Foundation Automotive has acquired the Freestone Auto Group in Fairfield, Texas, stating that Freestone’s local roots will help Foundation expand its Central Texas footprint. Foundation, an international group with Canadian and U.S. locations, said Freestone has a long-standing history of selling Ford, Chrysler, Dodge, Jeep, RAM, Chevrolet and custom commercial trucks. Freestone, through the Service […] [Read More]

As industry experts predicted might happen, late on Friday afternoon Hertz Global Holdings announced it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. According to a news release, Hertz said the company still has $1 billion […] [Read More]

ComplyNet president and general counsel Adam Crowell recently debuted on the podcast to share how dealers are becoming more concerned about the health of their businesses than contracting the coronavirus. Crowell, who oversees the compliance solutions and risk mitigation provider that developed a system with the National Independent Automobile Dealers Association, also discussed how insurance can play […] [Read More]

Like so many individuals, TransUnion described the auto-finance industry as healthy before the coronavirus pandemic arrived in earnest more than two months ago. And in a special episode of the podcast, TransUnion senior vice president and automotive business leader Satyan Merchant described how he and fellow analysts will be monitoring auto-finance performance similarly to healthcare […] [Read More]

KAR Global got a big shot in the arm to help its operations, technology, digitization and development amid the recovery. The company announced a $550 million strategic investment Tuesday led by Apax Partners-advised funds that KAR’s chief executive says will “help us continue to support our global customers and further accelerate our digital transformation.” KAR plans […] [Read More]

The data series used by KAR Global Analytical Services goes back to 1994 — another time when Major League Baseball wasn’t being played, but for a far different reason than the current coronavirus pandemic. When KAR Global chief economist Tom Kontos and his team finalized their wholesale price information for March and April, they found […] [Read More]

This episode of the Auto Remarketing Podcast ventures into the investment world with Gina Cocking, who is managing director of Colonnade Securities, a Chicago-based investment banking firm that specializes in merger and acquisition advisory services. Cocking not only shared an assessment of the current investment landscape, she also discussed the firm’s recent examination of the […] [Read More]

Barrett-Jackson, which produces collector car and automotive lifestyle events, says it set two world collector car auction records during its online-only auction in May. Barrett-Jackson chairman and chief executive officer Craig Jackson said teaming up with NASCAR team owner Richard Childress for the sale of his original No. 3 Dale Earnhardt NASCAR race car was […] [Read More]

Digital retailing may give dealers an avenue for more efficient operations and profitability — particuarly when it comes to F&I, often a question mark in discussions around online car sales. That’s according to a dealer impact study conducted by Roadster in partnership with the National Automobile Dealers Association that surveyed 236 dealers from May 6-8 in […] [Read More]

After nearly two months of COVID-19 related ordinances and regulations, RISC acknowledged the repossession industry has not opened up in all areas, continuing to pressure recovery agency owners and their staff financially.  RISC wants to support agents during this crisis by waiving membership and education fees for current and any new RISC Pro members through […] [Read More]