The newest accolade to be handed out during Used Car Week is going to an operation that’s been a publicly traded company for 25 years. But one of the reasons Copart has been successful for that span is being able to develop technologies that serve all segments of its customer base. For that reason, Copart […] [Read More]

Get Spiffy, Inc. has purchased competitor Your Location Lubrication, a move that, along with Spiffy’s organic expansion, broadens its Fleet Management as a Service offering to 20 markets. With the purchase, Spiffy — which offers on-demand car care and FMaaS services — adds the high-volume oil change system, technicians and fleet of YLL The acquisition […] [Read More]

Cover Genius announced a major injection of funds on Thursday. The global insurtech firm whose insurance distribution platform provides protection for the customers of some of the world’s largest online companies has raised $10 million in a Series B funding round. Cover Genius said the funds will support the company’s investment in talent and its […] [Read More]

The Manheim Used Vehicle Value Index did something in October that Cox Automotive analysts determined the wholesale market metric had not done in 33 months. For the first time since January 2017, the index posted a year-over-year decline. Manheim determined wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 0.29% month-over-month in […] [Read More]

The new president and chief executive officer for Mercedes-Benz Financial Services Canada Corp., James Ryan, will head up the Canadian divisions of Mercedes-Benz Financial Services and Daimler Truck Financial. He will lead a team of 165 employees.. Ryan succeeds Stefan Karrenbauer, who in August was appointed managing director of MBFS Turkey. Reporting directly to Peter […] [Read More]

As digital wholesale platforms continue growing in Canada, Cox Automotive Canada has launched a new Canadian dealer-to-dealer digital auction platform that it says can use Manheim’s brand and physical auction services to deliver a competitive advantage to all dealers and franchises. The platform, called MUVIT, offers thousands of vehicles from coast-to-coast, according to the company, […] [Read More]

The used-car market got a bit stronger in October. Total used-car sales climbed approximately 1.4% from October 2018, according to Cox Automotive, which estimated the seasonally adjusted annualized rate for used-car sales at 39.6 million for the month. That beats the year-ago reading of 38.1 million, but is down from 39.8 million in September. However, […] [Read More]

TPC Management Co. is hitting “re-set.” While remaining in his post at TPC, chief executive and co-founder Pierre Pons is stepping down from one of his other roles — that of being ServNet Auctions CEO — at the end of 2019 after 12 years at the helm. The move, essentially, gives Pons and his team the […] [Read More]

Two operations that finance companies likely know and perhaps use their services — Dealertrack and IAA — now are working closely together. On Thursday, Dealertrack announced a new integration with IAA. The companies said bringing together two technology solutions — IAA Loan Payoff and Dealertrack Accelerated Title — will help mitigate the time-consuming process of […] [Read More]

The fourth quarter began with a double-digit climb in bankruptcies, again aided by changes in federal laws. According to data provided by Epiq Systems, the American Bankruptcy Institute (ABI) reported this week that total U.S. bankruptcy filings came in at 67,806, representing an 11% increase from the September total of 61,132 filings. Officials also noted […] [Read More]