Asbury Automotive Group announced Monday it appointed longtime Toyota executive William Fay to its board of directors. The appointment of Fay was effective Thursday. Asbury chief executive officer David Hult said the appointment of Fay could place Asbury in a stronger position to execute on its five-year strategic plan that the company released in December. Fay, who spent more […] [Read More]

vAuto with Intelligent Promotion expands upon vAuto’s inventory management capabilities with all-new functionalities. The service will launch at the Cox Automotive Experience and NADA Show 2021. vAuto is a Cox Automotive brand. Using vAuto with Intelligent Promotion, dealerships gain insights and tools to create differentiated merchandising and automatically apply it to the right inventory.  One […] [Read More]

A new program called AAA Inspected, powered by SureSale, provides information to help consumers to feel sure about the used vehicle they are purchasing. That includes an independent inspection by a certified mechanic and a Factfile vehicle report. AAA Club Alliance and used-vehicle platform SureSale on Monday launched the program, which also provides a thorough […] [Read More]

Two long-standing subprime auto finance companies each made moves last week to give themselves the financial horsepower they need to continue originations and other business activities. After Consumer Portfolio Services launched its first securitization of 2021, Credit Acceptance announced the completion of a $100 million asset-backed non-recourse secured financing. Pursuant to this transaction, Credit Acceptance […] [Read More]

While he might be serving as director of the Consumer Financial Protection Bureau only in an interim capacity, Dave Uejio doesn’t appear to be just sitting idle as lawmakers eventually consider President Joe Biden’s nominee to be the permanent fixture in the post. Through a blog post on the CFPB’s website, Uejio articulated his priorities, […] [Read More]

On Thursday, which was Data Privacy Day,  Privacy4Cars founder Andrea Amico joined the Auto Remarketing Podcast to discuss the top data privacy concerns in automotive, including how dealers and auto auctions may be impacted. Amico shared his advice for the industry and how his company is helping auto auctions scrub personal data from vehicles set to be remarketed.  […] [Read More]

Kia has produced Super Bowl advertisements for 10 years. But rather than advertise in Super Bowl LV on Feb. 7, Kia will “Accelerate the Good.” The automaker will continue that program, which it started in 2019 with the Great Unknowns Scholarship to help young people in need participate in higher education. The start of the […] [Read More]

Wall Street news updates recently are filled with discussions about how social media triggered significant spikes in a couple of particular stocks. However, investment in the automotive industry continues to chug along with two developments involving a luxury OEM and a start-up in the vehicle-transport space. On Friday, Porsche Ventures announced that it has completed […] [Read More]

Carsharing marketplace HyreCar said its new and expanded strategic partnerships announced Thursday can provide infrastructure and capital that will allow the company to enter the next level of growth and scalability. The formal partnerships are with automotive mobility fleet manager, AmeriDrive Holdings, and Cogent Bank’s specialty lending unit. HyreCar, a carsharing marketplace for ridesharing, food, […] [Read More]

The next development in the working relationship involving CarGurus, Capital One, Westlake Financial and Global Lending Services (GLS) surfaced on Friday. CarGurus announced a new feature that can enable shoppers to pre-qualify for financing as they search on CarGurus for their next vehicle; a program dubbed Finance in Advance. Pre-qualification offers are provided through CarGurus’ […] [Read More]