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Shift Announces Workforce Reductions and the End of its Investment in Dealer Marketplace
Shift recently announced that it would be reducing its headcount by roughly 34% as part of a plan from the company’s newly named CEO’s plan to review Shift’s strategic alternatives. This is the second round…
EV Sales Soar in Q2 2023
Cox Automotive recently reported that U.S. auto retailers sold a record number of full battery electric vehicles in Q2 2023. In the second quarter, 300,000 new electric vehicles were sold, which was a 48.4% year-over-year…
FordDirect Partners with CarNow
FordDirect recently announced a partnership with CarNow, a dealer retailing system, that will empower Lincoln and Ford dealerships to create more personalized and connected messaging for customers. CarNow’s services allow dealerships to engage with customers…
Colonnade advises Reynolds & Reynolds on the acquisition of Xzilon, Industry Leader of Vehicle Appearance Protection Products
July 13, 2023 The Reynolds and Reynolds Company announced today the acquisition of Xzilon, the industry benchmark for high-performance vehicle protection products. The Xzilon brand is well known in dealership F&I departments and is nationally…
Auto Credit Shrinks to 2-Year Low
In May, Cox Automotive reported that automotive credit availability was at its tightest in more than two years. Cox’s All-Loans index fell to 96.4, the lowest result since February 2021 as credit access fell 8%…
