Just like many of the companies it serves, PassTime is diversifying its portfolio. On Thursday, the provider of asset tracking solutions announced it has formed a partnership with Sky Monitor GPS Americas and managing director Mike Southerland. As a market partner, Sky Monitor GPS will bring PassTime asset tracking solutions to a variety of new […] [Read More]

Canadian Black Book has named a new director of business development. Hired for the role was James Hancock, whose background includes 14 years working with a luxury automaker in Canada and the U.S. Hancock has spent the last eight years working in the areas of residual value risk, lease portfolio management and remarketing off-lease vehicles. […] [Read More]

A jump in bankruptcies lasted just two months before returning to levels seen during most of last year. Epiq recently released its May bankruptcy filing statistics from its AACER bankruptcy information services business, reporting that new filings for May dropped to 34,734 across all chapters. [Read More]

Protective Asset Protection’s latest industry survey focused on how the pandemic impacted the sales of F&I products both online and at the dealership. Protective Asset Protection commissioned the online survey during March and took the pulse of nearly 500 F&I and dealership executives across the U.S. According to the feedback, approximately a quarter of respondents […] [Read More]

IAA announced another enhanced strategic agreement with Dealertrack to provide electronic registration and titling services About a year ago, these companies said these services became available in North Carolina. This week, the availability arrived in Ohio to facilitate the digital transfer of total loss titles. IAA and Dealertrack highlighted that this new agreement came together […] [Read More]

In addition to announcing a new advocacy campaign in lieu of its annual Washington Fly-In, the American International Automobile Dealers Association said Tuesday it has added Citrin — a provider of porter, car wash and mobility services to dealers — as an Affinity Partner. With the company as an AIADA Affinity Partners, members can receive, […] [Read More]

For decades, auto dealers have been constantly reinventing their advertising strategies to one-up their local competitors and entice car shoppers into their showroom. These ads have traditionally had a distinct, up-beat tone broadcast over radio and television channels, along with full-page ads in the Saturday newspaper promoting exciting deals on new and used cars and […] [Read More]

In recent years, an impending wave of off-lease supply was among the top stories in automotive. Not so much this year. According to the latest quarterly report from RVI Analytics, there was a 1.8% year-over-year drop in off-lease volume during April, and further softening is expected. “Given the low supply of new vehicles as a […] [Read More]

Swapalease.com shared more evidence that the auto-finance market appears to be stable. On Wednesday, site officials reported vehicle lease credit applicants on Swapalease.com registered a 69.9% approval rate in May. While the approval rate marked a small decrease from the 70.7% approval rate in April, it’s also higher than the same month last year when […] [Read More]

Floorplan providers are taking extensive actions nowadays to help independent dealerships secure the inventory they need as the wholesale market is impacted by soft volumes and soaring prices. After moves by Cox Automotive’s NextGear Capital as well as KAR Global’s AFC, ACV on Wednesday announced new title-dependent products available through its financing arm, ACV Capital. […] [Read More]