Copart has signed a definitive agreement to acquire ACV in a deal valued at approximately $1.9 billion. Under the agreement, which was announced Thursday afternoon, Copart would acquire all outstanding shares of ACV common stock for $10.50 share in cash, representing implied equity value of $1.9 billion. Adding ACV gives Copart a “new growth vector,” […] [Read More]

Tuesday marked the beginning of Nasi Jazayeri as chief executive officer of LeadVenture, which serves as a digital partner for 40,000 dealerships and service centers. According to a news release, Jazayeri succeeds Tim MacDonald, who is transitioning to an advisory role and will continue to serve on LeadVenture’s board of directors. Jazayeri joined LeadVenture after […] [Read More]

What happened during thousands of introductory conversations with automotive industry stakeholders germinated into the new name for AutoAp. This week, the provider of auto recall information and safety recall services announced it has changed its name to The Recall Company. Originating during those initial stakeholder meetings, president Mark Allen explained the new name more accurately […] [Read More]

The American Financial Service Association spotted that “long-awaited” regulations from the IRS and the Treasury Department involving the auto-loan interest deduction were published in the Federal Register this week. According to the 31-page document, the regulations go into effect on Nov. 9 regarding the deduction for certain taxpayers for an amount up to $10,000 of […] [Read More]

To say the future of America’s Car-Mart is bleak might be an understatement based on results and explanations the company shared this week stemming from the first quarter of its 2027 fiscal year. And the update included the acknowledgment that the buy-here, pay-here dealership company might not even be in operation unless its situation significantly […] [Read More]

Missouri-based Clement Auto Group has expanded to Ohio with the acquisition of Mansfield Motor Group, according to a news release from Performance Brokerage Services. Mansfield is a family owned three-rooftop Honda, Nissan and Volvo group based in Mansfield, Ohio, and led by Dirk Schulter and Brett Schulter. Clement Auto Group, based in the Greater St. […] [Read More]

Here’s a misconception: Shipping electric vehicles is a lot different than shipping gasoline vehicles. “In reality, the process is … nearly identical,” said Chris Velazquez, vice president of sales at Montway Auto Transport. Velazquez, however, notes one main difference: vehicle weight. The dimensions of a gasoline-powered Honda CRV are about the same as a CRV […] [Read More]

From Sept. 28 through Oct. 1, the NAAA World Remarketing Convention will return to Seattle after over 20 years. According to National Auto Auction Association president Eddie Lafferty, bringing the event, which will be held at The Westin Seattle, back to the city is the perfect setting for a gathering that focuses on the auto […] [Read More]

After an initial focus on electric vehicles, Autonomy said Wednesday it is adding gas-powered vehicles to its car subscription platform, starting with a range of Ford models. Those include the gas-powered Mustang, Ranger, F-150, Bronco Sport, Escape and Explorer. Los Angeles-based dealer Galpin Motors provided vehicles for this first phase of gas-powered cars on the […] [Read More]

On Wednesday, KBRA released research examining state-level auto loan asset-backed securities performance across the U.S., recapping three key takeaways in a news release. Those top findings included: —The Southeast reported the greatest credit stress, accounting for four of the five highest 60-day delinquency rates during the first half of this year. That quartet included Mississippi […] [Read More]