Betty C. Morrow

Automotive SaaS Firm MotorK Preps $173M IPO

MotorK, an Italian Software-as-a-Service (SaaS) company serving car dealers, is preparing to go public with an initial public offering (IPO) that could value the firm at 150 million euro ($173 million).

The company announced this week that the IPO is expected to happen before the end of the year, with MotorK listing on Euronext Amsterdam. 

Marco Marlia, MotorK’s co-founder and CEO, says the IPO will “unlock massive opportunities” for his company, its partners and its customers. 

“As a tech company with automotive in our DNA, we have worked tirelessly to build a market-leading platform and a successful growth strategy that combines organic growth with strategic acquisitions,” he said. “We believe this is just the beginning of our journey and that the runway ahead of us is expansive.” 

Founded in 2010, MotorK offers a cloud-based SaaS platform called “SparK,” which includes a suite of products designed to support “the

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Dealerships challenged by short supply and low inventory

IRONTON, Ohio (WSAZ) – Times are changing in the automotive industry where the pandemic has led to some distinct challenges.

“I think the times of having 125 to 150 cars are going to be a thing of the past,” said Joe Rozell of Glockner in Ironton.

As General Sales Manager, Rozell says he would normally have more than 100 new cars on the lot. Currently, there are 11. He says the main problem with new cars is a global micro-processing chip shortage.

“Think about the technology that’s in that little phone that you’re using. There’s a lot more in that car that’s taking you and your family to the beach,” Rozell said.

The shortage has caused production of vehicles to slow down. So when Rozell sells one, it takes a little longer to get another one back on the lot. When it comes to used cars, Rozell says they are

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Get Your Lowest Lease Quotes On The Most cost-effective New Cars At CarPriceSecrets.com

Lots of the modifications occurring in the automotive market at the moment, together with tightened credit score markets in a capital-intensive trade and increased government involvement are the latest global challenges. Within the United States, retail gross sales are often in units of therms (th); 1 therm = one hundred,000 BTU. Gas sales to domestic customers are sometimes in models of a hundred commonplace cubic toes (scf). Gasoline meters measure the volume of fuel used, and that is converted to therms by multiplying the volume by the vitality content material of the gasoline used throughout that interval, which varies slightly over time. The standard annual consumption of a single family residence is 1,000 therms or one Residential Customer Equivalent (RCE). Wholesale transactions are typically performed in decatherms (Dth), thousand decatherms (MDth), or million decatherms (MMDth). One million decatherms is a trillion BTU, roughly a billion cubic ft of natural fuel.… Read More

Chattanooga Motorcar Festival is back after one-year hiatus

Detroit might be the nation’s car capital, but for the next three days Chattanooga will be America’s automotive showroom and playground.

Up to 40,000 auto enthusiasts are expected to flood the city to attend the 2021 Chattanooga Motorcar Festival, which begins at 8 a.m. Friday downtown.

Barry White, chief executive officer of the Chattanooga Tourism Co., said the economic impact of the festival on the city has been estimated at $4.8 million.

“We expect it to be bigger and better than before,” he said. “People will be exposed to cars they may never see again in their lifetimes.”

The festival launched in 2019, but a planned 2020 motorcar festival was canceled due to the pandemic.

Organizers are taking over sections of downtown, which will become a virtual automotive theme park to benefit neuroscience research, including the search for an Alzheimer’s disease cure.

Events this year will include racing, showing

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