In a move that became effective Sept. 1, Dealers Auto Auction Group expanded its wholesale footprint in the Southeast by entering the Atlanta market with the acquisition of VIP Auto Auction.  By adding the location at 4600 Browns Ridge Road in Cumming, Ga., DAAG now has nine locations throughout the Southeast. “We are very excited […] [Read More]

A variety of dealer groups — including Sonic Automotive, Group 1 Automotive, the Lou Fusz Automotive Network, Barnes Crossing Auto Group and Ed Morse Automotive Group — have expanded their businesses in recent days. We begin with this roundup with Sonic on Tuesday announcing the continued expansion of the EchoPark Automotive brand via the opening […] [Read More]

Last week, RISC collaborated with MBSi Corp. to deploy VendorConnect, what they called a “revolutionary” compliance management solution that can allow access to a comprehensive list of compliant, vetted third-party vendors in the repossession industry. This week, RISC announced free RISC Pro membership for new members through the end of the year. The third-party repossession […] [Read More]

In July, Autonomy finalized a partnership with EV Mobility, which provides electric vehicles on demand 24/7 as an amenity to luxury hotels as well as at multifamily apartment buildings and other commercial properties. While that Autonomy partnership focused on California, EV Mobility announced on Tuesday it recently expanded into properties in Florida, Washington and Nevada. EV […] [Read More]

Before Labor Day, America’s Auto Auction expanded its national dealer and commercial sales team. Then after the holiday weekend, the company appointed Jennifer Leocardi to be vice president of institutional sales for the combined America’s Auto Auction and XLerate Group. A 20-year industry veteran, America’s Auto Auction said through a news release that Leocardi brings a […] [Read More]

Another acquisition announcement surfaced on Tuesday, this time in the training space. NCM Associates said it has acquired Sioux Falls, S.D.-based Spader Business Management and its subsidiary, A World of Training, in a move that was effective on Aug 31. According to a news release, this action furthers NCM’s growth, diversification and client support in […] [Read More]

Inovatec Systems and TruDecision now are working together for clients in both Canada and the United States. The provider cloud-based software solutions for finance companies recently announced it has reached an agreement with the developer of artificial intelligence and machine learning-based analytics tools that can improve portfolio performance. Through this relationship, Inovatec customers will have […] [Read More]

Solera Holdings and DigniFi want to ensure customers within a dealership’s service drive have the necessary financial resources to cover vehicle repairs. On Tuesday, the vehicle lifecycle management company announced a strategic partnership with the fintech platform, as Solera will offer access to DigniFi financing options, funded by WebBank, to consumers seeking payment solutions for […] [Read More]

The notable jump in bankruptcies experts have been predicting for some time arrived in August. According to new research released from Epiq’s Bankruptcy Analytics platform, filings in August across all chapters rose 10% year-over-year, totaling … [Read More]

Auto repossessions are on the rise. Subprime repos are up 11% since 2020, according to Jalopnik. Even among prime borrowers with excellent credit scores, repossession rates have doubled from 2% to 4% in the past two years, according to Barron’s. This trend is not surprising, considering how expensive vehicles have become. The average price for […] [Read More]