Group 1 Automotive said Monday it has purchased three dealerships and a collision center in Shreveport, La., from Holmes European Motors. The stores include Mercedes-Benz, Sprinter, Land Rover, Jaguar and Volvo franchises, adding to Group 1’s existing portfolio in the city, which include Ford and Lincoln franchises. Group 1 expects the dealerships will generate annual […] [Read More]

In this episode of the Auto Remarketing Podcast, EBlock chief executive officer Jason McClenahan returns to the show, this time for an in-person interview at Canada's Used Car Week last month at the Westin Harbour Castle in Toronto. Jason and Cherokee Media Group senior editor Joe Overby talk about EBlock's expansion and much more. To […] [Read More]

Montway Auto Transport reinforced its leadership team on Tuesday with an executive to oversee the company’s business segment used to serve private individuals. The third-party logistics brokerage announced the hiring of Erin Almand as vice president of moving and relocation. In this role, Montway said Almand’s focus will be to develop long-term relationships with its […] [Read More]

For those who enjoy spring more than summer, the certified pre-owned vehicle market this year is kind of like the weather in the South. It “peaked in April” and just got worse from there, according to a report Tuesday from Cox Automotive. There were 205,924 CPO sales in June, compared to … [Read More]

Black Book acknowledged, “last week kicked off the Fourth of July holiday, bringing us into Q3, and the lanes were a lot slower than normal.” Furthermore, analysts said rate of depreciation accelerated with wholesale values registering the largest single week decline since … [Read More]

On Tuesday, Work Truck Solutions released its second quarter ComTrend Analysis of new and used commercial vehicles. Although there are still many supply chain challenges in the industry, Work Truck Solutions noted certain positives for operators who need these workhorses. Looking at the used market, Work Truck Solutions reported the median mileage for used vehicles […] [Read More]

The newest data and analysis from Kroll Bond Rating Agency (KBRA) might be reinforcing the observations and comments made by finance company executives and repossession agents during the North American Repossessors Summit a little less than a month ago. KBRA reported that June remittance reports showed softening credit performance across securitized prime and non-prime auto […] [Read More]

Subprime Analytics president Ken Shilson appeared again on the Auto Remarketing Podcast to discuss what he thinks is one of the most important operational challenges buy-here, pay-here dealers are going to face before the end of the year. It’s implementation of the Current Expected Credit Loss (CECL) accounting standards. Shilson offered recommendations for how both […] [Read More]

Global mobility provider SIXT is entering Canada. The rental car company said Tuesday it will launch first in Vancouver — with its debut Canadian branch in the city’s Library Square — followed by Toronto. “Expanding into Canada is a huge step for our business, and we are excited to bring the premium SIXT experience to […] [Read More]

Axis Auto Finance announced in early July that its Pivotal Capital Corp. commercial equipment finance subsidiary has lined up an additional funding facility with Mitsubishi HC Capital Canada. The funding facility includes a purchase facility of up to $50 million in annual purchases and a warehouse facility with a $5 million limit. Pivotal plans to […] [Read More]