XLerate Group will have a new majority owner. Private equity firm Brightstar Capital Partners announced Thursday it has entered a definitive agreement to acquire a majority stake in the auto auction and remarketing facilitation company. Current owner Huron Capital and XLerate’s senior management team will retain minority equity stakes. Terms of the transaction were not disclosed. […] [Read More]

A few moments after his keynote presentation at the 25th Non-Prime Auto Financing Conference hosted by the National Automotive Finance Association, Cox Automotive chief economist Jonathan Smoke sat down with senior editor Nick Zulovich for a wide-ranging conversation. Smoke recapped the highlights of his presentation, including a popular song from the 1980s to summarize what’s […] [Read More]

Just over a month after adding Subaru and Volkswagen stores in Grand Junction, Sonic Automotive has expanded in Colorado yet again, this time making a move in Glenwood Springs. The retailer said Wednesday it has purchased Audi Glenwood Springs and Glenwood Springs Volkswagen. In late July, Sonic announced it had purchased Grand Junction Subaru and […] [Read More]

So much of our daily life is filled with interconnected digital experiences, and more so when making a purchase. Tools, software platforms and services create a highly connected digital ecosystem, which can facilitate a positive experience throughout a car buyer’s journey, while also delivering the transparency consumers desire. Creating a digital ecosystem is key to […] [Read More]

CarMax is ramping up its presence in the Dallas area, including plans for a new technology innovation center, auction facility and remote customer experience center. The used-car retailer plans to hire for more than 300 positions as part of this growth. Starting with the new auction operations, CarMax is centralizing its store auctions in the […] [Read More]

Cox Automotive Mobility said Wednesday it has purchased Spiers New Technologies, a service provider for electric vehicle battery lifecycle management with operations in the U.S. and Europe. The pairing of the companies is part of Cox Automotive Mobility’s new end-to-end global EV battery service network, where the company offers high-voltage battery solutions to dealers, automakers […] [Read More]

The wholesale used-car market showed some muscle last week, both in terms of prices and sales rates at the auctions. According to Black Book’s latest Market Insights report, car values reversed course and showed an increase last week, while the depreciation in truck segments was less than a third of what it was the prior […] [Read More]

IAA announced a trio of big East Coast moves on Tuesday. The company broke ground on IAA Elkton, which will be its fifth Maryland branch, as well as IAA Monticello, which will be its seventh New York location and support the Hudson Valley market. IAA also is expanding in the Long Island, N.Y., area. “As […] [Read More]

As reported in an episode of the Auto Remarketing Podcast last week, Fair is shifting away from vehicle subscriptions and is relaunching with a new model early next year. The company — which will have a new official name of Fair Technologies — will instead offer an end-to-end ecommerce marketplace where consumers can find vehicles […] [Read More]

Lithia & Driveway has expanded into Canada. The U.S. retailer, which is publicly traded on the NYSE, announced Tuesday it has purchased Toronto-based Pfaff Automotive Partners, representing Lithia’s first-ever acquisition outside of the U.S. Lithia, which is based in Oregon and has 263 stores in 24 U.S. states, is buying Pfaff’s leasing business, as well. The […] [Read More]