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Cox Automotive enters the EV battery business

By Kimberly Hurley (CBT NEWS) -September 6, 2021 Cox Automotive Mobility announced on Wednesday that it had acquired Spiers New Technologies (SNT), which is a leader in electric vehicle battery lifecycle management. Cox Automotive has been quite clear that it wants to be a...

September 6, 2021

Retrospective: Top 25 finance companies findings from 2020

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Retrospective: Top 25 finance companies findings from 2020

SCHAUMBURG, Ill. (Subprime Auto Finance New) — The auto-finance industry’s appetite for the highest-risk paper declined in 2020. According to Experian’s Q4 2020 State of the Automotive Finance Market report, analysts discovered deep subprime originations of all contracts booked in...

August 31, 2021

The entrepreneurs behind Dealer.com discuss their latest startup venture

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The entrepreneurs behind Dealer.com discuss their latest startup venture

This CBT original series (Founder Focus with Steve Greenfield, founder of Automotive Ventures) dives into the inside stories behind some of the most impressive entrepreneurial journeys. In this segment, Greenfield sits down with the Co-founders of Fluency, Inc., a digital advertising automation platform...

August 29, 2021

Waning customer interest in cars swells loan size, payments for trucks

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Waning customer interest in cars swells loan size, payments for trucks

JOHN HUETTER – Automotive News Customers’ increasing preference for crossovers and SUVs means they’re making higher monthly payments and borrowing a few thousand dollars more to buy their vehicles, Experian said this month. Melinda Zabritski, Experian’s senior director of automotive financial...

August 24, 2021

Carlala – A Canadian Carvana inspired competitor to CanadaDrives

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Carlala – A Canadian Carvana inspired competitor to CanadaDrives

AutoRemarketing – The Canadian online vehicle retailing space will have another participant by the end of the year. And it’s inspired by one of the well-known operations from the United States. Last week, TEDA International Auto Group — a multinational,...

August 20, 2021

DecisioningIT leader Hobbs recognized for financing platform

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DecisioningIT leader Hobbs recognized for financing platform

Many consumers are locked out when it comes to being able to buy the vehicle they need. But thanks to a program developed by André-Martin Hobbs, they’re able to connect with dealerships to find the financing they need MONTREAL, Aug. 18,...

August 18, 2021

CarGurus launches platform for dealers to buy used cars online from consumers

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CarGurus launches platform for dealers to buy used cars online from consumers

By Joe Overby – Senior Editor, AutoRemarketing When CarGurus purchased a majority stake in CarOffer this winter, one of the benefits to the deal was that it could give CarGurus dealer partners another digital avenue to source used inventory. That capability...

July 30, 2021

F&I profits soar at largest U.S. dealership groups

F&I revenue per vehicle and overall F&I revenue rose for most of the 150 largest dealership groups in the U.S. in 2020, according to an Automotive News survey. Source: https://www.autonews.com/finance-insurance/fi-profits-soar-largest-us-dealership-groups The nation’s public and private dealerships with the highest average...

July 21, 2021

Honda cracks down: No more returning leased cars to others’ lots

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Honda cracks down: No more returning leased cars to others’ lots

The automaker will require drivers with expiring leases to return their vehicles to authorized Honda and Acura dealers and refuse to accept buyouts from unaffiliated dealers or others. July 09, 2021 06:42 AM – Bloomberg Honda Motor Co. has a rude...

July 14, 2021

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And consolidation goes on

There have been two announcements today, PureCars announced its acquisition of truPayments, LLC and XLerate Group has purchased Liquid Motors, Inc. Roadster was purchased by CDK Global less than a month ago. I believe we will see a slew of similar announcements in the next 18 to 24 months. By...

July 12, 2021