Dealers who are itching to grow their business now might be able to secure more affordable resources from Westlake Capital Finance (WCF). The Westlake Technology Holdings subsidiary announced last week that qualified dealers can be approved for new commercial real estate lending rates as low as 3.99%. WCF launched its commercial real estate lending program […] [Read More]

Not surprising to economic experts, the Federal Reserve stood pat on current policy associated with interest rates. However, Cox Automotive chief economist Jonathan Smoke pointed out one metric that might have an even more pronounced impact on auto financing than what the Federal Open Market Committee (FOMC) does involving interest rates. Last week, the FOMC […] [Read More]

Haig Partners LLC has named a director of marketing and business development, hiring Aimee (LaBrake) Allen for the position. Allen had previously been an independent consultant for firms providing car dealers with accounting, banking, business valuation and succession planning services. Her background includes team heading up marketing and growth for DHG Dealerships. “We pride ourselves […] [Read More]

The podcasting shoe is on the other foot this time around. Auto Remarketing senior editor and Auto Remarketing Podcast co-host Joe Overby joined the Preowned Auto Logistics podcast last week to talk with Jeremy Louisos about Used Car Week, which takes place next week at Red Rock in Las Vegas.  They discuss an overview of the conference, […] [Read More]

Turns out, there was more than one decades-long drought snapped for an Atlanta entity this past week. Cox Automotive, headquartered in Georgia’s capital, said Friday that its Manheim Used Vehicle Value Index saw its first-ever non-seasonally adjusted October increase last month. The index — which began in 1997, a year after the city’s Summer Olympics and two […] [Read More]

Holman Enterprises shifted the responsibilities of three executives, as the company that already has 41 dealership franchises representing 20 brands as well as fleet leasing and management company ARI in its portfolio launches a new segment focused on the commercial space. According to a news release distributed on Thursday, Holman executive vice president and chief […] [Read More]

Chase Auto recognized its top U.S. auto auction partners on Thursday, spotlighting 10 auctions via Zoom for their performance in its annual Chase Cup for Auction Excellence program. After reviewing 36 auctions for their respective performances in handling preparation, sales, invoice processing, transport requests, title processing and more, Chase awarded ADESA Kansas City the Chase […] [Read More]

HyreCar has an ambitious goal it wants to reach in four years. On Thursday, HyreCar took another step toward it with moves that include increased financing capacity for one of its key partners. The carsharing marketplace for ridesharing, food and package delivery services announced an expanded strategic partnership to significantly increase vehicle supply in key markets on […] [Read More]

Penske Automotive Group said Thursday it has opened a CarShop location in Scottsdale, Ariz., which is its eighth used-car standalone store in the U.S. and 23rd worldwide. The store features a 45,000-square-foot facility located at the Scottsdale AutoShow on the Salt River Pima-Maricopa Indian Community. “We are certain that our new Scottsdale location will become […] [Read More]

Jim Jackson, a fan of saltwater fishing when he’s off the clock, found quite the catch career-wise some 30 years ago. After finishing his service in the U.S. Army, Jackson said he was “fortunate enough” to have “stumbled into” the auto industry, with a job at a salvage auction company later purchased by IAA. Jackson […] [Read More]