F&I Sentinel — a leading compliance solutions provider with respect to the financing of F&I products — announced its founders have partnered with Calera Capital, a leading middle-market private equity firm.  According to a news release distributed on Monday, terms of the transaction that created a majority recapitalization of the business were not disclosed. “With […] [Read More]

Kroll Bond Rating Agency had the opportunity to use an adjective to describe its latest auto-finance data that’s quite familiar to executives and managers. Analysts included the word “seasonal” when recapping its January indices that are based on information accumulated through the securitization market. “January remittance reports showed weaker credit performance across prime and non-prime […] [Read More]

It appears the frenetic M&A activity in auto retail has found its way to the wholesale space. ACV said Monday it has acquired Monk SAS, an imaging and vehicle inspection platform designed to automotive vehicle damage detection through artificial intelligence. Within the last week,  E Automotive Inc. and its EBlock brand have purchased the FastLane Auto […] [Read More]

For decades, you could walk into an ADESA facility (or any auto auction, for that matter) and generally know what to expect on sale day. A multitude of lanes, each with a block where an auctioneer would call bids, as vehicles would slowly drive through as dealers put in their bids. The auction format has […] [Read More]

The recent trend of companies going through a rebranding continued this week with one of the industry’s largest service providers. On Thursday, Cox Automotive launched DRiVEQ, the official branding of the company’s data intelligence capabilities that powers its portfolio of automotive solutions and services. Leadership highlighted DRiVEQ combines Cox Automotive’s portfolio of first-party automotive data, […] [Read More]

Used-vehicle market resiliency is likely to be on display again this month, as one projection has February retail sales improving from the opening month of 2022. Meanwhile, if franchised stores actually have new models to retail, they’re generating grosses that sometimes only their used departments can. TrueCar said on Friday that used-vehicle sales this month […] [Read More]

Carvana’s agreement to buy ADESA’s U.S. auction locations for $2.2 billion is arguably the most landscape-shifting move to impact the wholesale auto industry in decades, if not ever. One might ask, though, why would a digital used-car retailer buy such a physical asset-heavy business as a bricks-and-mortar auto auction chain — especially at a time […] [Read More]

A day after announcing a major move associated with its business operations in Canada, IAA turned its attention back to the U.S. on Friday. The company announced that it has completed a branch expansion at IAA Fontana and has broken ground on a new branch to meet growing demand in southern California. Executives highlighted the […] [Read More]

TransUnion is trying to give auto-finance companies and other lenders and service providers the clearest glimpse possible of how well consumers handle their payments and other credit obligations. As a result, TransUnion introduced its new point-of-sale suite of solutions since analysts said up to 100 million U.S. adults have used buy now pay later (BNPL) […] [Read More]

This is a developing story and will continue to be updated. KAR Global has signed a definitive agreement to sell all of its ADESA physical auction business in the U.S. to Carvana for $2.2 billion.  The all-cash deal would include all auction sales, operations and staff at 56 ADESA U.S. vehicle logistics centers in the U.S. Carvana […] [Read More]