AutoNation is buying a captive finance company for its AutoNation USA standalone, used-car operation, said chief executive officer Michael Manley during the company’s second quarter earnings call on July 21. Once the acquisition is complete, CIG Financial of Irvine, Calif., will aid with the expansion of AutoNation USA and improve the used-car operation’s financial performance, all with modest […] [Read More]

This week’s update involving mergers and acquisitions of dealerships covers two unique parts of retailing — luxury sedans and SUVs as well as big rigs to move goods. The Presidio Group said it advised Scott Biehl on the sale of the Jaguar Land Rover Los Angeles dealership franchises to US Auto Trust. And Performance Brokerage […] [Read More]

Compared to previous years, wholesale vehicle values remained unusually high in July. But it’s what’s happening with consumer confidence — which continues at “historic lows” — and the impact to used-car demand that … [Read More]

National Auto Auction Association chief executive officer Tricia Heon, 2021 NAAA president Charles Nichols and 2022 NAAA president Garrison Hudkins join the show to talk about the upcoming National Auto Auction Week and the annual NAAA Convention. They share a sneak peek at the convention's agenda, including a look at the show's country concert and […] [Read More]

The American Recovery Association’s new leadership tandem made time for this episode of the Auto Remarketing Podcast. Installed earlier this summer, president Vaughn Clemmons and executive director Joel Kennedy offered their perspective on taking these leadership roles for an industry segment that facing some notable challenges. To listen to the conversation, click on the link available […] [Read More]

More than 35 credit unions already use the platform fueled by Credit Union Leasing of America (CULA), and the service provider grew its client base this week by adding Affinity Federal Credit Union. Initially, Affinity plans to offer this leasing opportunity to New Jersey members and local dealerships, with plans to expand the indirect leasing […] [Read More]

According to a news release a pair of independent dealerships in the Southeast are among the stores already seeing the advantages of using Solera Auto Finance (SAF) after receiving rebate checks as part of the finance company’s rewards program. Drive a Dream, an independent dealership in Marietta, Ga., earned a rebate check that reduced its […] [Read More]

Blinker and Flagship Credit Acceptance now are collaborating to leverage their collective resources to gain more share within auto financing. The automotive e-commerce technology and services company and auto-finance provider managed by funds controlled by Perella Weinberg Partners Capital Management (PWPCM) and sub-advised by an affiliate of Innovatus Capital Partners (ICP) announced they have completed […] [Read More]

Earlier this week, F&I Sentinel made its fourth major move so far this year, announcing its chief financial officer. After landing funding from Calera Capital in February and hiring two former F&I Express executives and adding former Hudson Cook partner Rick Hackett to its board in May, the compliance solutions provider said Tim Barchie joined […] [Read More]

EFG Companies recently reinforced its educational offerings because the company said its F&I training graduates produce an average of $206,000 in additional annual revenue. To help more industry professionals achieve to that degree, EFG Companies welcomed Kim Kotz-Carroll as vice president of training and recruiting. EFG reiterated that it positions clients to weather industry changes […] [Read More]