Ken Garff Automotive Group has purchased two Arizona stores from Earnhardt Auto Centers. The deal was announced Thursday by Kerrigan Advisors, which represented Earnhardt Auto Centers in the sale of Earhardt Kia in Phoenix and Rodeo Hyundai in Surprise, Ariz. These marked the second and third stores Kerrigan has sold in the Phoenix area over […] [Read More]

It’s been a busy week at IAA. Within days of announcing moves in New York and Maryland, IAA highlighted growth activities in Colorado and South Carolina on Thursday. First, the company announced the opening of a news branch in Colorado Springs, bringing the total number of IAA locations in Colorado to four. IAA explained the […] [Read More]

COVID-19 is prompting Location Services to make significant changes. After being impacted by the pandemic, the company announced on Thursday that it has made the decision to exit the direct recovery space and focus on building its existing forwarding model, which includes recovery, skip-tracing, remarketing, transport, keys and titles. Along with moving its corporate headquarters […] [Read More]

America’s Car-Mart announced the newest member of its board on Thursday. The company with a network of more than 150 buy-here, pay-here dealership said its stockholders elected Julia Davis to its board in a move that was effective as of the company’s annual meeting of stockholders on Aug. 25. Car-Mart indicated Davis replaces Ray Dillon, […] [Read More]

The Presidio Group again served as the advisor to dealerships changing hands. According to a news release from the firm, the Presidio Group played a role in the sale of Tysinger Motor Co. and its five dealership franchises to Mills Automotive Group. The transaction included Audi, Hyundai, Genesis and Mercedes-Benz dealership franchises as well as […] [Read More]

Both a large subprime auto finance company and a state attorney general seemed pleased to announce a settlement between them that is involving more than $27 million. On Wednesday, Credit Acceptance became the fifth different finance company to finalize a settlement with the Massachusetts attorney general during the past five years. According to a news […] [Read More]

Vincentric announced its 2021 Best CPO Value in Canada Awards this week, and leading the pack were Kia and Mazda. Each of those automakers earned one brand award apiece, and each took home four model-level awards. Specifically, Kia earned brand honors in the passenger car category, along with four model awards. Mazda earned top marks […] [Read More]

General Motors acquired AmeriCredit 11 years ago in a move that eventually led the formation of its new captive finance company at GM Financial. Another domestic OEM is on the same path. On Wednesday, Stellantis announced it has entered into a definitive agreement to acquire F1 Holdings Corp., parent company to First Investors Financial Services […] [Read More]

XLerate Group will have a new majority owner. Private equity firm Brightstar Capital Partners announced Thursday it has entered a definitive agreement to acquire a majority stake in the auto auction and remarketing facilitation company. Current owner Huron Capital and XLerate’s senior management team will retain minority equity stakes. Terms of the transaction were not disclosed. […] [Read More]

A few moments after his keynote presentation at the 25th Non-Prime Auto Financing Conference hosted by the National Automotive Finance Association, Cox Automotive chief economist Jonathan Smoke sat down with senior editor Nick Zulovich for a wide-ranging conversation. Smoke recapped the highlights of his presentation, including a popular song from the 1980s to summarize what’s […] [Read More]