AutoNation has made a major play in the aftersales business, announcing Monday it is acquiring RepairSmith, a mobile auto repair and maintenance provider, for $190 million. The transaction is expected close in the first quarter. The retailer said the purchase of RepairSmith gives the company another channel to provide aftersales services to its existing customers […] [Read More]

NETSOL Technologies last week announced the opening of a new support and delivery center in Austin, Texas. The global business services and enterprise application solutions provider highlighted its state-of-the-art facility will have the capacity of accommodating more than 100 employees who will facilitate the company’s growing customer base across the North American region. “Our modern […] [Read More]

Last week, Wolters Kluwer announced the latest results from its ongoing industry survey it has commissioned to better understand where automotive, dealer, and auto finance professionals are still finding barriers in adopting more digitized solutions for back-office documentation processing. Wolters Kluwer presented an online survey to more than 2,000 automotive dealer, finance company and service […] [Read More]

S&P Global Ratings went to its investment research laboratory recently because market participants have become increasingly concerned about subprime auto ABS given that the economy may be on the precipice of a recession wherein unemployment levels would likely rise and inflation could persist. Given the established relationship between unemployment and losses on collateral backing auto […] [Read More]

The growth in cross-border dealership M&A activity continues. Lasher Auto Group has sold five dealerships in California  — Elk Grove Acura, Audi, Chrysler/Dodge/Jeep/Ram, Subaru and Volkswagen — to Canada-based Knight Automotive Group, according to a news release from Kerrigan Advisors, which represented Lasher in the deal. “We were honored to represent Lasher Auto Group on […] [Read More]

ServiceUp, an autotech startup in the car repair space, has launched a new service line to help fleet managers called ServiceUp for Fleets. The company aims to make the tasks of vehicle maintenance/repair, repair order status/tracking and repair order approvals more efficient for fleet managers. “We are proud to launch ServiceUp for Fleets to meet […] [Read More]

CARFAX announced this week that its vehicle history database now includes more than 30 billion records. According to a news release, the 30 billionth record loaded into the CARFAX database is an “offered for sale” record on a 2020 Kia Telluride. The company said this Telluride is a one-owner, well-maintained, certified pre-owned SUV that has […] [Read More]

Location Services recently hired eight executives in a wide array of specialties to help strengthen the senior leadership team of the recovery management and loss mitigation service company. Bringing 10 to 20 years of experience with them in some instances, the newest hires include: —Carolynn Huter, vice president of human resources —Peggy Hood, vice president […] [Read More]

Shift’s merger with CarLotz has officially closed, the company announced Friday. The deal for CarLotz, a consignment-to-retail used-car marketplace, to merge with Shift, a used-car ecommerce platform, was first announced in August. CarLotz shareholders at the time of the merger receive roughly 0.705 shares of Shift common stock for each CarLotz common stock they own. […] [Read More]

Jay Maxwell of the Costco Auto Program returns to the Auto Remarketing Podcast this week In this episode, we talk about the program's latest certified pre-owned incentives, the importance of partnerships between dealers, automakers and third parties in CPO, plus much more. To listen to the conversation, click on the link available below, or visit the Auto […] [Read More]