With Memorial Day Weekend unofficially starting summer and vacation season, Black Book noticed somewhat sleepy auction lanes last week and expects more of the same this week. But there are some interesting trends emerging that could affect the shape of the wholesale market as the temperatures continue to rise. “Many buyers seem to still be […] [Read More]

In 1996, the National Safety Council declared June “National Safety Month,” a time to reflect on working conditions around the country and how to create safer environments. Two decades later, it serves as an important reminder each year that workplace safety requires commitment each and every day from both a company and its employees. At […] [Read More]

XLerate Group, which acquired the America’s Auto Auction group late last year, said Wednesday it is rebranding the 16 XLerate auctions with the AAA name, as the company consolidates the XLerate auctions with the 23 AAA sites under a unified branding. The group is also launching a revamped logo. “XLerate Group’s acquisition of America’s Auto […] [Read More]

E Automotive Inc. and its EBlock dealer-to-dealer digital auction subsidiary have purchased another independent auto auction and continue to grow in the Southern U.S. As part of its U.S. expansion strategy, the Toronto-based company announced Wednesday it has acquired Louisiana’s 1st Choice Auto Auction. “The acquisition of Louisiana's 1st Choice is another example of us executing our […] [Read More]

CarNow, a digital retailing provider in the auto industry, has named a chief financial officer. Hired for the role is Tim O’Toole, whose background includes CFO roles with RapidMiner, Yotta, Dyn and Rapid7. O’Toole’s experience also includes time on the senior leadership team at BladeLogic. “Having known Tim for nearly 20 years, I am excited […] [Read More]

Auto Remarketing has added a twist to our 40 Under 40 program. The program will now feature two separate awards: “Dealers Under 40,” which is sponsored by CARFAX and focuses exclusively on leaders from auto dealerships; as well as a 40 Under 40 for the overall industry, which will focus on the consignors, auctions, auto finance, vendors, […] [Read More]

DriveItAway founder and chief executive officer John Possumato wants to give consumers as many options as possible when using the company’s electric vehicle subscription to ownership program. On Wednesday, DriveItAway Holdings launched an initiative with Polestar 2 for anyone who would like to drive and try a new luxury EV vehicle before making a commitment to […] [Read More]

Two service providers with international presences and leaderships now are working together to smooth customer journeys with digital solutions for finance companies and lenders throughout North America. Inovatec Systems, based in Burnaby, British Columbia, recently reached a collaborative agreement Lightico, which has operations in New York and Tel Aviv. Through this relationship, users can access […] [Read More]

In March, FINN expanded its vehicle subscription offering to western Pennsylvania, Massachusetts, Connecticut and Washington D.C., following its initial U.S. rollout in December. And now the company has additional financial resources to expand more. Last week, FINN announced it has closed $110 million in Series B funding led by Korelya Capital along with Keen Venture Partners, […] [Read More]

Solera Auto Finance (SAF) launched in March during NADA Show 2022, building momentum and bettering its own initial growth estimates. The company recently said it is already well-positioned in the used-vehicle finance market, signing dealer agreements and funding contracts within two months of its introduction. And before May closed, SAF announced the upward revision of […] [Read More]