Two dealerships service providers — DealerPolicy and FRIKINtech — announced on Wednesday that they’re now working together. The insurance marketplace solution for dealers and the retail desking and CRM tool provider said they have teamed up to provide online car shoppers with a better experience. FRINKINtech has integrated with DealerPolicy’s FastPASS API, allowing them to […] [Read More]

“I think I was born to play the drums,” Tom Kontos says in a mid-October phone interview. Long before the KAR Global chief economist was crunching numbers and dispensing auction market analysis, he was taking his mom’s silverware and tapping on tables as a child. Or, to the chagrin of his teachers, turning a rhythm […] [Read More]

To help solve electric vehicle adoption challenges, Hon. Seamus O'Regan, Canada’s minister of natural resources, on Tuesday announced a $1 million investment in SWTCH. That company will demonstrate a blockchain-based EV charging platform that it says will significantly reduce the cost of EV charging transactions and enhance grid efficiency. SWTCH will work with project partners […] [Read More]

Karl Brauer says the average new vehicle loses almost half of its value after five years. But some vehicles retain more of their value and depreciate less than average, said Brauer, who is executive analyst for car search engine company, iSeeCars.com. To identify models with the lowest and highest loss in value after five years, […] [Read More]

Another technology-enabled platform designed to utilize data to optimize wholesale dealer trades throughout Canada and the United States received a significant injection of investment funding this week. Signal Automotive announced a $20 million investment led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors. Formed in 2017, Signal said its […] [Read More]

End of Tenancy Cleaning — a service provider based in the United Kingdom — recently surveyed 3,230 people from across the globe, asking them, “What are some of the grossest things you have had in your car that you may have forgotten about?” The results revealed some notable findings that might be quite familiar to […] [Read More]

A TransUnion financial hardship survey in late October showed that more than half of Americans — 54% to be exact — said they have been financially impacted by the COVID-19 pandemic. And TransUnion’s origination data for both auto financing and personal loans reflect that effect. Looking at originations booked during the second quarter, TransUnion reported […] [Read More]

Shred-it discovered noticeable jumps since 2017 in both corporate executives and small-business owners reporting that they experienced a data breach. The information security service provided by Stericycle announced the findings when Shred-it released its 10th anniversary edition of the Data Protection Report, which outlines data security risks threatening U.S. enterprises and small businesses. According to […] [Read More]

Lightico not only is gaining more clients, but the platform built so customers can interact digitally with auto-finance companies and other financial services firms is securing more funding resources, too. On Tuesday, Lightico announced a $13 million investment led by Oxx, with participation from Capital One Ventures and Harmony Partners, to accelerate adoption of its […] [Read More]

Although demand for new and used vehicles remained hot through the summer months, the deep-rooted effects of COVID-19 continue to have profit-eroding implications on many auto dealers who have been forced to acquire used inventory at bloated prices at auction. Manufacturer delays and reduced inventory have all but decimated dealers’ ability to maintain new-car sales […] [Read More]