NOTE: Updated with more details about Akron Auto Auction's purchase of Value Auto Auction. Whether it’s among dealer groups, auctions, tech providers or beyond, June has accelerated the auto industry’s momentum in the buy-sell/M&A space. Lithia Motors & Driveway, for instance, continued its aggressive expansion Tuesday, announcing it has purchased two luxury dealerships in Van […] [Read More]

Christina Potts said she feels “like I’m coming home.” America’s Auto Auction announced that Potts has been named the company’s national client accounts manager. A native Texan with 15 years of auction industry experience, the company highlighted Potts brings with her a strong background in operations, fleet/lease management and client relationships. “We are so fortunate […] [Read More]

It’s not just the dealer groups that are heating up the M&A activity: June has kicked off with major moves from the auto industry software giants. Less than a week after CDK Global purchased Roadster, Reynolds and Reynolds announced Tuesday it has bought Gubagoo, a provider of “conversational commerce” and retail solutions for dealers and automakers. […] [Read More]

Automotive Ventures supports automotive technology entrepreneurs, businesses and investors with industry-specific resources, strategic consulting and extensive connections. And now the firm has more financial resources to complete those tasks and more. On Tuesday, Automotive Ventures chief executive officer and founder Steve Greenfield announced the final closing of the firm’s inaugural venture fund, Automotive Ventures Fund […] [Read More]

Spring has brought a blooming certified pre-owned vehicle market in Canada. As the CPO market continues to bounce back, automakers were seeing a lot of good signs last month.  Here's how some of the CPO programs are faring, based on sales reported to Auto Remarketing Canada.  In May, Subaru Canada nearly doubled its CPO sales […] [Read More]

Spireon, a provider of risk mitigation services and other technologies to subprime auto finance companies and buy-here, pay-here dealers, announced the promotion of one of its executives to be chief technology officer. Previously Spireon’s senior vice president of engineering, the company said through a news release distributed on Tuesday that Prem Hareesh now is CTO. […] [Read More]

For independent dealers with cash flexibility, AFC is rolling out a program to leverage that liquidity when securing inventory during these unprecedented times in the wholesale market. On Tuesday, the business unit of KAR Global announced that it now offers cash buyers what AFC believes is a convenient, flexible and simple floorplan solution through its […] [Read More]

May was the fourth straight record month for the Manheim Used Vehicle Value Index, which hit the 200 mark for the first time ever, spokespeople with parent company Cox Automotive confirmed. The index reading for May was 203.0, which beat year-ago figures by 48.2%. [Read More]

Digital Dealership System, or DDS, a dealer screen marketing company, is the newest MarketCenter supplier for Chrysler, Dodge, Jeep, Ram and Fiat dealerships. The company has a dealer list of over 1,000 installations complete throughout the U.S. What’s been most popular among its offerings is the company’s messaging on digital signage and kiosks, which works to […] [Read More]

Carsharing marketplace for ridesharing and food/package delivery services, HyreCar Inc. is joining the Russell 3000 Index, effective when the the U.S. market opens on June 28, according to a preliminary list of additions posted Friday. “We have worked hard to get to this point, taking the company from concept to now joining the Russell 3000, […] [Read More]