Spiffy began as a mobile car wash and detailing service, but has since expanded to cover other aspects of car care, like oil changes, tire replacement and vehicle disinfection. And Wednesday, the company announced a trio of partnerships and a third-party marketplace that address the needs of vehicle ownership to an even deeper degree — and […] [Read More]

Despite a cautionary tone from the Federal Reserve chairman about what is — or is not — being done by federal lawmakers, one survey showed consumers appear poised to spend more in the fourth quarter and beyond. While Fed chair Jerome Powell said an “expansion is still far from complete,” advertising technology provider OpenX discovered […] [Read More]

Two former Cox Automotive leaders in the U.S. have joined a company that describes itself as “a fintech provider disrupting the automotive industry.” John Canales and Brent Green are now senior advisers with PowerBand Solutions, which offers an integrated, cloud-based transaction platform that facilitates transactions among consumers, dealers, funders and OEMs. Canales and Green have […] [Read More]

During Wednesday’s quarterly Manheim Used Vehicle Value index call with the industry, Cox Automotive chief economist Jonathan Smoke began his opening comments with this update. "On this call, we find the industry and used-vehicle values having performed very strongly in the last quarter, but September marked an important change," Smoke said.  For one, that change involved […] [Read More]

DriveTime created a new executive position and filled it on Wednesday with a former member of the investment team at Wells Fargo. According to a news release, taking on this newly created role as assistant vice president of corporate development is Chase McDonough, who will be focused on expanding DriveTime’s product offering within the auto […] [Read More]

Getting a little extra in the paycheck certainly can help in a myriad of ways, especially nowadays. This week, Portfolio announced the launch of Portfolio Accelerate, a new spiff program for F&I professionals. Built upon a fully web-based platform, the program was designed to offer agents and dealers an easier way to reward top performers. […] [Read More]

Point Predictive recently bolstered both its human and financial resources. The San Diego-based company, which  provides machine learning solutions to the financing industry to curb fraud and streamline operations, announced that it has completed its Series B growth financing. Napier Park Financial Partners led the investment round with participation from the company’s existing investor, Mosaik […] [Read More]

Within a week of expanding its financial commitment to Carvana, Ally Financial made a move with another company in the digital-retailing space: Vroom. On Tuesday, the ecommerce platform for buying and selling used vehicles announced an extension of its $450 million inventory financing agreement with Ally. According to a news release, Ally has provided Vroom […] [Read More]

The American Recovery Association is looking to smooth one of the most challenging parts of the recovery process through what the organization is calling a “ground-breaking” partnership with ACV Auctions. With access to ACV’s inspection services and active marketplace, ARA said on Wednesday that its members now can leverage ACV to seamlessly inspect, list and sell […] [Read More]

Copart has made a trio of senior leadership moves this week, including naming a new chief operating officer, chief marketing and product officer and chief financial officer. Starting with the new COO to replace the recently retired Sean Eldridge, appointed to that position was Steve Powers, who had been the company’s Eastern Division vice president […] [Read More]