CarLotz is launching a second hub in California, this time setting up shop in the nation’s second-largest metropolitan area. The consignment-to-retail used-car marketplace is opening a hub Monday in Pomona, Calif., that will serve Greater Los Angeles. This will complement the existing CarLotz hub in Bakersfield, which opened in June. Plans for the LA-area hub […] [Read More]

More financing options now are available for dealerships and their customers in Canada’s rural provinces. Last week, AFG Canada announced that Newfoundland and Labrador Credit Union (NLCU), a financial institution based in Newfoundland, has signed on to AFG Canada’s Leasing Program. AFG said the partnership with NLCU further reinforces its mission to expand into new […] [Read More]

Automotive technology entrepreneur Allen Dobbins appeared on the Auto Remarketing Podcast soon after announcing he was part of the investment AutoManager recently received from the Beekman Group, a private equity firm based in New York. Along with describing the path to successful software development, the founder and former chief executive officer of Autostar Solutions and […] [Read More]

Finding a used vehicle that’s ripe for healthy gross and a satisfied dealership customer is as challenging as ever, especially given the current landscape of wholesale prices and supply. So, Cox Automotive strengthened one of its crucial tools dealerships can use to build their inventories without having to depend on the wholesale market completely. The […] [Read More]

The Queen City is already home to two of the nation’s largest auto retailers in Sonic Automotive and Hendrick Automotive Group, each of which is headquartered in Charlotte, N.C. And soon Charlotte will have standalone used-car stores from two of the country's publicly traded dealer groups. AutoNation announced in its quarterly earnings report Thursday that […] [Read More]

Obviously, vehicles cannot be transported to and from auctions and dealerships without someone to load them and drive the hauler to the intended destinations. United Road is boosting its efforts to ensure that key person is readily available to meet vehicle transportation demands. This week, United Road president and chief executive officer Mark Anderson announced […] [Read More]

IAA reinforced its European resources on Friday via an acquisition. According to a news release, IAA — the presenting sponsor of Auto Remarketing’s 40 Under 40 honorees who will be recognized during Used Car Week — announced it has signed an agreement to acquire the stock of SYNETIQ, a leading integrated salvage and vehicle dismantling […] [Read More]

Investment funds continue to flow into all parts of the automotive industry, with a second development arriving in recent days having a connection to auto financing and retailing. This week, the CapStreet Group — a 31-year-old firm that invests in software, tech-enabled business services and industrial business services companies in the lower-middle market — announced […] [Read More]

This week, National Auto Care (NAC) senior vice president of mergers and acquisitions Courtney Hoffman announced the company’s 10th acquisition in the past 18 months. Now part of the company’s F&I agency portfolio is a firm positioned to help NAC gain more market share not only with auto dealers but RV and powersports retailers, too, […] [Read More]

In another big move by the rental car giant this month, Hertz named a chief information officer on Thursday. Hired as executive vice president and CIO is Tim Langley-Hawthorne, whose most recent post was as CIO of Hitachi Vantara, a subsidiary of Hitachi Ltd. Langley-Hawthorne was with Western Union prior to Hitachi, serving in several […] [Read More]