Two service providers involved with repossessed vehicles now are working together. Strategic Remarketing Services (SRS), a provider of repossession and remarketing services, recently announced that its platform will be integrated with MeridianLink. The companies said the integration can allow finance companies to more efficiently and securely share data between SRS’s business and MeridianLink to drive […] [Read More]

The Federal Trade Commission said late Tuesday that it took enforcement actions against Vroom for misrepresenting that the retailer thoroughly examined all vehicles before listing them for sale. The FTC also said Vroom failed to obtain consumers’ consent to shipment delays or provide prompt refunds when cars weren’t delivered in the time the retailer promised. […] [Read More]

NextGear Capital president Scott Maybee addressed a question that dealerships likely have been wondering, too, as they examine their floorplan expenses and other operational matters. What if interest rates never drop much below where they currently are? Maybee shared his response and more for this episode of the Auto Remarketing Podcast recorded in Las Vegas […] [Read More]

Insurance coverage is becoming a more complicated part of vehicle delivery and financing. Some findings from the 2024 U.S Auto Insurance Trends Report generated by LexisNexis Risk Solutions might illustrate why. This report aggregated annual market data about consumer driving patterns, auto insurance shopping trends, claim frequency and severity, and consumer responses to rate increases […] [Read More]

Meet the 2024 honorees in Cherokee Media Group’s “Women in Retail” program, presented by CarGurus. With these awards, we specifically recognize top leaders on the retail side of the auto industry, including honorees from dealerships, dealer groups and third-party providers/vendors. The July issue of Auto Remarketing includes full Q&A profile features with these honorees, who […] [Read More]

While automotive recalls in the second quarter of 2024 declined significantly from Q1, the total number of recalled vehicles for the year has soared past 14 million, according to the latest quarterly recall report from recall management platform BizzyCar. The report, which analyzed data from the National Highway Traffic Safety Administration and U.S. Department of […] [Read More]

Tesla is beginning to experience what older automakers have seen happening for decades. It’s the phenomenon when the price point for a used model is quite attractive to a buyer versus a similarly equipped new one. Let’s get into the numbers shared by Tesla as well as Cox Automotive and Edmunds. Tesla reported on Tuesday […] [Read More]

Group 1 Automotive has grown its presence in the U.K., with the acquisition of four Mercedes-Benz dealerships from L&L Automotive. The dealerships are located north of London in the county of Hertfordshire and are contiguous with several other Group 1 dealerships in the U.K., the company said. The newly acquired stores are expected to sell […] [Read More]

One of Canada’s largest dealership groups keeps on growing. AutoCanada’s latest acquisition is Nurse Chevrolet Cadillac, a dealership and collision center in Whitby, Ontario, purchased from Mary Nurse. The deal gives AutoCanada 23 dealership locations and 10 collision centers in Ontario, and its first presence in Whitby. In all, the company operates 85 franchised dealerships […] [Read More]

APCO Holdings began the second half of the year getting back in the acquisition game. On Monday, the provider and administrator of automotive F&I products and home to the EasyCare, GWC Warranty and Crystal Fusion brands announced it has made two more acquisitions, adding to the move made earlier this year and four others in […] [Read More]