Monday, Jan. 31, 2022, 04:42 PM Dealers looking to shore up their supply of used cars by purchasing from consumers may be in luck. Citing internal data from 2021, Cars.com says 41% of its in-market audience aims to sell their vehicle prior to making a purchase. This means “new opportunities for dealers to … Source Article
COSTA MESA, Calif. – Another initiative to help finance companies cater to consumers with little or no credit backgrounds recently surfaced; this time from Experian. In what the company said is meant to further financial inclusion across the United States, Experian launched what it dubbed Experian Go, a free program to help “credit invisibles,” or people with no credit history, begin building credit “on their own terms.” The company explained through a news release that Experian Go is the only program currently available that can help consumers establish their financial identity… Read More »Experian expands credit-building tools for consumers
Monday, Jan. 31, 2022, 11:41 AM CARY, N.C. – With nearly a month of 2022 already in the books, we asked for observations from Black Book chief data science officer Alex Yurchenko and Laura Wehunt, who is vice president of automotive valuations at Black Book, for this episode of the Auto Remarketing Podcast. Yurchenko and Wehunt explained why the wholesale market has behaved like they expected. At least so far. To listen to the conversation, click on the link available below, or visit the Auto Remarketing Podcast page. Download and subscribe to the Auto Remarketing Podcast on iTunes or… Read More »PODCAST: Surveying the current wholesale market with 2 Black Book experts
Monday, Jan. 31, 2022, 11:00 AM CARY, N.C. – In this episode of the Auto Remarketing Podcast, Scott Painter and Georg Bauer return to the show to discuss their venture called Autonomy, which has launched an electric vehicle and zero-emissions vehicle subscription program, starting with the Tesla Model 3. Initially, the program will be available to consumers in California. The company plans to exapnd to additional U.S. markets. “Electric vehicles have reached a tipping point, and it’s clear that the Tesla Model 3 is this generation’s Prius,” said Painter, who is chief… Read More »PODCAST: Inside the new venture from Scott Painter & Georg Bauer
Monday, Jan. 31, 2022, 10:32 AM TROY, Mich. – J.D. Power announced a round of vice president appointments Monday, largely centered on electric vehicles, mobility and connectivity. The company has hired former Stellantis executive Elizabeth Krear — who was the automaker’s head of product planning for the Jeep Grand Wagoneer and electrified body-on-frame SUVs and trucks — as the VP of the new EV practice at J.D. Power. Former Lordstown Motors chief engineer Jack Dolan has been hired as VP of product quality performance improvement. J.D. Power has named longtime executive Dave… Read More »4 executive moves at JD Power
CARY, N.C. – Cox Automotive Mobility is going worldwide. Cox has launched a new global mobility division that will include operations in the U.S., UK, Continental Europe, Canada and Mexico, the company said Monday. Additional global markets will be added in the future, it said. The global Cox Automotive Mobility structure will focus on four key business solution areas: Fleet Services, Fleet Operations, EV Battery Solutions and Emerging Ventures. “Last year was a landmark year for Cox Automotive Mobility,” Cox Automotive president Steve Rowley said in a news release. “We’ve built the… Read More »Cox Automotive launches global mobility division
Friday, Jan. 28, 2022, 12:54 PM RICHMOND, Va. – CarLotz said Friday it has partnered with Privacy4Cars to add another layer of data-privacy protection for consumers consigning or selling their vehicles through the consignment-to-retail used-car marketplace. CarLotz has used Privacy4Cars technology to process all vehicles at its locations, scrubbing personal information captured by the vehicle. Privacy4Cars builds privacy and compliance solutions for clients to delete personal information from vehicles. Cars can capture personal information when the user connect their phone with the vehicle through Bluetooth or USB. And if the vehicle… Read More »CarLotz, Privacy4Cars team up for data privacy partnership
Friday, Jan. 28, 2022, 12:54 PM RICHMOND, Va. – CarLotz said Friday it has partnered with Privacy4Cars to add another layer of data-privacy protection for consumers consigning or selling their vehicles through the consignment-to-retail used-car marketplace. CarLotz has used Privacy4Cars technology to process all vehicles at its locations, scrubbing personal information captured by the vehicle. Privacy4Cars builds privacy and compliance solutions for clients to delete personal information from vehicles. Cars can capture personal information when the user connect their phone with the vehicle through Bluetooth or USB. And if the vehicle… Read More »CartLotz, Privacy4Cars team up for data privacy partnership
CARY, N.C. – More buy-sell moves as well as fundraising activities involving dealerships surfaced on Friday. Beginning first with more actions connected to mergers and acquisitions, Haig Partners was the exclusive sell-side advisor to the McDermott Auto Group on the sale of David McDermott Lexus and Dave McDermott Chevrolet located outside New Haven, Conn. According to a news release from Haig Partners, the buyer was PSD Automotive, which now owns 31 dealerships. David McDermott has been in the automotive retail industry since 1961. He has owned numerous dealerships throughout the years… Read More »Dealer group roundup: McDermott sale, Smail fundraising & Kramer giveaway
CARY, N.C. – More buy-sell moves as well as fundraising activities involving dealerships surfaced on Friday. Beginning first with more actions connected to mergers and acquisitions, Haig Partners was the exclusive sell-side advisor to the McDermott Auto Group on the sale of David McDermott Lexus and Dave McDermott Chevrolet located outside New Haven, Conn. According to a news release from Haig Partners, the buyer was PSD Automotive, which now owns 31 dealerships. David McDermott has been in the automotive retail industry since 1961. He has owned numerous dealerships throughout the years… Read More »Dealer group roundup: McDermott sale & Smail fundraising