are two great […] [Read More]

The Federal Trade Commission announced this week that the regulator began to send refunds totaling nearly $1.5 million to individuals who were affected by allegedly unlawful financing and sales practices by Bronx Honda. The actions stem from a settlement reached in May. According to the FTC, Bronx Honda and its general manager told sales employees […] [Read More]

KAR Global said Thursday it has completed its purchase of BacklotCars, a $425 million deal first announced in September. In a news release, KAR said the acquisition “supplements” its existing crop of digital marketplaces like TradeRev, ADESA.com and OPENLANE, while also growing KAR’s presence in key markets and “anchoring continued expansion into new geographies to […] [Read More]

In this episode of the Auto Remarketing Podcast, we catch up with Alejandro Cabrera and Mauricio Cuevas, co-founders of Uproar.car, a tech startup aiming to disintermediate the auto warranty market through online subscriptions. The business partners, who met while working at Microsoft, explain how the service works, the growth of digital solutions in the ancillary […] [Read More]

After being with the finance company for the past seven years, Marc Womack now is president and chief executive officer of TD Auto Finance. According to a news release from TD Bank distributed on Thursday, Womack will oversee the expansion of TD Auto Finance in the U.S. market and drive integration between TD Auto Finance […] [Read More]

Another executive from the National Independent Automobile Dealers Association has taken a role with a service provider for buy-here, pay-here operators. Buckeye Dealership Consulting, which offers re-insurable products and other solutions for dealerships, announced this week that Shaun Petersen has been named the company’s executive vice president and chief legal officer in a move that […] [Read More]

PassTime is leveraging the capability of connected vehicles in an effort to serve its clients better. This week, the provider of vehicle GPS solutions launched its OASIS v2 IoT platform, which utilizes telematics data from millions of connected vehicles to give its customers the visibility they need to make better, safer and smarter business decisions. […] [Read More]

Perhaps it’s a question you asked a dealership manager or store colleague this summer when used-vehicle values were as hot as the outside temperature. “Can you believe what we had to give on that trade?” Well, in what might be good news for dealers’ used departments, trade-in values are returning to normal levels after skyrocketing […] [Read More]

With a background in the banking, financial services, investment and medical industries, CDK Global welcomed its new chief information officer on Thursday. Taking on the role of CIO for the automotive retail technology company is Kirsten Garen who also will also be a member of CDK’s executive leadership team. In her role, the company said […] [Read More]