Back in June, Vroom launched its initial public offering; a move the online auto retailer called both “exciting” and “unusual.” Vroom made its next investment move this week, announcing that it has commenced an underwritten public offering of its common stock. Vroom is offering 9 million shares of its common stock pursuant to a registration […] [Read More]

Volkswagen and Audi dealers that use Darwin Automotive’s digital F&I offerings potentially have some extra incentives to leverage. This week, the  F&I software provider announced that through its preferred provider relationship with Safe-Guard Products International, Volkswagen and Audi dealers offering the Volkswagen Drive Easy and Audi Pure Protection suite of F&I products now can qualify […] [Read More]

After receiving a significant volume of nominations this summer, Cherokee Media Group on Wednesday announced the third collection of honorees included in Women in Auto Finance, presented by American Recovery Service. This industry award program is part of the initiatives that honor the most dedicated and talented professionals from throughout the used-car industry. This year’s […] [Read More]

Less than a month after launching its F&I solution, ZipDeal this week unveiled a free eBook the company said was created to help dealers combat the erosion of front-end profits on new and used vehicles with a customer-driven, digital vehicle delivery experience that. ZipDeal chief executive officer and partner Tony Gomez elaborated about the eBook […] [Read More]

Dealer Owned Warranty Co. recently promoted industry veteran Gene Silas as director of sales. The provider and administrator of F&I products and services said Silas brings a wealth of experience and dealer relationships to his new role at DOWC. Following his service as with the U.S. Marine Corps, Silas entered the automotive space working his […] [Read More]

A musty odor in the interior. Damp carpets. Rust around doors. With the arrival of hurricane season and more waterlogged vehicles showing up around the country, CARFAX is releasing information on various aspects of the situation, such as telltale signs of vehicle flooding. CARFAX is also highlighting statistics such as the fact that 446,836 flood-damaged […] [Read More]

Myers Auto Group of West Palm Beach, Fla. has acquired Mastro Subaru of Tampa, Fla. and Mastro Subaru of Orlando in Sanford, Fla. New car dealership broker George Chaconas of Performance Brokerage Services announced the sale, and Performance said Mastro Subaru is known as “Florida’s original Subaru retailer.” Family-owned-and-operated Mastro Subaru has served the Tampa […] [Read More]

Wholesale vehicle prices are on quite a hot streak. The Manheim Used Vehicle Value Index climbed nearly 16% year-over-year in August and soared to a third straight record month. Specifically, the index was at 163.7 for the month, up 15.8% from August 2019. There was a 3.64% rise in wholesale prices (adjusted for mix, mileage […] [Read More]

Experian identified leasing market penetration among the top 20 automakers that booked that kind of financing during the second quarter. Swapalease.com also pinpointed two factors that could enhance brand loyalty in the leasing segment; information that could be especially valuable since the site discovered nearly eight out of every 10 leaseholders would like to exit […] [Read More]

Hyundai Auto Canada Corp. posted its strongest August ever for certified pre-owned sales, moving a shade less than 1,300 units. Calling it “another great month for Hyundai’s H-Promise CPO program,” Charles Plewes, who heads up CPO and remarketing for Hyundai Canada, said the 1,292 CPO vehicles sold by Hyundai’s Canadian dealers last month was a […] [Read More]