During last week's NIADA Convention in San Antonio, NextGear Capital president Scott Maybee joined the  Auto Remarketing Podcast in one of the first in-person episodes of the show in over a year. In this episode, Maybee and Auto Remarketing senior editor Joe Overby discuss "The Way Forward for Independent Dealers," how an increasingly digital environment […] [Read More]

Vehicle trading platform TRADE X said Monday it has completed a financing round announced in late July, bringing in additional equity funding of $10 million (USD). Leading the additional equity funding are new investors that include EchoVC, Frontier Ventures and Upgrowth. TRADE X had announced a $35 million equity raise from lead investor Aimia Inc., in […] [Read More]

Akron Auto Auction has an award-winning auctioneer team — literally. As highlighted in the latest ServNet newsletter, Laura Mantle-Grunden, an auctioneer from Columbus Ohio, took first place and was declared the 2021 champion during the International Auctioneers Championship (IAC). The competition took place in July during the 72nd National Auctioneers Association Conference held in Minneapolis. […] [Read More]

Haig Partners highlighted how lucrative it has been to be a franchised dealer, especially since the midpoint of 2019. According to Q2 2021 Haig Report, the firm discovered through its project that tracks trends in auto retail and how they impact dealership values that for the 12-month period that ended June, average adjusted dealership profits […] [Read More]

The new president of the National Independent Automobile Dealers Association is celebrating a significant anniversary, too. During the 75th annual NIADA Convention and Expo, Joe McCloskey began his term as for 2021-22 by receiving the President’s Ring; an accomplishment that has arrived during his 50th year in the car business. The owner of McCloskey Motors […] [Read More]

It’s Brake Safety Week, an annual event organized by the Commercial Vehicle Safety Alliance (CVSA) to raise awareness among fleets of the importance of diligent brake maintenance. This year, the event comes at a particularly fitting time — as the economy reopens, schools go back in session and freeways flood with workers returning to the […] [Read More]

Work Truck Solutions recently expanded its partnership with Ryder System, a leader in supply chain, dedicated transportation and fleet management solutions. The partnership means Work Truck Solutions is offering Ryder used truck inventory on the commercial vehicle channel, Vehicle Acquisition Search Tool (VAST). The companies said these trucks will provide users with much needed inventory […] [Read More]

It’s been an eventful week for DealerPolicy. First, the insurance marketplace for automotive retail finalized a pair of industry alliances on Tuesday with F&I product provider JM&A Group and J.D. Power subsidiary Darwin Automotive. Then on Thursday, the Emerging 8 honoree announced its $110 million Series C investment led by the growth equity business within Goldman […] [Read More]

Having already forged relationships with companies such as Lincoln in connection with manufacturing and Chase to facilitate consumer financing, Rivian is making moves to become a publicly traded company. The electric truck maker announced on Friday that it has confidentially submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission relating […] [Read More]

Autos Drive America, which represents the U.S. operations of international automakers, reinforced its government affairs team to support the association’s growing advocacy efforts. On Thursday, Autos Drive America announced two new hires, as Rory Heslington has been named vice president of government affairs and Colton Hotary steps into a newly created role as director of […] [Read More]