NextGear Capital showed it has a great interest in science, too, not just the automotive financial world. The floorplan provider that focuses on independent dealerships, in collaboration with Cox Enterprises, recently transformed an Indianapolis Public Schools (IPS) classroom into the district’s first fully-funded grade school STEM lab. The company made a $50,000 donation to outfit […] [Read More]

Asbury Automotive Group, one of the nation’s largest automotive retail and service companies, is among the automotive entities named by Newsweek as one of America’s Greatest Workplaces 2023. “This award not only acknowledges our efforts in fostering a positive and enriching work environment but also highlights the commitment and dedication of every member of our […] [Read More]

Dealers evidently didn’t rest much during the last unofficial weekend of summer since Black Book noticed the estimated average weekly sales rate at auction increased to 49%. Despite more vehicles heading for haulers and store lots, Black Book reported that wholesale prices declined another 1.40% during the week that closed on the Saturday of Labor […] [Read More]

Carvana’s campaign to codify digital auto sales and other automotive transactions into state law has recorded another win. The online used car retailer announced Oregon Gov. Tina Kotek has signed legislation that directs the Oregon Department of Transportation to adopt rules permitting vehicle dealers and financial institutions to electronically transmit documents related to vehicle ownership, […] [Read More]

With macroeconomic pressures like high interest rates and increased cost of livin, Transunion Canada is tracking the auto industry’s lending performance. Year-over-year, originations are up by just under 2%, a rise mostly driven by more used inventory coming back online. “People weren't able to ... [Read More]

E Automotive Inc. — parent company of EBlock and EDealer — has a new chief financial officer. John Rim has 25 years of experience in the industry, with the last 12 years spent working as a CFO or chief operating officer for publicly listed companies across the TSX, TSX-V and NASDAQ exchanges. “John brings a […] [Read More]

Coming off the first quarter of its 2024 fiscal year that included sales gains and “normalization” of charge-offs, America’s Car-Mart also announced on Tuesday that its board of directors has elected current president Doug Campbell to succeed Jeff Williams as CEO and to serve as a director of the company. According to a news release, […] [Read More]

ACERTUS said Tuesday it has acquired transportation and remarketing provider RCG Logistics. The move helps ACERTUS, which is an automotive logistics-as-a-service platform, expand into the salvage and repossession space and provide services to additional segments like motorsports, RVs and various oversized vehicles. The purchase is effective immediately and integrates the RCG platform under the ACERTUS […] [Read More]

Transunion’s Q2 2023 Credit Industry Insights Report shows that Canadians are continuing to take on credit to help manage cash flow as interest rates spike and the cost of living continues to rise. The number of consumers carrying a credit balance has spiked, and there has also been an increase in average balances and minimum […] [Read More]

Former Porsche Cars North America president and CEO Kjell Gruner has joined electric vehicle manufacturer Rivian Automotive as chief commercial officer and president of business growth, Rivian announced Friday. Gruner reports directly to Rivian founder and CEO RJ Scaringe and oversees the company’s commercial functions, including sales, marketing, customer care, delivery, service and fleet. Before […] [Read More]