Carvana’s agreement to buy ADESA’s U.S. auction locations for $2.2 billion is arguably the most landscape-shifting move to impact the wholesale auto industry in decades, if not ever. One might ask, though, why would a digital used-car retailer buy such a physical asset-heavy business as a bricks-and-mortar auto auction chain — especially at a time […] [Read More]

A day after announcing a major move associated with its business operations in Canada, IAA turned its attention back to the U.S. on Friday. The company announced that it has completed a branch expansion at IAA Fontana and has broken ground on a new branch to meet growing demand in southern California. Executives highlighted the […] [Read More]

TransUnion is trying to give auto-finance companies and other lenders and service providers the clearest glimpse possible of how well consumers handle their payments and other credit obligations. As a result, TransUnion introduced its new point-of-sale suite of solutions since analysts said up to 100 million U.S. adults have used buy now pay later (BNPL) […] [Read More]

This is a developing story and will continue to be updated. KAR Global has signed a definitive agreement to sell all of its ADESA physical auction business in the U.S. to Carvana for $2.2 billion.  The all-cash deal would include all auction sales, operations and staff at 56 ADESA U.S. vehicle logistics centers in the U.S. Carvana […] [Read More]

VINData vice president Edie Hirtenstein and LAUNCHER.SOLUTIONS president Nikh Nath join the show to talk about the new partnership between their respective companies. Launcher teamed up with VINData to provide its finance company customers with a deeper view into vehicle history, title data, vehicle values and more, all to help them manage risk and decisioning. […] [Read More]

As electric vehicle owners are becoming more satisfied with at-home recharging capability, more consumers are financing the acquisition of an EV. But as these trends continue, at least one expert is cautious about the capacity of the U.S. power grid to handle EV charging to go with the demands already placed on it because of […] [Read More]

Canadian online auto retailer Clutch has debuted an instant cash offer tool on its platform to allow the consumer to sell or trade-in their pre-owned vehicle and have it picked up for free. In a news release, Clutch said the new tool provides an instant offer to the consumer as soon as they input their vehicle […] [Read More]

IAA, Inc. said Thursday that its Impact Auto Auction business unit in Canada has rebranded to the IAA global brand. In a news release, IAA said this move “underscores IAA’s commitment to investment, innovation and customer excellence in the Canadian market” and “highlights the recent series of technology launches in the Canadian market.” Impact, which […] [Read More]

To use the industry vernacular, Experian’s newest State of the Automotive Finance Market report reinforced how much more money is on the street nowadays. According to Experian’s fourth-quarter report released on Thursday, the average amount financed and monthly payments both jumped significantly year-over-year for both used- and new-vehicle financing. [Read More]

Following its acquisition of America's Auto Auction, XLerate Group has brought the Auction Credit Enterprises (ACE) and XL Funding (XLF) floor plan finance companies under common leadership. XLerate — which is the parent company of America’s Auto Auction and XLerate Auctions, Liquid Motors as well as the two aforementioned floor plan providers — has named […] [Read More]