Financial

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 […] [Read More]

Automotive F&I products provider and administrator APCO Holdings announced initiatives to improve diversity and equity within the company, including the formation of a diversity and inclusion council that has launched new inclusion and unconscious bias training courses required for all employees. APCO said the company plans to continue building a stronger culture of inclusion. “As […] [Read More]

The approval rate at Swapalease.com closed 2020 on a high note, prompting an “optimistic” outlook for this year. Site officials reported on Tuesday that the approval rate for applicants looking to take over a vehicle lease came in at the highest rate of the year in December, registering in at 72.7%. That reading to round […] [Read More]

The RVI Group has hired David McKay as vice president of business development and sales in the company’s passenger vehicle department. For the RVI Group, which offers residual value insurance and financial and analytical services, McKay’s responsibilities will include business development, which includes sales and product design. Auto industry asset value protection insurance products will be […] [Read More]

New-vehicle leasing still isn’t quite at the level seen before the pandemic started, according to data provided by Experian Automotive. During the first quarter of this year, Experian reported that 30.19% of all new-model deliveries were connected to a lease. In the second quarter with COVID-19 in play, analysts found that leasing softened to 25.81%. […] [Read More]

Independent dealers who use ACV Auctions to acquire inventory now have another option for their floor planning. On Tuesday, First Business — which just launched its floorplan service in June — announced a new agreement to offer floorplan financing through ACV. The company highlighted that the partnership can allow independent dealers who have earned competitive pricing […] [Read More]

Automotive ecommerce provider Modal announced a $15 million round of Series A financing Tuesday led by American Honda, which has been working with the company the past two years to build branded online-buying tools for its Honda and Acura brands. Prior investors also participated in the round, Modal said. “Our new financing will allow us to […] [Read More]

Used Car Week’s Auto Fin Con concludes Friday with another round of live sessions. The virtual expo hall opens at 11 a.m. (ET), and the day gets rolling in earnest at noon with opening comments from Cherokee Media Group president Bill Zadeits, DRN executive vice president/general manager Jeremiah Wheeler and NAF Association president Joel Kennedy. The first […] [Read More]

The live sessions at Used Car Week, which began Monday with the concurrent Auto Fin Con and NAF Association events, continue Wednesday with a full slate of great presentations and panels. The virtual expo hall opens at 11 a.m. (ET), and the day gets rolling in earnest at noon with opening comments from Cherokee Media […] [Read More]

In this episode of the Auto Remarketing Podcast, we catch up with Alejandro Cabrera and Mauricio Cuevas, co-founders of Uproar.car, a tech startup aiming to disintermediate the auto warranty market through online subscriptions. The business partners, who met while working at Microsoft, explain how the service works, the growth of digital solutions in the ancillary […] [Read More]