America’s Auto Auction has named a new assistant general manager for its Virginia Beach, Va., location, hiring Derek Simmerman to the position at America’s Auto Auction Virginia. Simmerman has spent the last seven years in the independent auto auction community, where his background includes fleet/lease management, customer service and marketing. He came over to America’s […] [Read More]

This week, Foundation Automotive and Group 1 Automotive each described their latest charity endeavors. Beginning with Foundation, two of its stores — Kramer Chevrolet and Kramer Subaru — hosted their 15th annual Military and Customer Appreciation Event and Car Show on Sept. 11 with all proceeds going directly to the North Dakota National Guard Emergency […] [Read More]

In another Auto Remarketing Podcast episode recorded in person during Used Car Week, DRN | MVTRAC president Jeremiah Wheeler returned to share insights about what the newest company data is showing. Wheeler touched on how transient people still are as well as how license-plate recognition data is continuing to help find vehicles that need repairs […] [Read More]

This week, industry veterans Brian Reed, Steve Greenfield, Andrew Gordon and Pete Batten formed a team they’ve called Automotive Market Data. And the team launched what it believes is the first-ever digital retailing market share database to inform dealers, investors and vendors — in real-time — about the automotive digital retailing landscape. According to a […] [Read More]

AutoBuy provides a marketplace for dealers to buy used-car inventory sourced from consumers. Mark Maida, co-founder and chief executive of the company, joins the show to talk about the business model and how it's different than other car-buying models, the expansion of its footprint and more. To listen to the episode, click on the link available below, […] [Read More]

Cherokee Media Group recognized its 2021 Used Car Awards winners, a program sponsored by KAR Global, at Used Car Week in November. The  conference was held Nov. 15-18 at Red Rock in Las Vegas. Spotlighted during the Used Car Awards Luncheon, also sponsored by KAR, were Andy Mohr Ford, the 2021 Franchise Dealer of the Year, […] [Read More]

TRADE X, a Canada-based cross-border automotive trading platform, has lined up more debt financing. The company said Tuesday it has secured two additional asset-backed lines of credit, both of which are $25 million (USD) with accordion features to expand to $50 million. TRADE X said the financing will be put toward its “mission to simplify […] [Read More]

It’s been quite a week for Solutions by Text, provider of a text messaging platform for consumer financial services institutions. First, the company announced raising of $35 million in growth financing. Edison Partners led the transaction with participation from Stifel Venture Bank, a division of Stifel Bank. The company also announced the appointment of payments […] [Read More]

More evidence of how rising wholesale and retail prices are landing within finance company portfolios arrived on Thursday. According to Experian’s latest State of the Automotive Finance Market report, the average amount financed for a used vehicle jumped more than 20% year-over-year during the third quarter. [Read More]

AutoCanada has more than doubled its presence in Ontario with its latest acquisition. The Edmonton-based dealer group said Wednesday it has completed its purchase of 11 Autopoint Group dealerships in southwestern Ontario. AutoCanada now has 18 stores in the province. The Autopoint locations in the purchase include Honda, Acura, Nissan, Infiniti, Subaru and Kia stores […] [Read More]