Carvana has started a new program to help its team members work toward completing an undergraduate degree. The program is called Carvana KEYS, with the acronym standing for Keeping Education in Your Sight. Through the internal initiative, Carvana team members can apply to seek financial and programmatic assistance toward earning their college degrees. Carvana KEYS […] [Read More]

The RVI Group has hired David McKay as vice president of business development and sales in the company’s passenger vehicle department. For the RVI Group, which offers residual value insurance and financial and analytical services, McKay’s responsibilities will include business development, which includes sales and product design. Auto industry asset value protection insurance products will be […] [Read More]

Leaders from fusionZONE Automotive and WheelsTV see dealerships needing to flourish in a “video economy,” so the companies finalized a partnership on Thursday with the intention of helping stores with their marketing efforts. The dealer website solution and provider of video test drive reports for more than a decade now are working together so fusionZONE will […] [Read More]

DriveTime Automotive Group and Bridgecrest Acceptance Corp. are adding to their workforces at a time when the U.S. still is shedding thousands of jobs because of the pandemic. The companies announced they will be hiring more than 500 full-time workers nationwide for roles in retail, automotive repair and customer service as part of their 2021 […] [Read More]

Here’s another update to start 2021 from our busy mergers and acquisitions desk. Protective Life Corp., overseer of Protective Asset Protection and a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, announced this week it completed the transaction to acquire the Revolos family of companies. Revolos offers a suite of F&I products, including vehicle service […] [Read More]

Consignment-to-retail used-vehicle marketplace CarLotz nominated four individuals to its board of directors, with the company’s chief executive officer and co-founder Michael Bor describing them as “pioneers in their industries.” CarLotz recently announced it would become a public company via a merger with special purpose acquisition company Acamar Partners Acquisition Corp. The company said it nominated […] [Read More]

The digital retail space continues to evolve. But because of the pandemic, many manufacturers were forced to speed up the process, says Jon Sundberg, who is senior manager of digital solutions at J.D. Power. Sundberg was discussing the new J.D. Power 2021 U.S. Manufacturer Website Evaluation Study, which found that overall satisfaction of automotive manufacturer websites […] [Read More]

Credit Acceptance founder Don Foss created his own dealership group 10 years ago. And now a decade later, that operation — CARite — has 26 locations with the two newest ones coming into the group this week. According to a news release, CARite added locations in Stratford, Conn., its second lot in the state, as […] [Read More]

Sometimes, too many cooks in the kitchen can be a recipe for disaster. But Agora Data championed a financial dish with several buy-here, pay-here operators and smaller finance companies that the tech firm says “represents a quantum leap” for their access to capital markets funding. This week, Agora Data announced the successful closing of what […] [Read More]

A 2019 study published in the Journal of Planning Education and Research examined how vehicle ownership and income are directly related to poverty, coining the term, “Poverty of the Carless.” During the past 60 years, the study indicated all advances in society in the U.S. have been made on the premise of universal private vehicle […] [Read More]