Lotlinx co-founder Jason Knight has been named the company’s new CEO. Knight replaces Len Short, who will focus exclusively on overseeing product development strategies for the VIN-specific inventory management platform. In a news release, Lotlinx said Knight’s promotion is part of a longstanding succession plan that began with the formation in 2021 of a six-member […] [Read More]

Copart has a new leader. The online auto auction platform’s board of directors has appointed Jeff Liaw, who has been serving as co-CEO since March 2022, as the sole CEO and a member of the board, effective April 1, as longtime CEO Jay Adair steps aside into the new role of executive chairman. Adair was […] [Read More]

We turned out clocks ahead on Sunday and spring officially arrives on the calendar next week. As far as the auction climate, Black Book said spring is in full swing, in part because 32% of vehicle segments generated a rise in value last week. All told, analysts reported wholesale prices edged just 0.05% lower and […] [Read More]

Auto auction giant ADESA announced leadership changes at four of its locations, with new general managers at the helm in Orlando, Tampa, Minneapolis and Shreveport, La. Rod Thompson has joined ADESA Orlando as GM after nine years with the company, beginning in 2015 as dealer sales and service manager of ADESA Tulsa. He was promoted […] [Read More]

Group 1 Automotive has added another location to its collection — this one in the resort area of Hilton Head, S.C. The dealership group announced the acquisition of Modern Classic Motors, which includes Mercedes-Benz, Sprinter and Honda franchises. The acquisition, which gives Group 1 17 Mercedes-Benz franchises and 13 with Honda, is expected to generate […] [Read More]

TD Bank’s TD Auto Finance arm recently named Christopher Nabeta the director of OEM sales and strategy for Canada. Nabeta has been in the position since February, after spending the better part of 2023 focusing on ... [Read More]

One of the steadiest economic trends currently out there is the rise in bankruptcy filings. Epiq Bankruptcy reported total filings came in at 39,014 in February, representing a 22% year-over-year rise. Experts said February also marked 19 consecutive months that total, individual and commercial bankruptcy filings have registered monthly year-over-year increases. “Once again individual and […] [Read More]

The retail used-car market, including the certified pre-owned segment, showed some real strength last month, improving from both year-ago and January figures. This after what appeared to be sluggish start to 2024. Citing data from its vAuto business unit, Cox Automotive estimated that used-vehicle retail sales in February climbed 18% month-over-month and 5% year-over-year. The […] [Read More]

The International Automotive Remarketers Alliance announced the organization is undergoing a brand update. The new branding will be unveiled during the welcome reception of the annual CAR Conference, coming up March 26-28 in Phoenix. The alliance said the rollout will continue throughout the summer and is scheduled to be completed by IARA’s Summer Roundtable, set […] [Read More]

Toyota Motor Corp. once again rules the roost when it comes to resale value, sweeping top honors in both brand categories of Kelley Blue Book’s 2024 Best Resale Value Awards for the third consecutive year. The automaker’s signature brand, Toyota, won the top prize of Best Resale Value: Brand, and its sibling, Lexus, again earned […] [Read More]