Shift Technologies has added three new members to its planned public-company board of directors following the approval and completion of its pending merger with Insurance Acquisition Corp. Shift, an online used car marketplace, said all three of the new directors are former executives of global consumer companies. Those companies include General Motors, Wealthfront and Hilton. […] [Read More]

August consumer bankruptcy filings decreased both year-over-year and month-over-month. The head of the American Bankruptcy Institute explained why that movement happened. Before getting into the reasoning from executive director Amy Quackenboss, ABI shared data this week provided by Epiq Systems that showed the 36,877 consumer filings in August represented a 42% drop from the consumer […] [Read More]

Used Car Week will be an all-digital endeavor this year, with content spread across four weeks this fall. Here’s how that shakes out. The action begins the week of Nov. 16-20, with the Auto Fin Con and the National Auto Finance Association’s Annual Non-Prime Auto Financing Conference, which will run concurrently.  Then, Dec. 2-Dec. 4 […] [Read More]

Motoinsight provides digital retailing services for the automotive industry, stating that it “powers the digital shopping experience” for hundreds of North American dealers and several OEMs. The company recently announced that with its recent acceptance into MiDIGITALSOLUTIONS — the certified provider program for Mitsubishi Motors North America — Mitsubishi joins other automakers that have included […] [Read More]

Kids Help Phone is an “e-mental health service” that provides a safe space for youth to talk over the phone, online chat or text in any moment of crisis or need. The program conducted a recent survey showing that one in three texters is experiencing distress about returning to the classroom. To help, Honda’s charitable […] [Read More]

There were only so many specifics KAR Global’s executive leadership could provide, pending regulatory approvals, but a conference call Tuesday with the investment community offered a glimpse into the strategy behind KAR’s agreement to buy BacklotCars for $425 million and what the dealer-to-dealer online auction platform may bring to the company. First, the basics. KAR […] [Read More]

While still facing headwinds, recent information from the U.S. Department of Labor, the Conference Board and ManpowerGroup showed encouraging trends associated with jobs — a key indicator for potential dealership retail vehicle sales and finance company portfolio health. Acknowledging on Labor Day that “this has been a year of extraordinary challenges for American workers,” U.S. […] [Read More]

Chicago Automobile Trade Association chairman Kevin Keefe says the instinct to help others “is deeply rooted within local car dealers.” “And they’re among the first to roll up their sleeves and help when people need it most,” Keefe said in a news release. Chicagoland’s new-car dealers for the past seven years have supported hometown heroes […] [Read More]

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]