January 17, 2019 — Digital Air Strike will announce two acquisitions this week bringing its total to three in the last 10 months. The company is acquiring Target Media Partners Interactive (TMPi), a lead generation ad tech firm, and Libra Systems, a financing, and leasing software company. With the two additions, Digital Air Strike now… Continue Reading
Fair to Go Global with SoftBank Investment
December 20, 2018 — Fueled by a $385 million Series B investment led by SoftBank, vehicle subscription platform Fair is going global. After officially launching in August 2017, Fair is now in 26 U.S. markets with nearly 52,000 vehicles from 3,200 dealerships available on its mobile app. More than 20,000 consumers have used the platform… Continue Reading
CDK, Reynolds and Reynolds Fourth Attempt to Dismiss Antitrust Cases Fails
October 23, 2018 — Reynolds and Reynolds and CDK Global and their joint venture Computer Vehicle Registration (CVR) failed in their fourth attempt to dismiss the lawsuits alleging they engaged in several antitrust activities. Late Monday, Judge Robert Dowd in Illinois’ Northern District denied the defendant’s motions to dismiss the lawsuits filed by Motor Vehicle… Continue Reading
Shift Secures Floor Plan Credit Leveraging Lithia Investment
October 11, 2018 — Automotive online transaction platform Shift Technologies is beginning to see the early benefits of the recent $54 million investment from Lithia Motors, one of the country’s largest dealership groups. Shift announced this morning that through its relationship with Lithia, it has secured a floor plan credit line four times larger than… Continue Reading
Lyft’s RideShare Services Integrated into RedCap’s Transportation Platform
October 11. 2018 — While Lyft executives continue to predict the end of private ownership, the rideshare company is expanding its business into dealerships. It’s latest foray is with RedCap Technologies, which today announced the launch of a new courtesy shuttle solution leveraging Lyft’s Concierge API platform. RedCap, which was acquired by Solera Holdings earlier… Continue Reading
AutoNation’s Mike Jackson to Take on New Role in 2019
September 19, 2018 — After nearly 20 years at the helm of the nation’s largest dealer group, the AutoNation Mike Jackson joined in October 1999 strategically is not much different than the one he will step away from in the next few months. Jackson, 69 years old, announced earlier this morning he will step aside… Continue Reading
Cox Automotive Acquires Clutch Technologies; Creates Mobility Solutions Division
August 13, 2018 — Cox Automotive is announcing early Monday morning it has acquired vehicle subscription startup Clutch Technologies as part of the creation of its new Mobility Solutions Division. The moves are part of a restructuring that includes an ongoing intensive review of where its 34 brands and investments fit in its overall strategy…
CDK Global to Integrate Lyft Concierge into Fortellis Platform
August 12, 2018 — Sources have confirmed CDK Global will announce Monday morning it is partnering with ride hailing company Lyft to provide a transportation solution for dealership service departments to integrate into their loaner fleet programs. Lyft Business’ Concierge dispatch solution — already being used by approximately 300 dealerships — will be integrated into… Continue Reading
Hyundai Buying FCA? We Have Questions
July 2, 2018 — Late last week, the financial newsletter Capitol Intelligence Group reported Hyundai Motor Group’s CEO Chung Mong-koo is preparing a possible takeover of Fiat Chrysler Automobiles sometime before the Italian automaker’s annual shareholder meeting scheduled for May 2019. A Hyundai spokesman later called the reports “groundless” according to a report by CNET’s RoadShow.…
Carmax Pre-market Trading Up on Strong Quarterly Results
June 22, 2018 — Carmax shares are up nearly 10% and more than $6.60 in pre-market trading this morning after being down $1.72 yesterday. The jump this morning is being fueled by a strong first (fiscal) quarter in which Carmax’s earnings per share of $1.33 beat expectations by $0.09 and overall revenue of $4.79 billion… Continue Reading
