TrueCar co-founder Scott Painter will return to the CEO position he left in 2015 after leading an effort to acquire the company in a $227 million deal with Fair Holdings Inc. +
Edmunds reports the average amount owed on upside-down car loans reached a new record of $6,905 in the third quarter as more new car buyers traded in vehicles burdened by negative equity. +
Despite tightening among captive finance companies, the Credit Availability Index was essentially flat on a month-to-month basis in September, ticking back up to July’s 98.1 mark after falling by 0.2% in August. +
Martin D’Amato has been sentenced to seven years in state prison for stealing $1.3 million from the New Jersey dealership where he served as internet director. +
Commercial vehicle dealers tell Equipment Finance News’s Quinn Donoghue that AI is moving the needle at their stores by helping their sales teams work smarter and faster. +
Ford has followed General Motors by unwinding a program intended to claim expiring $7,500 federal EV tax credits for future customers under pressure from U.S. Sen. Bernie Moreno. +
GoTo’s new Connect AI Receptionist was designed to automate dealership sales and service scheduling by handling routine questions, setting appointments and balancing service demand. +
A successful test run at a Texas Hyundai store preceded the nationwide launch of D.A.I.V.E., a new AI agent designed to connect with and assist car shoppers walking dealership lots. +
Executives say increased financing options with familiar partners will help Amazon-partnered Hyundai dealers reach more used car buyers and sell more F&I products. +
GM tells Bloomberg the factory will replace the expired $7,500 federal EV tax credit with $6,000 in “lease support” cash following unrelated reports of a similar move at Stellantis. +
