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]

Canadian Black Book and TRADE X, a global B2B cross-border vehicle trading platform, have entered a data integration agreement. As part of that deal announced Thursday, CBB’s historical post-transactional wholesale valuation and transactional data and its proprietary enhanced vehicle matching VIN decoding capability will be integrated into TRADE X’s vehicle trading software. “TRADE X is […] [Read More]

The rapidly growing online retailer Carvana entered two new Arkansas markets this week, expanding into Fayetteville and Fort Smith. Those represent its fourth and fifth markets in the state, respectively. “Growing our footprint in Arkansas helps us bring 'The New Way to Buy a Car' to even more customers looking for an easy, transparent car buying experience,” […] [Read More]

Toronto-based online car retailing platform CarDoor has received  $3 million in seed financing. The new injection of funding comes from Framework Venture Partners.  CarDoor said the latest financing will help the company expand its online platform and service to "reach across Canada in upcoming months."  Here's a little more about CarDoor, launched earlier this year […] [Read More]

CarGurus said Wednesday it has brought its CarGurus Instant Max Cash Offer program — which allows dealers to acquire used cars online from consumers — to five more states. CarGurus Instant Max Cash Offer launched in late July and was initially available in Florida, Massachusetts and Texas. The company has now added Georgia, Michigan, Pennsylvania, Connecticut […] [Read More]