Altamont Capital Partners said the investment firm is “impressed” with Kinetic Advantage, a newly formed floorplan financing company led by industry veterans Marty McFarland, Randy Dohse and Chris Brady. While specific terms of the transaction were not disclosed on Monday, Altamont announced that it committed “significant equity capital” to Kinetic that so far has a […] [Read More]

For consumers hoping they could stretch their finances to acquire a new vehicle, the newest Cox Automotive/Moody’s Analytics Vehicle Affordability Index (VAI) offered a bit of uplifting news on Friday. Analysts discovered affordability improved in December, as represented by median weeks of income needed to purchase a new vehicle declined to 32.2 weeks from 33.8 […] [Read More]

President-Elect Joe Biden announced a number of key administration posts on Monday, including his choices to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission. Biden picked Rohit Chopra, currently a commissioner with the Federal Trade Commission, to oversee the CFPB, and Gary Gensler, who previously served as chairman of the U.S. […] [Read More]

Through an integration between cloud-native dealer management system Dominion VUE DMS and Kia Motors dealers’ web daily communication system via Motive Retail, Kia dealerships can synergize across different departments with a cloud-native DMS that offers security and mobility. Dominion Dealer Solutions says its Dominion VUE DMS helps dealers experience digital mobility, security and efficiency to […] [Read More]

Look for used-car sales to go slightly north of 40 million units in 2021 after a slower year in 2020. More specifically, TrueCar is forecasting 40.05 million total used-car sales for this year. On the new-car side, the company is projecting 16.0 million total sales this year, with 13.9 million of those being retail sales. […] [Read More]

New leadership is set to guide FordDirect beginning on Feb. 1. In a move cheered by an Ohio dealer and chairman of the FordDirect board of managers, the joint venture between Ford and its franchise dealers announced on Friday that it has been appointed Matt VanDyke as chief executive officer. And also effective at the […] [Read More]

Through a new partnership between Ambient Automotive and Auction Edge to integrate EDGE Pipeline auction run lists into Ambient’s dealer software Carbly VIN Scanner, dealers can view complete Pipeline auction listings for more than 165 U.S. auction locations. Carbly dealers can now browse EDGE Pipeline auctions to source their preferred inventory. At the same time […] [Read More]

CarGurus has wrapped up its purchase of a majority stake in CarOffer.  The company announced early Thursday evening that its acquisition of 51% interest in the automated instant vehicle trade platform, a deal initially announced in December, had closed. CarGurus also has the ability to purchase CarOffer’s remaining equity interest over the next three years. When it […] [Read More]

Digital logistics marketplace Autosled is the newest national membership benefit partner of the National Independent Automobile Dealers Association. And as part of the partnership, Autosled is offering NIADA member dealers a first vehicle transport discount. The discount is available to association members who join as new customers. NIADA director of business development James Gibson said […] [Read More]

While other segments of the economy are struggling, Equifax highlighted that vehicle sales showed strength at the end of 2020 in spite of the economic impacts of the COVID-19 pandemic. And Equifax is trying to help make sure the industry stays in that position through its latest solutions. To assist dealers and finance companies more […] [Read More]