Cox Automotive has doubled down on its Fleet Services business. The automotive giant, which acquired a majority stake in what was then Dickinson Fleet Services in 2020, has purchased the rest of the company from minority owners Mike Dickinson and Ted Coltrain. “This acquisition represents our steadfast commitment to the fleet industry and the opportunity […] [Read More]

Total bankruptcies in 2024 rose 14% year-over-year, but experts put the data into perspective. According to data provided by Epiq AACER, total bankruptcy filings last year came in at 508,758. That’s up from 445,286 registered in 2023. While representing a substantial year-over-year increase, experts pointed out that total bankruptcy filings remain lower than the pre-pandemic […] [Read More]

Two award-winning service providers that offer location tracking services and vehicle monitoring for dealerships and finance companies now are working together. This week, TrueSpot and PassTime announced a strategic partnership aimed at revolutionizing asset management and location tracking for the automotive industry. According to a news release, this collaboration brings together TrueSpot’s multi-patented  AQFind Location […] [Read More]

An executive whose career includes time with DriveTime Automotive and Capital One now is with Flagship Credit Acceptance. Continuing a string of industry executive moves to begin the year, Flagship Credit Acceptance on Wednesday appointed Matthew Long to be its chief risk officer. An executive with more than 25 years of automotive financing experience, Long […] [Read More]

For the first time in six months, prices in the Canadian wholesale vehicle market dipped. Canadian Black Book’s Used Vehicle Retention Index dropped to 135.7 in December, down 0.4% from 136.2 the previous month — ending a string of five consecutive months of rising or steady numbers. In July, the index broke a massive streak […] [Read More]

It’s not a surprise to find full-sized pickup trucks at the top of a list of America’s 100 best-selling used vehicles. Nor is it a shock that SUVs dominated that list. It was, however, a bit unexpected to find an electric vehicle in the top 30, and two EVs among the top 75. But that […] [Read More]

OPENLANE has sold its High Tech Locksmiths business unit to Dent Wizard, a reconditioning services provider. Dent Wizard announced the deal (which became effective Dec. 16) just before the holidays. HTL was founded in 1992 and provides locksmithing services to auto auctions, repossession agents, financial institutions, dealers and rental-car companies. OPENLANE, then known as KAR […] [Read More]

Polly is ready to ramp up its embedded auto insurance platform. The company announced it will launch its new Professional Insurance Platform during the 2025 NADA Show, coming up Jan. 23-26 in New Orleans. The revamped platform is designed to help dealerships monetize the insurance process and improve gross profits. In a news release, Polly […] [Read More]

In today’s rapidly evolving business landscape, blockchain technology stands out as a transformative force, poised to revolutionize how companies operate, interact and innovate. For stakeholders in the automotive industry, particularly in the used car market, understanding how blockchain can reshape the sector is not just about keeping pace — it’s about seizing opportunities for efficiency, […] [Read More]

After taking a month off for the holidays, Carvana is back on the Megasite track. The online used-car retailer announced plans to open its latest integrated auction/reconditioning center on the ADESA Atlanta auction site in Fairburn, Ga. Carvana’s fifth Megasite follows the launch of similar operations at ADESA Kansas City in August, ADESA Houston in […] [Read More]