Tuesday, May. 31, 2022, 03:04 PM CarNow, a digital retailing provider in the auto industry, has named a chief financial officer. Hired for the role is Tim O’Toole, whose background includes CFO roles with RapidMiner, Yotta, Dyn and Rapid7. O’Toole’s experience also includes time on the senior leadership team at BladeLogic. “Having known Tim for nearly 20 years, I am excited for the strategic leadership he brings to our organization and am thrilled to welcome him to the team,” CarNow chief executive officer Andy Park said in a news release. “Tim was instrumental in our initial public offering and eventual […]

A defective battery pack caught fire over the weekend at the Rivian Automotive Inc. plant in Normal, Ill., leading to the evacuation of the portion of the plant where battery packs are tested for the automaker’s electric vehicles, Electrek reported Tuesday. The cause was under investigation. According to the Normal Fire Department, firefighters arrived at the plant at 10:38 a.m. Saturday, where they found a battery pack in thermal runaway — meaning it had overheated and caught fire. “Firefighters connected hoses to standpipes inside the building and extinguished the battery pack fire and then continued to flow water on the […]

Auto Remarketing has added a twist to our 40 Under 40 program. The program will now feature two separate awards: “Dealers Under 40,” which is sponsored by CARFAX and focuses exclusively on leaders from auto dealerships; as well as a 40 Under 40 for the overall industry, which will focus on the consignors, auctions, auto finance, vendors, tech companies, associations and other players within the used-car space. The dealer honorees, which will be featured in the upcoming June issue of Auto Remarketing, can be found below: Mo Abed of Car N Go Auto Sales Ashley Andrews of Barbour Hendrick Honda  Ryan Boehne of […]

Marelli Holdings Co., the auto supplier seeking to renegotiate its debt, selected current owner KKR & Co. as its sponsor in order to restructure the business. Hiroshi Watanabe, a spokesman for Saitama, Japan-based Marelli, confirmed the decision following a meeting with creditors on Tuesday. The company later issued a statement saying that a selection committee “concluded that the bid received from KKR is best suited to help Marelli restructure its financial position and revitalize its business.” As part of the turnaround plan, Marelli is seeking the cancellation of about 450 billion yen ($3.5 billion) in debt, out of obligations of […]

INVERS: How to address challenges and opportunities in moped sharing Key Takeaways: The more options, the better. Moped sharing fills in the gap for middle-distance trips. But overcoming challenges related to infrastructure (ie: on-street charging, curbside parking) and profitability (ie: city fees, permits) need to be addressed on both the city and operator level to make moped sharing work in North America. New safety measures from Revel have decreased crashed rates by 50% from June to September. Addressing user behaviour is key to creating safer riders. There has been a growing demand for long-term rentals due to people prioritizing health […]

KBB.com Names 10 Most Awarded Cars, Brands of 2019 The 2019 Jeep Wrangler earned the top spot among vehicles and Honda leads all manufacturers in Kelley Blue Book’s latest internal awards program-based rankings. Read More