RunBuggy, a tech platform designed to connect car shippers and transporters, has secured $19 million in Series A financing from an investor group that includes the Larry H. Miller Company, Porsche Ventures and Hearst Ventures. The funds will be used for continued scaling of the technology and accelerating product adoption, the company said. “For the first […] [Read More]

Central Auto Auction now is being overseen by a new auction manager who has been in the industry longer than the operation itself. Announced earlier this month, the new auction manager at Central AA is Anthony Jasiak, who has more than 25 years of experience. Jasiak started his career as the AGM with ADESA New […] [Read More]

According to a report from S&P Global Mobility (previously the auto team at IHS Markit), the average age of light vehicles in operation has climbed for five consecutive years, reaching a record age of 12.2 years as of Jan. 1, 2022. So, perhaps it’s not surprising that the automotive aftermarket continues to demonstrate its market […] [Read More]

While the overall number of vehicles in operation with an open recall is down almost 6% from 2021, new CARFAX data shows more than 50 million vehicles on U.S. roads today are being driven with a known issue that should be repaired. According to a news release distributed on Tuesday, CARFAX data also indicated that […] [Read More]

The wholesale vehicle price situation in Canada appears to be nearing a peak, or at least a plateau, though values remain considerably higher than pre-pandemic levels and should stay that way for years to come. That's according to a report around Canadian Black Book’s Used Vehicle Retention Index for May, which was released Monday and […] [Read More]

The volume of dealerships changing hands has been growing for some time. Now in recent days, acquisitions involving products and software connected to financing and retailing are intensifying, too. On the heels of J.D. Power announcing a pair of acquisitions, TrueCar said on Monday that it has acquired Irvine, Calif.-based Digital Motors in a move intended to accelerate […] [Read More]

American Financial Services Association senior vice president Celia Winslow recounted during a recent episode of the Auto Remarketing Podcast that AFSA has been seeking clarity about what the Consumer Financial Protection Bureau (CFPB) defines as risk for more than 10 years. Just after Memorial Day, Winslow tried again, sending a letter to CFPB director Rohit […] [Read More]

Attendees at the upcoming National Independent Automobile Dealers Association annual gathering who have a taste for luxury and an affinity to help others can satisfy both with one winning bid. For the 10th consecutive year, officials highlighted the NIADA Convention and Expo will include the auction of a front-line ready used vehicle to benefit the […] [Read More]

CarOffer said Monday it has launched a national non-affiliated online used-car exchange desk called PremiumXchange (or PX), where dealers throughout the country can exchange cars with one another at prices determined by those dealers. Through the Instant Market Value technology from CarOffer parent CarGurus, dealers can use PX to take advantage of price disparity from […] [Read More]

According to Experian’s State of the Automotive Finance Market report, Michigan continued to pace the nation during first quarter with 61.5% of new-vehicle financing originated in that state being a lease. Two other states known for heavy leasing activity weren’t far off that mark, as Experian reported last week that … [Read More]