With inflation weighing on their minds, too, more evidence arrived on Thursday that shows that individuals who might need subprime auto financing aren’t necessarily on the lowest end of the income spectrum. The number of consumers living paycheck to paycheck has increased steadily since April and stood at 64% in January — 12 percentage points […] [Read More]

There’s a new brand under the Cox Automotive Mobility umbrella. Parent company Cox Automotive announced Thursday that it has launched “Cox Automotive Mobility Fleet Services,” which unites its Dickinson Fleet Services and Interstate Truck Center brands. Those entities will now operate under a unified brand, a move that provides “more holistic offering of industry-leading on-site, […] [Read More]

KAR Global’s agreement to sell its U.S. ADESA auto auction business to Carvana has potential impacts to parties beyond those involved in the deal. For example, their respective competitors, who have various business relationships with the aforementioned companies. So, what happens to those relationships moving forward? [Read More]

The leadership structure of the newly combined XLerate and America’s Auto Auction groups continues to take shape. XLerate Group — which is the parent company of America’s, Auction Credit Enterprises, XLerate Auctions, XL Funding and Liquid Motors — has named four new senior vice presidents. These new senior VPs — Laura Taylor, John Swofford, Jason Nichols and Brian […] [Read More]

The Natchez-Adams Chamber of Commerce named Loss Prevention Services (LPS) as its 2021 Large Business of the Year at the annual chamber gala on Jan. 25. The chamber presents this award annually to a member business with more than 25 employees that excels in workforce development, employee retention, career development for employees and overall contributions […] [Read More]

RISC is bringing the popular consumer retailing concept of BOGO to the recovery space. The provider compliance oversight and training services to the collateral recovery industry announced this week that each time a customer purchases one Certified Asset Recovery Specialist (CARS) or one CARS Continuing Education (CARS CE) course, they will receive a free driver’s […] [Read More]

In January, Automotive Ventures chief executive officer and founder Steve Greenfield announced a contest in collaboration with Shell Lubricants to help startups. On Wednesday, Greenfield highlighted his newest initiative that’s aimed to provide fuel for entrepreneurs; this time connected with dealerships. Greenfield explained in a LinkedIn post that Automotive Ventures DealerFund is designed to help dealerships “navigate […] [Read More]

One North Carolina-based firm that offers technology for dealer websites to help potential buyers understand their financing options has been acquired by another Tar Heel State company that provides vehicle valuation and merchandising software solutions to dealerships TradePending announced on Wednesday that it has acquired AutoAPR. While financial terms of the transaction were not disclosed, […] [Read More]

A previous Emerging 8 honoree is expanding its offerings and executive team. TurboPass, an electronic multi-verification solution for dealers, highlighted that it has experienced “explosive” growth during the past 24 months and is now ready to begin expanding beyond the automotive space. TurboPass founders, chief executive officer Mike Jarman and chief operating officer Ken Jarman, […] [Read More]

It was a record year at Origence. The CU Direct brand and technology solutions provider announced on Tuesday that it had delivered a record amount of auto financing for credit unions through its platforms in 2021. The company said credit unions funded 2.2 million installment contracts through the Origence Lending 360 and CUDL platforms, generating […] [Read More]