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]

Initial estimates for used-car retail sales in November are down on both a month-over-month and year-over-year basis, but comparisons to pre-COVID numbers are improving. That’s according to analysis from Cox Automotive, which bases its sales estimates on a same-store set of dealership data from its Dealertrack business unit. Cox estimates there was a … [Read More]

AutoVerify has teamed up with Global Warranty, an independent warranty provider in Canada, to help dealers drive F&I profitability. The company has integrated Global Warranty products into its AutoVerify Spotlight digital merchandising solution. “This partnership with AutoVerify is a win for our company and automotive shoppers as a whole,” Global Warranty president and CEO Roy […] [Read More]

While Canadian car shoppers say they’ll hold steady on their decisions around new-versus-used and budgeting regardless of where the economy goes, recent research from AutoTrader.ca also shows they were more willing to consider pre-owned this year. Pushed by microchip shortage-driven new-car supply challenges, 36% of vehicle intenders this year considered buying a used car instead […] [Read More]