While a pair of bankruptcy experts chose to focus on the commercial side of the segment after looking at March filings, overall and individual filings rose again last month, potentially reinforcing what a Prosper Marketplace consumer survey highlighted. According to data provided by Epiq AACER on Thursday, total bankruptcy filings came in at 50,189 in […] [Read More]

Sure, technology is rapidly advancing in the automotive retail and lending industries, but this evolution has also brought about new challenges in cybersecurity. The ransomware event in the summer made many headlines, and since then the entire industry is taking a closer look at digital security. Even with this increased awareness, an online survey conducted […] [Read More]

If it took some extra finagling to get your contracts bought during the first quarter — especially in connection with new vehicles — the latest financing data from Edmunds might support the reasons why. While the metrics for used-car financing remained relatively stable in Q1, Edmunds spotted volatility on the new-car side, with 84-month contracts […] [Read More]

For the first time in three years, Canadian used-car wholesale values rose during the week ending March 29 – though just barely. Canadian Black Book’s weekly Market Insights report showed the overall market inched up 0.01% for the week, its first week-over-week gain since March 25, 2022. Twelve vehicle segments were on the plus side, […] [Read More]

Black Book said overall wholesale values didn’t accelerate higher as much last week as they did earlier in March. However, analysts said those gains are still above pre-pandemic levels of appreciation for this time of year. And then this week, the Trump administration implemented the 25% tariff on all imported vehicles into the U.S., prompting […] [Read More]

Auto transport and logistics provider Proficient Auto Logistics has acquired Brothers Auto Transport, a move the company said is intended to expand its fleet and base of drivers, and strengthen its presence in Northeastern markets. Brothers, founded in 1996 and based in Wind Gap, Pa., adds new OEM partnerships to Proficient’s portfolio and expands existing […] [Read More]

CarMax’s credentials as an employer are hard to argue with. The national used-car retailer has added another accolade in that area this week, as Fortune magazine and Great Place To Work have named CarMax as one of the 100 Best Companies to Work For in 2025  — the 21st consecutive year it has earned that […] [Read More]

Another Megasite is on the way. Carvana announced its seventh combined auction/reconditioning/inspection facility will be opening soon at the ADESA New Jersey wholesale auction location in Manville, N.J. “By integrating Carvana reconditioning capabilities at ADESA New Jersey, we are using our existing infrastructure to drive new customer benefits while also increasing our total production capacity […] [Read More]

AutoNation’s already formidable presence in the Denver market has grown again. The nationwide auto retailer said it has acquired Groove Ford and Groove Mazda in suburban Englewood, Colo., from Summit Automotive Partners. With the new additions, AutoNation now operates 22 locations in Colorado, mostly concentrated in the Denver metro area. The new stores are the […] [Read More]

Within a month of rolling out a tool designed to automatically verify lienholder changes, MBSi introduced another solution aimed at improving processes associated with vehicle repossessions. MBSi highlighted that this new tool — Smart Invoicing — was designed in collaboration with repossession agencies to solve structural industry invoicing challenges. The company indicated Smart Invoicing can […] [Read More]