May 2021

Friday, May. 28, 2021, 02:39 PM DALLAS –  Copart welcomed a new addition to its board of directors in a move that was effective Wednesday. Joining the leadership group for the online salvage auction company is Cherylyn Harley LeBon, who currently serves as a partner with the law firm of Dunlap, Bennett & Ludwig based in Washington, D.C.  She is a member of the firm’s corporate and government contracts practice. Prior to joining Dunlap, Bennett & Ludwig, LeBon served for 10 years as president and chief executive officer of KLAR Strategies,… Read More »Copart adds new board member with significant federal government experience

Friday, May. 28, 2021, 11:47 AM CARY, N.C. –  Even as vehicle supply remains short and prices hit record highs, demand continues to surge in the used-car market. TrueCar was forecasting that May’s retail used-vehicle would end up beating year-ago figures by 13% and besting April’s total by 4%. The firm is projecting that once final numbers are tallied, there will have been 4.0 million used-car sales in May. This would follow what was already such a strong April, a month that saw used-vehicle sales climb 69% from April 2020, according… Read More »Used-car sales likely up 13% from May 2020

Friday, May. 28, 2021, 10:57 AM CARMEL, Ind., and AUSTIN, Texas –  Probably no one would have begrudged Sara Edgington if she exclaimed an extra loud “Yee-haw” during the 2021 Texas Auctioneers Association Senior Bid Calling Championship. The general manager for Texas Lone Star Auto Auction became the first woman to win the competition, which was held culminated on Saturday at the Kalahari Resort & Conference Center in Round Rock, Texas. According to a news release from the XLerate Auction Group, Edgington competed on Friday and was named champion at the… Read More »Texas Lone Star AA GM becomes first woman to win Texas Auctioneers Association championship

IRVINE, Calif. –  It’s been a busy month for the team at Performance Brokerage Services, as the automotive dealership brokerage firm announced its involvement in two more closings this week. After being involved in the transaction of a Toyota store in Washington, the firm also helped to facilitate the moves involving a Minnesota Subaru rooftop and a Chrysler Dodge Jeep Ram dealership. According to separate news releases, Performance Brokerage Services advised Scott Bement in the sale of St. Cloud Subaru in St. Cloud, Minn., to an unspecified buyer. The firm also… Read More »Dealer acquisition roundup: Minnesota Subaru store & Chrysler Dodge Jeep Ram dealership gain new owners

CARY, N.C. –  Originations aren’t the only part of auto financing accelerating nowadays. Stephen Bisbee, founder of eOriginal, which is now part of Wolters Kluwer, appeared on the Auto Remarketing Podcast to explain why securitizations are accelerating again as an attractive option for the investment world. To hear the conversation, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  Source Article

Friday, May. 28, 2021, 10:38 AM DALLAS –  Vroom has launched a “Last Mile” hub in the Dallas area that gives customers in a 70-mile radius “a more customized driveway experience.” The online retailer has offered vehicle delivery in the Dallas market since 2012, but is now offering more of a concierge-style service there through the hub, which is located in Euless, Texas. Vehicles are delivered directly to the shopper’s driveway by a customer advocate using a Vroom-branded truck. The advocate demonstrates the vehicle to the buyer, as well. Dallas has… Read More »Vroom adds ‘Last Mile’ hub in Dallas area

Thursday, May. 27, 2021, 01:46 PM The used-car market is usually a steady one, which makes this year’s price surge all the more “unparalleled,” as iSeeCars.com details in an analysis released this week. For instance, used-vehicle prices climbed just 0.1% year-over-year in April 2020, according to iSeeCars. In April 2019, they dipped just 0.2%. However, in April of this year, there was a 16.8% year-over-year spike in used-car prices. And while a near-17% jump is nothing to sneeze at, some models nearly doubled that hike. Source Article

CARY, N.C. –  AAA Travel expects a significant rebound in the number of Americans planning to travel this Memorial Day holiday weekend. And if they haven’t already visited your service drive for maintenance, customers might be coming soon since AAA said more than 37 million people are expected to travel 50 miles or more from home, an increase of 60% from last year when only 23 million traveled, the lowest on record since AAA began recording in 2000. But consumers already might have stretched their budgets to scratch the travel itch… Read More »With travel rebounding, DigniFi & TruVideo partner to overcome consumer concerns about vehicle repairs

Thursday, May. 27, 2021, 11:37 AM TORONTO –  Canada Drives announced Thursday it has expanded its online vehicle-shopping and “to-your-door” delivery platform into Ontario. It debuted the platform in British Columbia last fall, a spokesperson confirmed, and plans to continue to expand throughout the country, with its sight set on being able to serve 80% of Canadians by the end of 2022. Car buyers can use the Canada Drives platform for vehicle research and selection, and then pay for the car or arrange financing. They can also sign documents for the… Read More »Canada Drives expands online car-buying platform to Ontario

Thursday, May. 27, 2021, 11:16 AM ST. LOUIS –  Two months after ACERTUS named a new chief executive officer, the tech-driven automotive logistics and services company this week announced the professional who now will be serving in the newly created position of chief revenue officer. Tasked with leading global sales operations, driving revenue growth and supporting ACERTUS’ ongoing mission to be a leader in automotive logistics is Paul Malone. “We have built a high-velocity, world-class sales organization and with Malone at the helm, we are well-positioned to enter our next phase… Read More »ACERTUS creates & fills chief revenue officer position