Buy-here, pay-here dealers might be seeing vehicle shoppers fresh off a bankruptcy filing if they haven’t already. According to data provided by Epiq Bankruptcy, there were 217,420 total bankruptcy filings during the first six months of 2023, representing a 17% increase from the 185,352 total filings during the same period a year ago. Epiq reported […] [Read More]

The Policaro Group announced it has broken ground on a brand new Policaro Acura site, as well as a new facility for its Northwest Lexus relocation. The dealer group is calling its new Acura facility especially “innovative”, designed to further modernize the auto industry and brand name in Canada. Policaro Acura turned 35 in 2022, […] [Read More]

Used-vehicle sales are likely in for a somewhat bumpy ride in the second half of 2023, with interest rates and high prices putting downward pressure on pre-owned, according to the “Mid-Year Update & Intelligence Report” from CarGurus. But there was reason to be hopeful when looking at the used-car data from June. In its analysis, […] [Read More]

Dealership buy-sell veteran Nate Klebacha has been named managing director of The Presidio Group LLC, an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors. Klebacha will focus on Presidio’s dealership mergers and acquisitions business. In his 20-year career, Klebacha has been involved […] [Read More]

Digital automotive marketplace CarGurus has appointed Manik Gupta, a 25-year veteran of the technology sector, to a newly created seat on its board of directors and audit committee. Gupta is currently corporate vice president of Microsoft Teams, which serves more than 300 million users among enterprises, small and medium businesses, consumers and the developer ecosystem. […] [Read More]

Lotlinx, a VIN-specific data platform for inventory management, has expanded its executive team with four hires in the first six months of 2023. Alison Yesilcimen is now the company’s chief revenue officer, Fabian Macken was hired as senior vice president and chief customer officer, Carla Wade is on board as senior vice president of business […] [Read More]

The investment world could generate quite an explosion with the amount of “dry powder” that’s available, according to Bain & Co. On Monday, the firm released its Private Equity Midyear Report 2023. Bain said that after four quarters of relative inactivity, investors have ample incentive to get moving. With the clock ticking on a record […] [Read More]

NETSOL Cloud Services, a provider of cloud-based solutions and a division of NETSOL Technologies, announced that it has been awarded the AWS Lambda Service Delivery designation by Amazon Web Services (AWS). The company highlighted this recognition acknowledges NETSOL Cloud Services’ expertise and successful implementation of AWS Lambda, enabling organizations to build and deploy scalable serverless […] [Read More]

Carleton announced the promotion of Tonya Hardisty on Monday, elevating her to be director of client success. Hardisty has been in a managerial role at the provider of compliant financial calculations and lending document generation software since 2005. In this new role, Hardisty will lead the support team that oversees all of Carleton’s clients that […] [Read More]

Dealers who use NextGear Capital as their floorplan provider now can utilize the company for their retailing and F&I endeavors, too. NextGear Capital collaborated with Titan Warranty Administration and announced a custom-built retail vehicle protection program aimed at helping independent dealers be more profitable and competitive. Titan Warranty Administration’s Maximum Vehicle Protection Program (MVP Program) […] [Read More]