In addition to a couple moves on the franchised side of its operations, Sonic Automotive said Wednesday it has opened an EchoPark Automotive delivery center in Pensacola, Fla., the fifth new EchoPark location the retailer has announced in the past week. Sonic launched its first Florida location for EchoPark last year, opening a Tampa location […] [Read More]

Accuity pinpointed just how much it costs finance companies, banks and other firms involved in financial services when customer payments do not arrive as scheduled. According to the latest study from the LexisNexis Risk Solutions company, the impact of failed payments is estimated to have cost the global economy $118.5 billion in fees, labor and […] [Read More]

Repossessions agents now can secure more than just personal property from inside a repossessed vehicle. On Wednesday, the American Recovery Association (ARA) announced a partnership with Privacy4Cars, a technology company focused on identifying and resolving data privacy issues across the automotive ecosystem, to offer a suite of privacy, safety, security, and compliance services for its […] [Read More]

Servicing Solutions recently bolstered its team with the addition of Jeremy Hettman as vice president of sales, bringing nearly 20 years of consultative sales experience to the company. In this key role, Servicing Solutions said that Hettman will lead business development efforts in the Northeast region, with a focus on developing long-term relationships with clients […] [Read More]

In addition to some big names in automotive, the Series B financing round announced by ecommerce platform Rodo on Tuesday also includes a group tied to the star of the “Ride Along” movies. What now? Let me explain. Rodo’s $18 million Series B funding was led by Holman Enterprises and Evolution VC Partners, with participation […] [Read More]

The slowdown in sales at auto auctions in 2020 was not “completely unexpected,” amid a year that saw the remarketing industry and others like it adjusting to challenges from COVID-19. But several bright spots had the leadership of the National Auto Auction Association optimistic as the trade group released its 24th annual membership survey on […] [Read More]

After announcing the opening of three EchoPark Automotive locations last week, Sonic Automotive has expanded its standalone used-car store program yet again. And Lithia & Driveway continues its rapid M&A activity. Starting with the Sonic news, the retailer said Tuesday it has opened an EchoPark delivery center in Louisville, Ky. “The demand for a modern, […] [Read More]

Earlier this month, CARFAX Canada launched its new CARFAX for Life service retention program that’s designed to give dealerships a way to boost customer loyalty and repeat service business. Customers of dealerships that are enrolled in CARFAX for Life receive a free Vehicle History Report on their respective vehicles as long they own the car, and […] [Read More]

TRADE X, which is an Ontario-based global cross-border B2B vehicle trading platform, announced a $44 million CAD ($35 million US) equity investment from Toronto-based holding company Aimia on Tuesday. TRADE X may issue an additional $10 million (USD) of convertible preferred shares to other strategic investors in a subsequent holding no later than Aug. 6. […] [Read More]

Continuing a buzz of M&A activity among auto retailers, Zeigler Auto Group said Monday it has purchased four stores in Wisconsin from Home Run Auto Group, a move that marks its first acquisition in the state. The four acquired stores include Honda of Racine, Toyota of Racine, Kenosha Subaru, and Racine Hyundai, which have been […] [Read More]