Credit Acceptance set a record during the second quarter courtesy of artificial intelligence. The subprime auto finance company said late Tuesday afternoon that a record 11,004 dealers were active on its platform during Q2, with the company enrolling 1,456 new dealers. Credit Acceptance cited two reasons for the record achievement, including: —Deal optimization: Enhanced its […] [Read More]

With the Presidio Group acting as exclusive financial advisor, STELLA Automotive AI on Monday announced the closing of its Series B financing round, which raised $22.1 million to accelerate commercial expansion, scale go-to-market initiatives and support continued product development. According to a news release from Presidio Group, the round was led by Maroone USA, and […] [Read More]

Adverse action notices in subprime auto financing are common. An acquisition that closed on the last day of July and announced publicly on Monday is designed to make sure that’s not the end of the road for all parties involved. MeridianLink, a provider of modern software platforms for financial institutions and consumer reporting agencies, acquired […] [Read More]

Yotta Automated Software Solutions (YASSI) is making a notable announcement per week nowadays. The pattern continued Monday when the provider of real-time vehicle and title data infrastructure for the automotive, insurance, and lending industries introduced VIN360. YASSI highlighted VIN360 is a new intelligence layer that can analyze the full history associated with a single VIN. […] [Read More]

Spyne is already thinking about 2027 when it comes to artificial intelligence used at dealerships. According to Spyne’s latest Auto Retail Intelligence Quarterly report, experts projected a “pivotal shift” in AI use next year, saying “those that embed AI within connected systems linking customers, vehicles, and deals will outpace dealerships relying on isolated AI tools. […] [Read More]

Cox Automotive’s Central Dispatch looked to give shippers and carriers an upgrade on Tuesday. The automotive logistics operation said it has enhanced its artificial intelligence-powered Price Check Plus tool with three updates meant to better reflect what’s happening in the market right now due to recent macroeconomic pressures. They include: —Refresh pricing data more frequently, […] [Read More]

Just like how your smartphone goes through software updates regularly, ACV Auctions on Tuesday rolled out more than a half dozen enhancements across the ACV Marketplace. These are designed to help dealers buy and sell vehicles with greater speed, confidence, and efficiency. Among the selling enhancements: —Scheduled auction: Designed to take the speculation out of […] [Read More]

AutoRaptor is seeing some positive returns since joining NIADA’s member benefit program this spring, in particular during last month’s annual convention hosted by the National Independent Automobile Dealers Association. The automotive CRM platform powered by artificial intelligence and built exclusively for independent dealerships is offering association members up to 35% off their monthly subscription. “We’ve […] [Read More]

FM Capital likes what’s developing with Impel, so last week the venture capital firm returned to increase its position in the company, which offers artificial-intelligence powered solutions for automotive retailing. According to a news release, FM Capital completed a follow-on, secondary share purchase six months after first investing in Impel. This follow-on investment makes Impel […] [Read More]

With the auto-finance market among its targets, KredosAi, an artificial intelligence-powered collections platform that enhances revenue recovery by leveraging behavioral intelligence, recently announced the close of a $7 million Series A funding round led by BMW i Ventures. According to a news release, the round was oversubscribed, with strong demand from both new and existing […] [Read More]