Used-vehicle sales across the industry may move down sequentially this month, but the seasonally adjusted annualized rate should maintain, according to a forecast released Thursday by Edmunds.  The company is calling for 3.3 million used-car sales this month, following April sales of 3.4 million used units and 10.2 million in the first quarter. Meanwhile, ALG is […] [Read More]

Flexdrive is now a joint venture.  Cox Automotive has entered into a joint venture with Holman Enterprises that, essentially, takes its Flexdrive vehicle subscription platform from an incubator to the mainstream, the company explained Thursday. With the joint venture, each will have a 50-percent ownership stake in Flexdrive, a business model that was created at Cox […] [Read More]

Canadian auto lenders who don’t want to miss out on a dealer’s business are wise to, well, helping to make sure that the dealer doesn’t miss out on business because of the inability to get the shopper financed. While that may sound simple, the J.D. Power 2017 Canadian Financing Satisfaction Study finds that the happiest […] [Read More]

Copart recently announced a new agreement with Promutuel Insurance, which provides coverage across the provinces of Quebec and New Brunswick, allowing Copart Canada to better serve the Eastern Canada market and expand its footprint throughout the region. “We are thrilled to welcome Promutuel Insurance. This agreement gives us more diversity and coverage in the Eastern […] [Read More]

Westlake Financial Services this week finalized a partnership with eOriginal in an effort toward what the companies classified as the path to digitally transform the finance companies' dealer management system into an eContracting solution. The move is geared to improve the customer experience, and increase efficiency and accuracy, while accelerating the financing process from days […] [Read More]

This week, mobile collections and payments app provider Payix announced that Priscilla Zarate has joined the company’s executive team as its finance & accounting leader. In this role, Zarate will serve as the firm’s controller and lead the financial planning, accounting and payment processing functions, reporting directly to Payix president Chris Chestnut. Zarate has worked […] [Read More]

During this week’s National Conference hosted by the National Alliance of Buy-Here, Pay-Here Dealers, Spireon mingled with hundreds of dealers and rolled out the latest version of its GoldStar GPS solution, offering dealers and finance companies that specialize in deep subprime underwriting what the provider says is an easy and efficient approach to mitigate risk […] [Read More]

The National Auto Auction Association said Wednesday that its campaign with the Massachusetts Independent Automobile Dealers Association to raise $100,000 for the victims of the fatal crash at Lynnway Auto Auction earlier this month has almost reached its goal.    NAAA, which said $76,775 has been raised so far, urged people to make donations. The […] [Read More]

Insurance Auto Auctions recently announced the expansion of both its Savannah and Tifton facilities in Georgia, two of its seven locations in the state. "The Savannah and Tifton expansions advance our pace of proactive operational growth in this important marketplace to better serve our loyal base of buyers and sellers," IAA chief executive officer and […] [Read More]

In yet another major purchase officially announced Wednesday, Experian Automotive confirmed in a blog post by its president that it has acquired String Automotive. The purchase was first reported by The Banks Report earlier this week. “Today is a great day for Experian and our automotive clients,” Experian Automotive president John Gray said in a blog post […] [Read More]