Making another marquee move to begin 2021, Cox Automotive has launched a new end-to-end digital retail experience today that it says can “bring every step of the car-buying journey and every part of the deal process together — start, flow, sign and close.” Complete Retail, which is the first Cox Automotive-branded end-to-end retail solution, implements […] [Read More]

The American Financial Services Association, in collaboration with the Illinois Financial Services Association, the Independent Finance Association of Illinois and the Illinois Automobile Dealers Association, sent a letter on Friday to Gov. J.B. Pritzker to state their “grave concerns” about a measure about to become law in Illinois that would create a rate cap on loans, […] [Read More]

Within a week, another Emerging 8 honoree received an injection of financial resources from the investment world. Soon after an announcement by Volta, fellow honoree MotoRefi — an auto refinancing startup on a mission to help people save on their retail installment contracts — announced a $10 million Series A1 funding round. MotoRefi said the […] [Read More]

CarLotz is now officially a publicly traded company. Its shares began trading Friday on the Nasdaq Global Market, following the completion of its merger Thursday with Acamar Partners Acquisition Corp., a special purpose acquisition corporation. The merger was first announced in October. The combined company’s ticker symbol is “LOTZ.” “Today marks another major milestone for […] [Read More]

Under a new partnership, on-demand car buying and leasing platform CarBlip is providing customer access to Wise F&I’s products: GAPWise, TIREWise and WiseTVP. CarBlip is currently available in the state of California, but the company says this year it will expand its operations nationwide. Brian Johnson, CarBlip chief executive officer, said that with the partnership, CarBlip […] [Read More]

After the National Highway Traffic Safety Administration denied the automaker an exemption, Ford disclosed in a filing with the Securities and Exchange Commission on Thursday that the company will be conducting a field service action to replace Takata airbag inflators in certain vehicles that are mostly at least 10 years old. Ford said the recall […] [Read More]

C.A.R.Score vehicle condition reports will now be available on the CARFAX Vehicle History Report. C.A.R.Score is a division of Dealer Specialties LLC. Shane Marcum, the president of Dealer Specialties, said including C.A.R. Score report data in the CARFAX report will allow its companies to provide consumers with specific vehicle information at different points across its […] [Read More]

Consumer visits to your dealership website to shop used-vehicle inventory or to book a service appointment online probably came through the internet pipeline attached to your customer’s home. The latest data from Comscore reinforced that possibility, especially during the COVID-19 pandemic. As millions of Americans sheltered in place, shifted to working from home as well […] [Read More]

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]