Fueled by its Series C financing round of $150 million, Tekion recently announced its valuation now stands at more than $1 billion. And with an array of automakers and major dealership groups in the mix, the cloud technology company and provider of a Sofware as a Service retail operating platform have its eyes on making […] [Read More]

BMW Group Financial Services made a move this week to shore up its technological capabilities to serve its automobile and motorcycle retailers. Hybrid cloud data warehouse company Yellowbrick Data announced it has been selected by BMW Group Financial Services to improve the group’s analytics performance and capabilities. BMW Group Financial Services provides financing and leasing […] [Read More]

With consumer fraud incidents on the rise — especially through a scam that started on social media — the Federal Trade Commission recently launched a new reporting system. Highlighting automotive as one of the primary segments in its opening campaign, the FTC has launched a new website, ReportFraud.ftc.gov, where consumers can report fraud and all […] [Read More]

A recent study of auto dealerships has found that technology-driven marketing performs up to 4.5 times better than manual marketing. One dealership in the data pool boosted its leads per month from 110 manually to more than 400 leads with automated technology, according to the study from marketing automation platform AutoLeadStar. The study also found […] [Read More]

Used-vehicle sales for October are likely to beat year-ago figures by 1%, according to an ALG/TrueCar forecast, which calls for 3.3 million used sales for the month. While this tally would be a 4% drop from September, it would represent the fifth consecutive year-over-year increase in used sales, ALG/TrueCar said. Used-vehicle prices are also climbing […] [Read More]

Used-vehicle retailer CarMax says it is hiring for “long-term careers” rather than for temporary seasonal positions. CarMax said it plans to hire for more than 3,500 positions companywide by the end of the year and noted that auto technicians, detailers, painters and inventory associates are among the positions in highest demand. Other high-demand positions are […] [Read More]

General Motors dealerships using DealerSocket’s Inventory+ inventory management software can now syndicate inventory to GM-participating website providers and programs. That includes the automaker's Shop-Click-Drive e-commerce tool. Auto industry SaaS provider DealerSocket said Monday that its Inventory+ software is now participating in General Motors’ Dealer Vehicle Inventory Management program, or DVIM. DealerSocket said the DVIM program […] [Read More]

In a transaction involving Kerrigan Advisors, two groups purchased three franchised dealerships in Illinois from Continental Motors of Naperville. According to a news release, Continental Audi and Continental Mazda were sold to Chicago-based Bill Napleton Auto Group, while Continental Acura was sold to Desmond Roberts, owner of Advantage Chevrolet of Hodgkins, Advantage Chevrolet of Bolingbrook […] [Read More]

Shyft Auto is looking to leverage its recent momentum as an award-winning app designed to help connect consumers to automotive service facilities for contactless service experiences.  On Tuesday, the company announced the launch of a Republic crowdfunding campaign to fund development, national expansion and application improvements.    Shyft Auto was just named Best Global Automotive […] [Read More]

Grené Baranco explained why her recognition from Ally Financial and the National Association of Minority Automobile Dealers (NAMAD) sends “an important message.” On Tuesday, Ally and NAMAD joined forces to name Baranco, who is the new and used sales manager of Mercedes-Benz of Buckhead, as the recipient of the third annual “Ally Sees Her” award […] [Read More]