Cox Automotive announced today it has acquired a minority interest in F&I product provider SilverRock Holdings LLC. Officials said the products will be sold through dealers affiliated with Go Financial and NextGear Capital.
Dealertrack's former CFO will lead strategic business development across Cox Automotive, including mergers and acquisitions.
Cox Automotive Canada, through its Manheim Canada operation, has acquired complete ownership of Manheim Source Edmonton. The auction will now operate as Manheim Edmonton.
The Federal Reserve voted unanimously today to increase its target funds rate by a modest quarter point. One market research firm believes that could cut into sales by 150,000 units.
Dealer.com has joined the New Bing Ads Elite SMB Partner program and expanded its relationship with the Yahoo Preferred Partner Program.
Cox Automotive announced that the Dealer.com website solution will serve as the primary solution for Cox Automotive customers. Current users of VinSolutions' website product will begin migrating to the Dealer.com platform beginning in early 2016.
Billed as a product designed to bring the F&I process into the Digital Age, F&I Connect allows dealers to promote their F&I products and prices to customers in a controlled online environment.
Following its recent acquisition of Dealertrack, Cox Automotive has appointed Dealertrack’s former co-president, Raj Sundaram, as its chief client success officer.
Dealertrack unloaded its inventory management solution today, clearing the way for Cox Automotive to complete its acquisition of the software maker. The announcement comes a day after the Justice Department challenged the merger between the two software giants.
The Department of Justice filed a civil antitrust lawsuit this week to block Cox Automotive’s acquisition of Dealertrack. The regulator said Cox must divest Dealertrack’s inventory management solution business in order to move forward with the transaction.
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