AuSM Staff

Car-sharing start-up HyreCar sought to generate $10.5 million via an initial public offering deployed in early June. The company surpassed that goal by more than $2 million On Friday, the company announced the closing of its IPO of 2,520,000 shares of its common stock at a price of $5 per share. HyreCar has received... Read More

AuSM Staff

Two partners in retention marketing and retention plans have come together to provide dealership prepaid maintenance plan and loyalty rewards customers a speedier service check-in experience that helps advisers yield more time for additional customers. The provider of prepaid maintenance (PPM)... Read More

AuSM Staff

This week, Carfax welcomed a unanimous decision by a three-judge panel of the United States Court of Appeals for the Second Circuit upholding the ruling of the District Court to dismiss a lawsuit filed against Carfax by Maxon Hyundai Mazda and approximately 470 dealers. Carfax said the Court of Appeals agreed that the... Read More

Arlena Sawyers , Correspondent

Michael’s Auto Plaza in East Greenbush, N.Y., accepts bitcoin — a perhaps more well-known, but still very little understood cryptocurrency — as payment for vehicle purchases. The reason is simple, said Michael Severance, the used-car store’s sales manager. If his customer has bitcoins and... Read More

Flexdrive expands into Florida

AuSM Staff

Flexdrive announced Wednesday that the Florida Fine Cars dealerships will be using the car subscription and technology provider’s platform for its AmeriDrive vehicle subscription service in South Florida. The program will be available at the independent dealership’s four stores in Hollywood, Margate, Miami... Read More

AuSM Staff

An Ann Arbor, Mich.- based startup building self-driving vehicles launched a new partnership in the heart of downtown Detroit to start transporting passengers in electric-powered shuttles among other cars, cyclists and pedestrians Wednesday. Following a successful pilot run of its electric self-driving... Read More

Roadster raises $15 million, doubles funding

Joe Overby, Senior Editor

Roadster has more than doubled its funding. The dealership commerce solutions provider said Wednesday it has secured $15 million of funding in a round led by existing investor Costanoa Ventures, bringing its total money raised to nearly $30 million. Roadster plans to use the funds to continue scaling operations,... Read More

AuSM Staff

Maryann Keller — who will be among the keynote speakers at the Automotive Intelligence Summit next month in Raleigh, N.C. — has joined the advisory board of transportation-focused venture capital firm Autotech Ventures, according to an announcement distributed on Tuesday. Autotech Ventures launched its first... Read More

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