Along with giving an update on its views of securitizations by U.S. Auto Sales, which is going through some operational turmoil, KBRA highlighted March remittance reports showed further seasonal improvement in credit performance across prime and non-prime pools during the February collection period. Analysts cited the seasonal improvement stemmed from contract holders continuing to receive […] [Read More]

After three straight months of sequential gains to begin the year, wholesale vehicle prices appear to be slowing down in April. The mid-month reading of the Manheim Used Vehicle Value Index came in at 231.7, which was off 2.7% from March and 4% from the full month of April 2022, when adjusting for mix, mileage […] [Read More]

Auto Remarketing is recognizing the 2023 Women in Remarketing honorees in the April edition of the magazine and will be posting Q&As with each of these outstanding leaders on the website. Next up is Becky Anderson, president of CARS Recon. What is the top trend you’re watching in remarketing/wholesale automotive this year? The continued changes and disruption from […] [Read More]

Ed Morse Automotive Group has expanded its Missouri footprint with the purchase of Putnam Chevrolet in California, Mo., from Bill Campbell. The store, which will be renamed Ed Morse Chevrolet, is the group’s sixth in the state. The Delray Beach, Fla.-based retailer has 37 dealerships throughout Florida, Texas, Iowa, Missouri, Illinois and Oklahoma. “When our […] [Read More]

Cherokee Media Group has launched an “NAAA 75th” series of its Auto Remarketing Podcast, which commemorates the diamond anniversary of the National Auto Auction Association. Between now and the NAAA World Remarketing Convention in late September, the show will periodically feature auction owners, association executives and other wholesale industry leaders, who will discuss what the […] [Read More]

Autotech Ventures said Thursday it has closed its third fund. The early-stage venture capital firm, which aims to tackle ground transportation challenges through technology, said the $230 million fund will be used for investments in mobility-related startups that are in seed through Series C funding stages. Autotech also announced that it has added Repair OnDemand […] [Read More]

AutoCanada has expanded its footprint in Ontario with its acquisition of Premier Chevrolet Cadillac Buick GMC in Windsor. The dealership includes 42,000 square feet of facilities on five acres, which includes a 12,000-square-foot collision center with 14 service bays. The current management team will be retained. “We are thrilled to announce the acquisition of this […] [Read More]

Crédito Real USA Finance (CRUSAFin) — whose roots stem from AFS Acceptance that began originating subprime auto financing with independent dealerships more than 15 years ago — gained new ownership this week. Bepensa Capital announced through a news release that the Mexican business group has acquired 97.64% of CRUSAFin for more than $60 million. Acknowledging […] [Read More]

This week, Advanced Dealer Solutions welcomed Bruce Osborne as general manager, bringing three decades of experience serving the F&I industry in a variety of roles since making his start in automotive retail. The full-service, dealer development agency focused on automotive, RV and powersports dealers across the United States said Osborne will be based in Springfield, […] [Read More]

Auto Remarketing is recognizing the 2023 Women in Remarketing honorees in the April edition of the magazine and will be posting Q&As with each of these outstanding leaders on the website. Next up is  Aria Tactaquin, AVP of business development at RCG Logistics. What is the top trend you’re watching in remarketing/wholesale automotive this year? As someone who […] [Read More]