TradeRev has expanded its dealer-to-dealer digital auction platform services into five new markets across the United States.
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ACV Auctions Inc. is on pace to sell over 100,000 vehicles by the end of 2018, after selling 8,600 vehicles in August, according to the company.
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Shift currently operates in California and is the largest used car retailer in San Francisco. By year end, the company expects to sell approximately 8,000 used vehicles.
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The federal criminal complaint that charged the two for odometer fraud alleged that for four years the two men had purchased vehicles from auctions, dealers, and individuals in order to alter the odometers to reflect lower mileage numbers.
Read More →Edmund Field will act as president of the company, which offers extended service contract protection plans for pre-owned vehicles at independent used car dealerships and at small franchise retail automotive and power sport dealers.
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Lease credit approvals on Swapalease’s marketplace took a small dip in June, falling to 68.4%, the company noted in an announcement.
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The Federal Trade Commission, working jointly with 12 partner agencies in seven states, conducted the first compliance sweep of car dealerships since its amended Used Car Rule took effect earlier this year, the regulator announced.
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Ready Logistics and NextGear Capital have added a new feature to their Transportation Financing program that makes it simpler for their auction clients to add transportation costs to their floor plans.
Read More →CU Direct has partnered with CU Direct Connect in order to better meet the growing indirect lending needs of credit unions and to strengthen the position of the credit union industry with auto dealers across the country.
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With the labor market continuing to strengthen and economic activity rising at a solid rate, the Federal Reserve raised the Federal Funds Rate a quarter percentage point for the second time this year — putting the target for short-term rates in the 1.75 to 2% range.
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