Automakers are trimming car models from their new-vehicle lineups, and this has led to fewer and fewer affordable alternatives in a market where transaction prices reached record levels last month. That, says Edmunds, “will create a barrier to entry for many consumers and force them into the used-car market.” Perhaps to the tune of close […] [Read More]

Portfolio chief sales officer Dan Haugen has retired in a move effective Dec. 31. And the F&I solutions provider didn’t have to look far for a replacement, turning to David Neuenschwander, president of National Automotive Experts and NWAN, the Strongsville, Ohio-based company acquired by Portfolio last year. “Dan Haugen has filled numerous leadership roles during […] [Read More]

CarGurus has a new chief executive officer Founder Langley Steinert is transitioning out of the role and will become the executive chairman. Named to the CEO post is Jason Trevisan, who was chief financial officer of CarGurus and its president of international. He joined the company as its CFO in 2015. Steinert, who founded the company […] [Read More]

Stellantis appointed its top executive team, in addition to nine dedicated committees covering companywide performance and strategy. Stellantis chief executive officer Carlos Tavares said the team was highly competitive, committed and well balanced and will use its combined skills and diverse backgrounds to guide Stellantis. The committees are strategy council, business review, global program committee, […] [Read More]

Karl Brauer describes Toyota Prius owners as eco-minded consumers who want to hold on to their vehicles as long as they can. Owners of Priuses who have kept their vehicles on the road for at least 15 years are early adopters of hybrid vehicle technology, said Brauer, who is executive analyst for iSeeCars.com. “Priuses also […] [Read More]

A day after the director of the Consumer Financial Protection Bureau resigned, the chairman of the Federal Trade Commission made the same decision. FTC chairman Joseph Simons announced his resignation from the agency on Thursday. While the decision to leave the CFPB by Kathy Kraninger was immediate, a news release from the FTC indicated that […] [Read More]

Jantoon Reigersman has been appointed chief financial officer for TrueCar, with the company’s president and chief executive officer Mike Darrow saying Reigersman will help align the company’s business and financial strategies toward TrueCar's next chapter of growth and profitability. Reigersman said he looked forward to joining TrueCar during what he described as a pivotal time […] [Read More]

Autozen, a consumer-to-business marketplace that aims to give consumers “an easier, safer and more transparent way” to sell their vehicles, said Tuesday it has generated $4.2 million in an initial funding round. The company, which is in the final stages of preparing to launch, is led by Olivier Vincent, whose background includes 20 years as […] [Read More]

AutoVerify announced a second Dealer Support Program on Wednesday that will waive monthly software fees through July 31 for new customers of the AutoVerify Suite. The AutoVerify Suite now has e-commerce capabilities, the company said. With that expansion, the digital retailing suite now features merchandising, research and ecommerce. Explaining the waived fees in more detail, […] [Read More]

After one of the strangest years ever, how have you prepared for 2021? Election years are usually off the wall, but 2020 was ridiculous. Uncertainties that linger affect how a dealer plans for and navigates through 2021. To write off 2020 as an odd year that can’t be analyzed and decide to “just go with […] [Read More]