An acquisition announcement in the fleet space literally on a global scale came to light on Thursday. ALD Automotive said it signed of a memorandum of understanding to acquire 100% of LeasePlan from a consortium led by TDR Capital. According to a news release, the proposed acquisition of LeasePlan is for a total consideration of […] [Read More]

In a move that became effective on the first day of 2022, Hudson Cook promoted two of its attorneys to equity partners of the firm that serves dealerships and finance companies. According to a news release, the firm’s two newest partners are Webb McArthur and Latif Zaman. McArthur, a resident in the firm’s Washington, D.C. […] [Read More]

Compliance expert Randy Henrick, who also is a part of the team at Ignite Consulting Partners, shared a costly example of how not following federal statutes when making personnel decisions can inflict some significant financial pain on independent and buy-here, pay-here dealers. Henrick recently recapped that an Ohio dealer has agreed to pay $390,000 to […] [Read More]

Coinciding with Wisconsin-based First Business Bank making headway in the South with its floorplanning, digital auto auction marketplace EBlock announced a key partnership with Kinetic Advantage, a provider of floorplan technology. With soft wholesale volume and high prices in the lanes, EBlock and Kinetic Advantage said this week through a news release that their partnership will […] [Read More]

Though slower than November, the used-car retail sales market last month was expected to rise 3% year-over-year, according to a late December forecast from TrueCar. The company was predicting roughly 3 million used-vehicle sales in the final month of 2021, which would represent a 2% month-over-month decline but a 3% gain from December 2020. And how […] [Read More]

While many were counting down from 10 on New Year’s Eve, the used-car industry in Canada was counting up. To 21, that is. The final week of 2021 marked the 21st consecutive time that wholesale vehicle prices increased in Canada, according to Tuesday’s CBB Automotive Market Update from Canadian Black Book. Wholesale vehicle prices were […] [Read More]

Two firms in the transportation industry started the new year by working together. On Tuesday, Ship.Cars, a leading automotive transport technology company, announced a partnership with CarrierSoft, an automotive transport software provider. According to a news release, CarrierSoft has integrated its Broker TMS platform, MegaBee, with Ship.Cars’s Market, enabling brokers to post loads directly from […] [Read More]

If there was ever any doubt as to what segment draws the most attention in the used-vehicle market, let it be put to rest. Each of the top three best-selling used vehicles in 2021 were full-size pickup trucks, according to an analysis from iSeeCars.com. [Read More]

DealerOn began 2022 by welcoming a new chief sales officer. Bringing 25 years of experience driving revenue, profitability and performance as a leader in the automotive industry, the digital marketing technologies provider for manufacturers and dealerships hired Bill Wittenmyer for this position.  As a former partner at ELEAD and vice president of sales at CDK […] [Read More]

An executive whose professional background includes time in the remarketing world now is in a leading role for a subsidiary of JM Family Enterprises. According to a company news release distributed on Wednesday, Brent Sergot has been named president of Southeast Toyota Distributors. In addition to leading the company’s daily operations, the announcement indicated Sergot […] [Read More]