Along with handing out six industry awards, the American Recovery Association elected new board leadership during its annual convention last week in Reno, Nev. And there is a new president of the association, as the membership elected Todd Case of Indiana Recovery Services. After serving as president for more than three years, Vaughn Clemmons of […] [Read More]

Having taken his final bow two months ago, Paul Antony has bowed out. The now-former AutoCanada executive chairman has stepped down from that role as chief financial officer Sam Cochrane takes the reins as interim CEO. Cochrane joined AutoCanada as CFO in June 2024. His resume includes almost 20 years of experience in the financial […] [Read More]

EPIC gained an amount of funding that might prompt someone to say that’s “epic.” The financial technology company wanting to transform how the automotive industry manages the loan payoff and title release process announced on Tuesday it has raised $10 million in Series A funding. According to a news release, the round was led by […] [Read More]

Car IQ, a provider of vehicle-based payment technology, announced on Wednesday that Car IQ Pay is now accepted at more than 1,400 EG America fueling locations nationwide, including Cumberland Farms and nine other convenience store brands. This partnership expands Car IQ’s rapidly growing merchant network and enables fleets to make secure, cardless payments directly from […] [Read More]

Along with slowing originations, the latest edition of CreditGauge by VantageScore showed delinquencies throughout the credit market are on the rise. Analysts reported on Tuesday that overall credit delinquencies edged higher in September, with delinquencies 30 to 59 days past due moving to 1.13%. That’s up from 1.02% in August. VantageScore said these early-stage delinquencies […] [Read More]

Lender Compliance Technologies (LCT) welcomed an experienced auto-finance executive to its board of advisors. The provider of compliance solutions for managing F&I product refunds reinforced this board with Craig Sims, who currently serves as chief revenue officer at Arra Finance. LCT said Sims will leverage his more than two decades of experience in the automotive […] [Read More]

If you want to keep up with these Joneses, it’s going to cost you a lot. Danny and Gail Jones, owners of Maryland-based Jones Junction Automotive Group, have pledged to donate $20 million to the University of Maryland Upper Chesapeake Health. The donation will be the largest single contribution in the hospital system’s history and […] [Read More]

ServNet Auction Group has a new president. The network of independent auto auctions said it has chosen Cody Boswell of Missouri Auto Auction to lead the group. As ServNet president, Boswell succeeds Ryan Clark, who has completed his term and will continue to serve as the group’s chairman of the board. “Congratulations to Cody on […] [Read More]

Retail My Ride has added three free tools to its dealer resource platform. The auto retail consignment sourcing platform announced the launch of the new interactive tools, which it said are designed to help dealers “model, measure and master” a dual-path private party acquisition model, offering both purchase and consignment options to private-party sellers. The […] [Read More]

Two major dealership groups continued on familiar paths in the M&A market with a major acquisition and a major divestiture. Lithia & Driveway, which has been actively adding locations all year, has brought three more into its collection with the purchase of Anaheim Hyundai, Huntington Beach Hyundai and Garden Grove Hyundai in Orange County, Calif., […] [Read More]