While the number of accounts TransUnion classifies as being in some form of financial hardship status closed the year below a peak registered soon after the onset of the pandemic, the level remains notably elevated and isn’t softening at the pace analysts spotted earlier. According to TransUnion’s latest Financial Services Monthly Industry Snapshot Report released […] [Read More]

It’s been an active opening month of 2021 for Kinetic Advantage, a newly formed floorplan financing company with an eye on gaining market share among independent dealerships. After landing an undisclosed amount of funding through Altamont Capital Partners, Kinetic Advantage this week announced the launch of its new cloud-based auditing program as well as a […] [Read More]

Wholesale vehicle prices in both car and truck/SUV segment groups have now declined 15 straight weeks, with the drop in car prices a bit higher than seasonally expected last week and truck declines aligning with typical trend lines. That’s according to the COVID-19 Weekly Automotive Market Update that Canadian Black Book released Tuesday. “As the […] [Read More]

Like many of my fellow cinema fans out there, I’ve been swept away reading the memoir of one of our national treasures: Matthew McConaughey. I read about 90% of “Greenlights” this past weekend and I’m saving this last stretch to finish it right on time for a Zoom book club with my siblings (Yes, we’re THAT […] [Read More]

Electronic vehicle title and registration technology firm DDI Technology has expanded its electronic title and registration product offering into Indiana as an authorized partial service provider of electronic title & registration and salvage title processing services. DDI said that through Premier EVR, it will provide a secure, web-based software system allowing Indiana dealers to electronically submit vehicle […] [Read More]

CDK Global has introduced an open, intelligent data platform that can turn high volumes of industry information into easy-to-understand, actionable insights for dealers, OEMs and third-party software developers. Called Neuron, the platform is connected to the Fortellis Automotive Commerce Exchange, which connects software developers, OEMs and dealers. Using an analytics engine powered by artificial intelligence and […] [Read More]

Georg Bauer and Scott Painter worked together at Fair. And now Bauer and Painter are collaborating again with NextCar Holding Co. (NXCR). The fintech firm, which has a mission to create a platform that enables vehicle subscriptions to scale profitably, announced on Wednesday that Bauer joined NXCR as co-founder, president and vice chairman of the board […] [Read More]

Through a new partnership between Schomp Automotive and Safe-Guard Products International, Schomp Automotive now provides an F&I product package to Schomp dealers under the One Protect brand, along with OEM-branded products. Schomp Automotive Group, a family-owned dealer group with eight stores in Colorado and Utah, said the One Protect brand includes 12 fully branded protection […] [Read More]

Hyundai, Kia and Genesis dealers that use RouteOne now have more functionality when working with their captive finance company. RouteOne recently announced that Hyundai Capital America is now an available eContracting finance source for utilizing the RouteOne platform. Through RouteOne eContracting, these franchised dealers can include F&I products from Hyundai Motor Finance, Kia Motors Finance, […] [Read More]

Just like a finance company might do with its portfolio, fintechs diversify, too. Look at what’s happening at AutoFi. Building on the strength of its digital retail platform, AutoFi has launched a new business division focused on the automotive industry’s largest enterprises. Germinating from this division is the company’s new Lending as a Service (LaaS) offering. […] [Read More]