KAR Global said Thursday it has completed its $450 million all-cash purchase of CARWAVE. The purchase of the online wholesale platform, initially announced in August, adds to the company’s “fast growth in the dealer-to-dealer segment, accelerates profitability, positions the company to achieve its long-term goals and enhances the company’s differentiated combination of digital marketplaces and […] [Read More]

To say AUL Corp. has built some momentum during its three decades in F&I industry might be a bit of an understatement. After taking 28 years to sell its 2 millionth F&I policy, AUL president and chief executive officer Jimmy Atkinson announced this week that it has taken only 32 months to reach its 3 […] [Read More]

APCO Holdings can say it’s one of the most successful firms in the Southeast’s largest market since now the F&I provider has an accolade to back up the assertion. According to a news release, the Atlanta Business Chronicle has named APCO Holdings as one of Atlanta’s 50 Largest Private Companies. The orchestrator of the EasyCare, […] [Read More]

Especially when manufacturing capacity increases to make more new models available, Merchants Fleet now has more financial resources to take advantage of the opportunity. On Wednesday, the fleet management company announced a major expansion of its core member funding group to include some of the top banks in the world, enabling the Merchants Fleet to […] [Read More]

Advantage GPS received good news from a federal regulator this week. The provider of modern data analytics and advanced risk mitigation solutions for vehicle finance professionals announced the U.S. Patent and Trademark Office (USPTO) has granted United States Patent No. 11,102,615 for the company’s “Unified Device Access” technology. Advantage GPS highlighted that this latest patent, […] [Read More]

The presenting sponsor of Repo Con at Used Car Week made a major move a month before the industry gathers in Las Vegas. Allied Solutions, one of the largest providers of insurance, financing, risk management and data enabled products to financial institutions, has acquired the majority interest in TrxNow, a technology solutions provider for roadside […] [Read More]

It was still practically the heart of summer the last time used-car prices didn’t rise in Canada. Pushed by softening inventory levels, wholesale vehicle prices in Canada have now climbed nine straight weeks, according to Canadian Black Book. Calling the market “red-hot,” CBB said in latest weekly report, “All vehicle segments saw prices rise for the […] [Read More]

In a bit of irony, strong demand may indirectly be keeping the certified pre-owned sales from achieving “massive growth.” Still, year-to-date CPO sales through the third quarter are beating year-ago figures by 11% and outpace 2019 numbers by 3%, according to a Data Point report from Cox Automotive that analyzed data from Motor Intelligence. The […] [Read More]

The American International Automobile Dealers Association (AIADA) is seeking nominations for one of the highest honors the organization gives. AIADA asked for nominees to be considered for the David F. Mungenast Sr. Lifetime Achievement Award, which is presented each year during AIADA’s annual meeting and luncheon to a member of the international nameplate auto retail […] [Read More]

For Mazda dealerships in need of qualified technicians for their service drive or reconditioning center, help appears to be on the way. On Wednesday, Lincoln Educational Services Corp. introduced Mazda Automotive Student Training (MAST) at its Union, N.J., campus. School officials said through a news release that students who are enrolled in automotive technology training […] [Read More]