Cherokee Media Group senior editors Joe Overby and Nick Zulovich welcomed their newest teammate, Andrew Friedlander, for this installment of the Auto Remarketing Podcast recorded in Las Vegas at the 2023 NIADA Convention. The trio recapped some of the most interesting developments that surfaced at the event as well as looked ahead toward Used Car […] [Read More]

The third development of the Federal Trade Commission’s investigation and lawsuit against Kole Consulting Group and its owner, Daniel Kole, and some of the defendants running American Vehicle Protection (AVP) became public this week. The newest proposed court order in the case — which the defendants have agreed to — includes the bans from extended […] [Read More]

FINN, an auto subscription company based in Munich, Germany, and New York, has signed a 25 million euro ($27.2 million) asset-backed facility with Avellinia Capital. The facility complements FINN’s existing asset-backed securitization program, effectively increasing the advance rate from 95% to 100%. FINN has now secured more than $1 billion of debt and leasing facilities […] [Read More]

The McConkey Auction Group is expanding. And this time, it’s through an all-new greenfield location. The auction group announced Thursday that it has launched MAG Alaska, a hybrid auction located on four acres in Anchorage. The location includes a 300-unit consignment lot, test track and vehicle inspection services. Vehicles are actually sold through the company’s […] [Read More]

Michigan-based Victory Automotive Group has acquired C&C Toyota and C&C Chrysler Dodge Jeep Ram in Marietta, Ohio, broker Blair Sharpe of the Tim Lamb Group announced. The dealerships are now known as Victory Toyota Marietta and Victory Chrysler Dodge Jeep Ram Marietta. The dealerships include 12,480 square feet of office/showroom space plus a collision center […] [Read More]

We’re only a few days into the second half of 2023, and the pace of mergers and acquisition continues to be strong. The latest one surfaced Thursday, as Safe-Guard Products International, a provider of branded protection products for the automotive, RV, powersports and marine industries announced it has acquired Dealer Solutions and Design (DSD) based […] [Read More]

Minutes from the June meeting of the Federal Open Market Committee showed the Federal Reserve sees how an official recession could surface later this year. And getting that retail installment sales contract bought by your dealership’s network of finance companies is likely part of the scenario drawing the attention of policymakers. According to the Fed’s meeting minutes ... [Read More]

Canada is not sold on electric vehicles, according to the latest study by J.D. Power. The second annual J.D. Power Canada Electric Vehicle Consideration Study found 66% of Canadian consumers said they are “very unlikely” or “somewhat unlikely” to consider an EV for their next vehicle purchase. That 34% consideration rate is a significant drop […] [Read More]

AutoVerify, Equifax Canada and TD Auto Finance teamed up to ease a critical pain point expressed by consumers: Uncertainty about what they can afford to spend on a vehicle. On Thursday, the companies released AV Pre-qualify, which can allow users to determine the amount they can borrow and also see if they qualify for an […] [Read More]

Like many of us, the Black Book team celebrated the Fourth of July on Tuesday, so its newest installment of Market Insights appeared on Wednesday, giving analysts the chance to compile their data wrapping up June and glimpsing into the first day of the new month. What Black Book found was all 22 vehicle segments […] [Read More]