Million

Cars.com to Buy Accu-Trade for $65 Million

By Betty C. Morrow 5 months ago

Automotive marketplace platform Cars.com is finalizing a deal to acquire 100% of the assets of Accu-Trade for $65 million in cash at closing, with the chance for additional cash and stock depending upon reaching particular financial thresholds.

Accu-Trade’s assets include Galves Market Data and MADE Logistics, which includes real-time, VIN-specific appraisal and valuation data, according to a press release on Tuesday (Feb. 8). Cars.com expects to make a $63 million earn-out payment, which could be higher or lower. The deal is anticipated to close in 30 days.

See also: Auto Retailers Tap Tech to Cut Risk of Finding, Buying Used Cars in Unfamiliar Places

Alex Vetter, Cars.com CEO, said Accu-Trade is the perfect company for Cars.com to jump into the “rapidly growing multibillion-dollar digital vehicle acquisition and remarketing category,” with its state-of-the-art tech for both appraisals and valuations.

“These solutions will drive better inventory management and maximize profits for dealers

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Automotive Antenna Module Market to Grow by USD 525.67 million | Technavio | State

By Betty C. Morrow 5 months ago

NEW YORK, Feb. 3, 2022 /PRNewswire/ — The latest automotive antenna module market report by Technavio infers that the increasing connectivity technologies in vehicles is driving this market’s growth, resulting in market growth of USD 525.67 million from 2020 to 2025. 

Read additional information about the market. Get FREE sample report.

The automotive antenna module market report covers the following areas:

Vendor Landscape

The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market. Amphenol Corp., ANTONICS-ICP GmbH, Continental AG, HARADA INDUSTRY Co. Ltd., Kymeta Corp., Laird Plc, Lorom Industrial Co. Ltd., Schaffner Holding AG, Taoglas Group Holdings Ltd., and TE Connectivity Ltd. are some of the few key vendors competing to maintain their market position in the market.

View more about the market’s vendor landscape highlights with a comprehensive list of vendors

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HAGERTY AUTOMOTIVE INTELLIGENCE REFRESHES VALUATION WEBSITE; PREDICTS $211 MILLION IN UPCOMING CLASSIC CAR AUCTION SALES

By Betty C. Morrow 5 months ago

Popular vehicle valuation website serves 3 million enthusiasts yearly

Published: Jan. 26, 2022 at 12:49 PM CST|Updated: 22 hours ago

TRAVERSE CITY, Mich., Jan. 26, 2022 /PRNewswire/ — On Monday, Hagerty, Inc., (NYSE: HGTY) launched a refreshed version of its popular Valuation Tools website. The resource, launched in 2011, receives significant design, navigation and data frequency updates. Car lovers can enjoy the new experience at www.hagerty.com/valuation-tools.

Courtesy of Hagerty Media
Courtesy of Hagerty Media(PRNewswire)

Hagerty Valuation Tools provides current and historic pricing data on more than 40,000 collectible cars, trucks, SUVs and motorcycles. With Hagerty Price Guide (HPG) values dating from 2006 and approximately 400,000 comparable auction sales spanning decades, the tool has become the go-to source for enthusiast market research. Key updates to the new Hagerty Valuation Tools experience include:

  • Design refresh emphasizes the most important market data for shoppers
  • Navigation refinement – including free-form, text search –
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Car Capital scores $150 million in backing for its instant car loan approval technology

By Betty C. Morrow 6 months ago

A large New York private equity firm is providing a $150 million credit line over the next three years to a Grapevine startup that makes it easier for auto dealers to make instant vehicle loans, regardless of credit history.

Car Capital announced the “milestone transaction” Tuesday with affiliates of Fortress Investment Group. Fortress also is investing over $6 million in the company.

The equity and debt investments will let Car Capital fund more dealers and “underserved consumers” wanting to buy vehicles, according to the company. Its proprietary Dealer Electronic Auto Loan System allows dealerships to instantly approve 100% of customers.

“We are very pleased to partner with Fortress, [which] has a long history of providing capital to fintech and automotive companies,” Car Capital co-founder and CEO Justin Tisler said in a statement.

Fortress Investment Group, founded in 1998, had more than $54 billion in assets under management as of Sept.

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