Pushback dealerships might hear from potential vehicle-lease customers come from individuals who say that using ridesharing services could be more cost effective rather than taking on a lease contract. Well, the analyst team at Swapalease.com ran the numbers — taking into consideration that costs for ridesharing services are climbing — and recently shared an estimated […] [Read More]

Vehicle subscriptions are changing the industry landscape and developing into a viable alternative to traditional purchasing and leasing models. Vehicle subscription provider flexdrive is benefiting from that change, noting growth in an array of areas during the first half of the year. The joint venture between market leader Cox Automotive and Holman Enterprises recently shared […] [Read More]

The National Independent Automobile Dealers Association is looking to give members all the resources they need to be compliant with the state and federal regulations that oversee their retail and financing operations. As a result, NIADA recently formed a strategic relationship with ComplyNet, a provider of compliance solutions in the automotive industry, to help independent […] [Read More]

Kroll Bond Rating Agency (KBRA) announced four senior personnel changes to the teams at its New York office that monitor securitizations and the auto asset-backed securities market. According to a news release distributed on Friday, Anthony Nocera, co-head of the ABS Group, has decided to transition to a senior advisory role at KBRA. Nocera, who […] [Read More]

A new Hartford, Conn., location for Copart marks the second Connecticut site for the global online vehicle auction company. The location, formerly named Hartford-Springfield Auto Auction, provides capacity for Copart’s continuing volume growth in the region, and it means more convenience for the company’s buyers in the area, Copart chief executive officer Jay Adair said […] [Read More]

Carsharing marketplace HyreCar says it has created a new experienced outside sales team and scalable customer service infrastructure to pursue OEM and dealer opportunities. The company has hired two industry veterans with existing dealership and OEM relationships that they will use to fuel vehicle supply and “provide value for all HyreCar stakeholders,” according to the […] [Read More]

Dealer-first automotive digital retail software provider MAX Digital believes competition from non-traditional dealers has never been stronger. Because of that, providing a smooth path to purchase is a must for dealerships to thrive in the coming years. With that in mind, MAX Digital has partnered with LotVantage, and participating dealers can now combine LotVantage services […] [Read More]

The retail prices of both new and used cars in Canada was on the rise last month compared to year-ago figures, but the rate of increase is slowing down, according to the latest autoTRADER.ca Price Index. The national median price for used vehicles was $18,900 in June, up 5.1% year-over-year, while the national median price […] [Read More]

Effective Aug. 12, AutoCanada will have a new chief financial officer. The North American multi-location dealership group currently operating 65 franchised dealerships, comprised of 27 brands, in eight provinces in Canada as well as a group in Illinois, appointed Mike Borys as CFO. AutoCanada highlighted that Borys is a chartered accountant with more than 20 […] [Read More]

The Justice Department received guilty pleas from an east Texas buy-here, pay-here dealer, his wife and son in connection with a scheme to use the dealership as a cog in an illegal gambling machine that lasted more than 30 years. The trio pleaded guilty to federal violations in a case investigated by Homeland Security Investigations […] [Read More]