February 2021

ACV Auctions has filed the paperwork for an initial public offering.  A Form S-1 was filed with the Securities and Exchange Commission on Friday for an initial IPO of ACV’s Class A common stock.  In the form, which was published at 4:32 pm (ET), the Proposed Maximum Aggregate Offering Price was set at $100 million.  ACV has applied to list its Class A common on NASDAQ under the “ACVA” ticker. Auto Remarketing will have more on this story as it develops.  Source Article

Friday, Feb. 26, 2021, 02:55 PM CHICAGO –  Xcite Automotive, which performs digital merchandising for auto dealerships with tools such as automotive photography, 360 Spin video and lot tracking technology, is now included in the Jaguar Land Rover Certified program. Xcite vice president of strategic accounts Anne-Marie Cormier said because showroom visits are currently limited, vehicle visuals are crucial in the digital shopping journey. The program will help dealers improve that journey for customers, including services for streamlining vehicle photography, with captures of interior and exterior 360 “spins” that the company… Read More »Xcite digital images included in Jaguar Land Rover certified program

Friday, Feb. 26, 2021, 02:06 PM GRANITE BAY, Calif. –  ReviverMX, which sells digital license plates allowing motor vehicle administrations to digitize vehicle registration renewals and other transactions, is now supporting Arizona educational initiatives. Madison Education Foundation will offer Reviver’s Rplate digital license plate for sale to help support the All in for Arizona Schools initiative. According to ReviverMX, the plates will contribute to help what it describes as the next generation of big thinkers, go-getters and problem solvers. All in for Arizona Schools supports Title 1, first-year public school teachers… Read More »Digital license plates to support education

Friday, Feb. 26, 2021, 11:40 AM CARY, N.C. –  CarMax is now offering consumers online vehicle appraisal offers through a new tool launched across the country this week. The online appraisal tool is designed to provide an offer on a customer’s car in less than two minutes, the company said. The offer is good for seven days and is subject to the vehicle’s mechanical and cosmetic condition being verified. “There’s no doubt that the pandemic brought on changes in buying behavior with consumers focused on convenience and safety, and looking to… Read More »CarMax adds online trade appraisals

LOS ANGELES –  Carsharing marketplace HyreCar appointed new leaders on Thursday, saying that they were coming on board at a time of significant growth opportunities for the company. After serving as the company’s senior vice-president of strategic partnerships, Brian Allan will assume the role of president for HyreCar, a carsharing marketplace for ridesharing, food, and package delivery services. The company also appointed leaders for the roles of chief technology officer and senior vice-president of product and operations. All three executive appointments are effective Monday. As for Allan, he has led HyreCar’s… Read More »HyreCar appoints new president, additional executives

PHILADELPHIA –  Online car-buying start-up Gettacar announced $25 million round of funding, saying that it will use the capital to continue investing in the customer experience, expanding into new markets and developing products. 3L and Luxor Capital led the round of funding, with additional participation from Torch Capital. The latest round brought the total funding for Gettacar to $48 million. Gettacar founder and chief executive officer Yossi Levi said the company’s consumer offerings include 48-hour deliveries, at-home test driving, and a 365-day bumper-to-bumper protection and maintenance package included with every car. Currently available… Read More »Gettacar gets funding to continue boosting car ownership experience

Wednesday, Feb. 24, 2021, 03:43 PM CHICAGO –  A new vehicle home delivery service from Montway Auto Transport is an end-to-end automotive transportation service for dealers to provide estimated delivery dates and shipping prices on their website. The managed service handles shipping quotes and vehicle delivery updates in a single online portal. With this website-integrated widget, dealerships can expand their targeted audiences with nationwide selling opportunities. The online widget displays vehicle shipping prices and estimated delivery dates in real-time. That provides greater insight for consumers browsing online, Montway said. The white-labeled… Read More »Montway transport service could simplify dealer home delivery

CARMEL, Ind. –  ADESA has launched a new return guarantee available to ADESA and TradeRev customers in Canada that allows participating dealers to return eligible vehicles within 30 days for a full refund of the purchase price and associated buy fee. The new service is called ADESA Assurance, and ADESA Canada chief operating officer Trevor Henderson said dealers subscribing to the service can bid more confidently, knowing they can return eligible vehicles for any reason, with no questions asked. For TradeRev customers, ADESA Assurance will cost $149 per eligible vehicle purchased.… Read More »ADESA Assurance provides 30-day vehicle return guarantee

HOUSTON –  On Tuesday, Spiffy announced a partnership with one of the most recognized petroleum companies in the world to gain a stronger presence in the fleet space. The on-demand car care, technology and services company now is partners with Shell Oil Products U.S., one of the largest branded commercial fleet fuel card providers in the world. The fruit of the partnership is Shell Fleet Solutions customers can access mobile and fixed-site fleet care services provided by Spiffy. Building on its digital platform, which gives users access to all fleet maintenance… Read More »Spiffy & Shell partner to offer mobile fleet services

CENTREVILLE, Va. –  Accident history is the No. 1 thing used-car shoppers look for in a vehicle’s history, according to CARFAX. The company said that although Americans are driving less because of the COVID pandemic, and accidents were down in the second half of last year, car dealers should know whether a vehicle has sustained damage. “Otherwise they could be overpaying by hundreds, if not thousands, of dollars — directly affecting their bottom line,” CARFAX said in a news release. To see if damage has been reported to CARFAX, dealers can… Read More »CARFAX accident data digs deeper into damage history