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CarLotz starts trading on Nasdaq, marking ‘beginning of something amazing’

CARY, N.C. –  CarLotz is now officially a publicly traded company. Its shares began trading Friday on the Nasdaq Global Market, following the completion of its merger Thursday with Acamar Partners Acquisition Corp., a special purpose acquisition corporation. The merger was first announced in October. The combined company’s ticker symbol is “LOTZ.” “Today marks another major milestone for CarLotz as we begin this next chapter as a public company. I couldn’t be more proud of the CarLotz team today, including all our CarLotz alumni, who put their hearts and souls into… Read More »CarLotz starts trading on Nasdaq, marking ‘beginning of something amazing’

Ford recalling 3 million older models over Takata airbags

DEARBORN, Mich. –  After the National Highway Traffic Safety Administration denied the automaker an exemption, Ford disclosed in a filing with the Securities and Exchange Commission on Thursday that the company will be conducting a field service action to replace Takata airbag inflators in certain vehicles that are mostly at least 10 years old. Ford said the recall will include approximately 2.7 million vehicles in the United States and approximately 0.3 million vehicles in Canada and other locations. The specific vehicles included in the campaign are: — 2007-2011 Ford Ranger —… Read More »Ford recalling 3 million older models over Takata airbags

CARFAX Vehicle History Report now includes C.A.R.Score vehicle condition

MONROE, Ohio –  C.A.R.Score vehicle condition reports will now be available on the CARFAX Vehicle History Report. C.A.R.Score is a division of Dealer Specialties LLC. Shane Marcum, the president of Dealer Specialties, said including C.A.R. Score report data in the CARFAX report will allow its companies to provide consumers with specific vehicle information at different points across its lifecycle. That will allow consumers to make better decisions about the vehicle they are considering, and consumers will be more confident in their purchase decision, Marcum said. The vehicle condition details that C.A.R.Score… Read More »CARFAX Vehicle History Report now includes C.A.R.Score vehicle condition

Comscore: In-home data usage levels jumped 18% in 2020

RESTON, Va. –  Consumer visits to your dealership website to shop used-vehicle inventory or to book a service appointment online probably came through the internet pipeline attached to your customer’s home. The latest data from Comscore reinforced that possibility, especially during the COVID-19 pandemic. As millions of Americans sheltered in place, shifted to working from home as well as remote learning and perhaps conducted activities associated with their vehicles, ongoing research from Comscore found that overall in-home data usage levels throughout 2020 remained significantly higher than in 2019. Overall, Comscore said… Read More »Comscore: In-home data usage levels jumped 18% in 2020

Portfolio taps Neuenschwander to succeed Haugen as CSO

LAKE FOREST, Calif. –  Portfolio chief sales officer Dan Haugen has retired in a move effective Dec. 31. And the F&I solutions provider didn’t have to look far for a replacement, turning to David Neuenschwander, president of National Automotive Experts and NWAN, the Strongsville, Ohio-based company acquired by Portfolio last year. “Dan Haugen has filled numerous leadership roles during his 15 years at Portfolio and has been a big part of our amazing growth,” Portfolio President and chief executive officer Brent Griggs said in a news release. “We are excited to… Read More »Portfolio taps Neuenschwander to succeed Haugen as CSO

CarGurus names new CEO; Steinert to be executive chairman

CAMBRIDGE, Mass. –  CarGurus has a new chief executive officer Founder Langley Steinert is transitioning out of the role and will become the executive chairman. Named to the CEO post is Jason Trevisan, who was chief financial officer of CarGurus and its president of international. He joined the company as its CFO in 2015. Steinert, who founded the company in 2006, said in a letter to CarGurus’ shareholders that he wants to put more of his focus on the company’s long-term product strategy, saying, “Now, and with the board’s full support, it is… Read More »CarGurus names new CEO; Steinert to be executive chairman

Stellantis appoints top executive team

AMSTERDAM, Netherlands –  Stellantis appointed its top executive team, in addition to nine dedicated committees covering companywide performance and strategy. Stellantis chief executive officer Carlos Tavares said the team was highly competitive, committed and well balanced and will use its combined skills and diverse backgrounds to guide Stellantis. The committees are strategy council, business review, global program committee, industrial committee, allocations committee, region committee, brand committee, styling review, and brand review. Chief executive officer: Carlos Tavares Strategic and performance: – Head of Americas: Mike Manley – Global corporate office: Silvia Vernetti… Read More »Stellantis appoints top executive team

Longest-held vehicles: Japanese models dominate top 10

WOBURN, Mass. –  Karl Brauer describes Toyota Prius owners as eco-minded consumers who want to hold on to their vehicles as long as they can. Owners of Priuses who have kept their vehicles on the road for at least 15 years are early adopters of hybrid vehicle technology, said Brauer, who is executive analyst for iSeeCars.com. “Priuses also attract practical drivers thanks to their fuel economy and their low ownership costs, and prolonged ownership of the vehicle helps drivers maximize their fuel savings,” Brauer said in a news release. Brauer’s comments… Read More »Longest-held vehicles: Japanese models dominate top 10

More regulatory changes: FTC chairman resigns, too

WASHINGTON, D.C. –  A day after the director of the Consumer Financial Protection Bureau resigned, the chairman of the Federal Trade Commission made the same decision. FTC chairman Joseph Simons announced his resignation from the agency on Thursday. While the decision to leave the CFPB by Kathy Kraninger was immediate, a news release from the FTC indicated that Simons’ resignation is effective next Friday. “It’s been a great honor to lead this incredible organization filled with so many talented people working on behalf of American consumers,” Simons said. “As technology and… Read More »More regulatory changes: FTC chairman resigns, too

New TrueCar CFO to help guide profitability goals

Thursday, Jan. 21, 2021, 01:53 PM SANTA MONICA, Calif. –  Jantoon Reigersman has been appointed chief financial officer for TrueCar, with the company’s president and chief executive officer Mike Darrow saying Reigersman will help align the company’s business and financial strategies toward TrueCar’s next chapter of growth and profitability. Reigersman said he looked forward to joining TrueCar during what he described as a pivotal time in company history, adding that online retailing is revolutionizing the traditional car-buying process. He will report directly to Darrow. Previously, Reigersman was chief financial officer with… Read More »New TrueCar CFO to help guide profitability goals