Another busy week of activities among dealer groups unfolded with more acquisitions, store openings and executives in leadership positions. While Penske Automotive Group made a move overseas, let’s begin this dealer roundup with Foundation Automotive Corp. adding the 30th dealership to its portfolio. On Thursday, Foundation announced its second acquisition so far this year in […] [Read More]

The top executive leadership changes at CarLotz continued on Thursday. Along with announcing that chief operating officer John Foley and chief technology officer Dan Valerian will be departing in April, CarLotz appointed a new president as well as a new CTO. Taking on the role of president of consignment-to-retail used vehicle marketplace is Ozan Kaya, […] [Read More]

XLerate Group, the parent company of America’s Auto Auction, has reinforced its sales and marketing departments by placing a trio of experienced wholesale market professionals into critical roles. The latest move arrived on Friday when the company announced the appointment of Sawyer Walker as director of national sales for the combined wholesale operation.  Walker started […] [Read More]

This week, GM Financial named five regional 2021 Auction of the Year winners and a winner of Most Valuable Auction of the Year, which are part of the consignor’s annual nationwide auction of excellence program recognizing the highest-performing auction locations in 2021. GM Financial said recipients were selected after reviewing each of the company’s 50 […] [Read More]

Most of the major financing metrics Edmunds tracks regularly are poised to set new records. With the retail price of new and used vehicles so high, Edmunds reported on Friday that the average amount financed and monthly payments recorded during the first quarter are at the highest levels analysts have ever seen. [Read More]

Within the week of being named one of this year’s Emerging 8 honorees, Car Capital showed again why it’s gaining momentum in auto financing. The technology company that strives to get any deal bought no matter the consumer credit background is continuing to build its network of dealer partners with CarLotz coming aboard on Wednesday. […] [Read More]

On Wednesday, Copart announced that its board of directors has appointed Jeff Liaw, who has been serving as president and chief executive officer North America, to be co-CEO in a move that’s effective on Friday. According to a news release, Copart said Jay Adair will continue his leadership of the company as co-CEO and as […] [Read More]

After announcing a move into used-vehicle financing during NADA Show 2022 earlier this month, Solera Holdings reinforced its management team on Thursday by appointing top insurance and automotive business executives to key roles. The company said Bill Brower, Mike Roberts, Dan Barrington and Lewis Scott will bolster Solera’s industry position in vehicle lifecycle management. “Solera […] [Read More]

It appears Kyte is putting the asset-backed credit financing from Goldman Sachs and Ares Global Management of $200 million announced last week to work quickly. On Thursday, the company pioneering vehicles delivered to users on-demand announced the launch of its new Tesla subscription product. Kyte said the fleet of premium electric vehicles will be available […] [Read More]

TD Auto Finance president and chief executive officer Andrew Stuart is part of the luncheon and opening panel discussion at the Auto Intel Summit, which looks to provide some clarity of “what’s next” for auto financing. Stuart also is involved with a major undertaking TD Auto Finance announced on Thursday. The bank has launched real-time […] [Read More]