The XLerate Group has made its third acquisition in just over two months. The company said Friday it has purchased Clark County Auto Auction. The Jeffersonville, Ind., auction becomes the 15th auction brand in the XLerate family and the first in the group’s home state of Indiana. XLerate, which is headquartered in the Indianapolis suburb […] [Read More]

The average used vehicle sold at a modestly more brisk clip in August (34.6 days to sell) than it did in July (35.4 days), according to a recent analysis from iSeeCars.com. And the fastest-selling used vehicle last month sold twice as quickly as that. For the third month in a row, the Tesla Model 3 had […] [Read More]

This year's J.D. Power APEAL (automotive performance, execution and layout) Study results put Porsche ranking highest among the premium brands, Dodge on top for mass market brands, and General Motors taking home the most vehicle segment-level awards. The study showed the "new vehicles are more appealing than ever" with some very successful launches for 2021.  […] [Read More]

GoMoto said this week it has recently completed the extensive process of securing a U.S. patent for its service kiosks. And the company has been working hard to make its GoMoto Service Kiosk key retrieval system — which works to provide a safe, secure exchange of vehicle keys — more efficient and convenient for both dealers and customers.  “Gone are […] [Read More]

Adding its 10th dealership to its New Jersey lineup, World Auto Group has purchased the Subaru dealership in Hackettstown, N.J., on Route 46. The dealer group said the store will now operate as Subaru World of Hackettstown. This news comes less than a year after purchasing New Jersey's Audi Newton dealership.  The new dealership (Subaru World […] [Read More]

Online auto auction company Copart has added a new member to its board of directors this month. Chosen for the position is Carl Sparks, a managing partner with Dallas-based venture capital firm Interlock Partners. His company, Copart shared, is focused on early-stage "transformative" technology companies.  Sparks also brings past experience serving as a public company […] [Read More]

With inspection experts already cautioning dealers because of inventory being so difficult to get, CARFAX shared even more data about how many vehicles potentially have been damaged in the wake of Hurricane Ida and other intense storms across the United States in recent weeks. CARFAX said on Thursday that widespread flooding from Hurricane Ida — […] [Read More]

One of the most enthusiastic and knowledgeable regular guests on the Auto Remarketing Podcast recently returned, as StoneEagle F&I senior vice president of business development Joe St. John came back to discuss what’s happening in dealership finance offices nowadays. We also delved into another topic that’s one of St. John’s passions; mergers and acquisitions that are […] [Read More]

Obviously, operators need financial resources to run their dealerships. Capital providers do, too. And NextGear Capital announced on Thursday that it has more resources to help independent and buy-here, pay-here dealerships. The Cox Automotive division said it completed the renewal of its $1.1 billion financing facility on Aug. 31. In addition, NextGear mentioned it recently […] [Read More]

Cox Automotive’s newest updates of indexes that track auto financing showed mixed developments with regard to dealerships being able to get their potential buyers financed and providers’ appetite to build portfolios. [Read More]