AutoBuy provides a marketplace for dealers to buy used-car inventory sourced from consumers. Mark Maida, co-founder and chief executive of the company, joins the show to talk about the business model and how it's different than other car-buying models, the expansion of its footprint and more. To listen to the episode, click on the link available below, […] [Read More]

Cherokee Media Group recognized its 2021 Used Car Awards winners, a program sponsored by KAR Global, at Used Car Week in November. The  conference was held Nov. 15-18 at Red Rock in Las Vegas. Spotlighted during the Used Car Awards Luncheon, also sponsored by KAR, were Andy Mohr Ford, the 2021 Franchise Dealer of the Year, […] [Read More]

TRADE X, a Canada-based cross-border automotive trading platform, has lined up more debt financing. The company said Tuesday it has secured two additional asset-backed lines of credit, both of which are $25 million (USD) with accordion features to expand to $50 million. TRADE X said the financing will be put toward its “mission to simplify […] [Read More]

It’s been quite a week for Solutions by Text, provider of a text messaging platform for consumer financial services institutions. First, the company announced raising of $35 million in growth financing. Edison Partners led the transaction with participation from Stifel Venture Bank, a division of Stifel Bank. The company also announced the appointment of payments […] [Read More]

More evidence of how rising wholesale and retail prices are landing within finance company portfolios arrived on Thursday. According to Experian’s latest State of the Automotive Finance Market report, the average amount financed for a used vehicle jumped more than 20% year-over-year during the third quarter. [Read More]

AutoCanada has more than doubled its presence in Ontario with its latest acquisition. The Edmonton-based dealer group said Wednesday it has completed its purchase of 11 Autopoint Group dealerships in southwestern Ontario. AutoCanada now has 18 stores in the province. The Autopoint locations in the purchase include Honda, Acura, Nissan, Infiniti, Subaru and Kia stores […] [Read More]

Jeff Allen, who is vice president of customer experience at PureCars, joins the show to talk about the social media advertising landscape for auto dealers, digital retail trends and more.  Plus, he shares what's on his radar for 2022. To listen to the episode, click on the link available below, or visit the Auto Remarketing Podcast page.  Download […] [Read More]

KAR Global values its commercial clients, especially ones that leverage OPENLANE iQ, which provides data analytics and comprehensive technology solutions for more than 40 upstream brand marketplaces supporting 80% of North America’s private label brands. Hyundai Capital America is one of the latest captive finance companies to migrate to the platform, and KAR shared through […] [Read More]

KAR Global chief economist Tom Kontos acknowledged during a recent Auto Remarketing Podcast that he and his analytical teammates are extra careful nowadays to make sure they’re seeing the latest wholesale value numbers correctly. The latest information shared through the Kontos Kommentary reinforced why company experts are making those concerted efforts. [Read More]

Lightico growth trajectory continued on Wednesday. About a week after landing a relationship with PayNearMe, the next-generation digital completion platform that supports millions of insurance, automotive, telecom and financial services interactions welcomed Jeff Dobo as its senior vice president of sales for North America. The company highlighted Dobo will lead Lightico’s sales operations on the […] [Read More]