A day before Thanksgiving, Hertz Global Holdings announced that it has entered into a stock and asset purchase agreement to sell substantially all of the assets of its wholly owned subsidiary, Donlen Corp. However, a bankruptcy court has to approve the deal that could be valued as much as $875 million. Should the deal go […] [Read More]

Earlier this month, Capital One and Oxx were among the investors to inject $13 million in funding into Lightico. Now the provider of the platform built so customers can interact digitally with auto-finance companies and other financial services firms is looking to use those financial resources to continue to cultivate its client base. Lightico recently […] [Read More]

S&P Global and IHS Markit highlighted nine reasons why the definitive merger agreement they announced on Monday is going to be beneficial for stockholders and the clients that use their automotive and finance data. According to a news release, S&P Global and IHS Markit will combine in an all-stock transaction that values IHS Markit at […] [Read More]

J.D. Power has closed its purchase of ALG, a deal first announced in August. The company said in a news release Monday that acquisition of the TrueCar subsidary "will dramatically broaden its vision of automotive residual value forecasting, especially important as the industry prepares to launch a wave of new electric vehicle (EV) models and […] [Read More]

AAA projected a decline of at least 10% in travel for Thanksgiving — the largest one-year decrease since the Great Recession in 2008. For individuals who did go somewhere to see family and friends for the holiday, AAA Travel senior vice president Paula Twidale said the majority went by car, “which provides the flexibility to […] [Read More]

Enterprise Holdings is enhancing its cleaning procedures through a new initiative with Clorox. Enterprise says the collaboration reinforces its Complete Clean Pledge, which the company implemented to help customers feel confident as they begin to travel again. Enterprise Holdings’ Complete Clean Pledge is a commitment to health and safety practices throughout all of its operations. […] [Read More]

In the "about" section of its website, Orbee Auto describes itself as a company that is "on a mission to streamline and automate automotive dealership digital marketing." Atul Patel, who is Orbee's co-founder and chief operating officer, joins the Auto Remarketing Podcast to discuss the inspiration behind the company, its efforts with industry associations to help […] [Read More]

Sarah Ruzicka is the new general manager at the West Michigan auction location of America’s Auto Auction. Ruzicka has been with West Michigan Auto Auction since 2011, and Carl Miskotten owned the auction at the time. In becoming general manager, Ruzicka follows Miskotten, who purchased the facility in 1997. Miskotten sold the auction to America’s […] [Read More]

You can expect November to finish with 3 million used-vehicle sales, according to the latest forecast from ALG and TrueCar, which would mark a 1% year-over-year decline.    The drop from October would be even more pronounced (11%).   In a Data Point report released Nov. 18, Cox Automotive indicated that a 30-day period covering […] [Read More]

Black Book suspects the current surge in coronavirus cases happening nationwide likely will impact one particular segment of the wholesale market. Analysts pinpointed the specific area in their latest COVID-19 Market Insights report released on Tuesday, saying, “New restrictions have gone into place around the country, and this has and will continue to have an […] [Read More]