November 2021

AiM to provide inspections for North American transactions on TRADE X cross-border platform

Tuesday, Nov. 02, 2021, 10:30 AM TORONTO –  TRADE X, a Canada-based cross-border automotive trading platform, said Tuesday it has teamed up with Alliance Inspection Management for used-car inspections in North America. Under the partnership, AiM will be the inspection provider for all TRADE X transactions in the U.S. and Canada. “AiM’s third-party condition reporting will help us serve our customers better by providing actionable intelligence for buyers and sellers, increasing buyer comfort with cross-border trading,” TRADE X executive vice president and chief operating officer Luciano Butera said in a news… Read More »AiM to provide inspections for North American transactions on TRADE X cross-border platform

Stellantis completes First Investors acquisition

AMSTERDAM –  First Investors Financial Services Group now officially is a captive finance company. Stellantis announced late on Monday that it completed the acquisition of the company that previously specialized in subprime auto financing. As a result of the transaction first revealed on Sept. 1, First Investors now will be known as Stellantis Financial Services US Corp. With conditions agreed upon and within the period indicated at signing, Stellantis highlighted in a news release that it now has the foundation to grow a full-service captive finance arm. Stellantis Financial Services will… Read More »Stellantis completes First Investors acquisition

Auto Remarketing’s 2021 CPO Dealer of the Year: Roger Beasley Mazda South

Monday, Nov. 01, 2021, 04:04 PM At Roger Beasley Mazda South and its sister stores within the Roger Beasley Imports group, certified pre-owned is not a last-ditch effort or a “save-a-deal” strategy.  In fact, it’s presented right up front as a viable option — even when the customer is looking for a new car. “On the first or second pencil, however you would like to look at it, with a new car or a used car, the salesman will go out and get a comparable bid,” Jim Bagan, who is… Read More »Auto Remarketing’s 2021 CPO Dealer of the Year: Roger Beasley Mazda South

September lease-transfer approvals stay steady year-over-year

Monday, Nov. 01, 2021, 03:32 PM CINCINNATI –  Swapalease.com determined the approval rate in September for site users taking over a vehicle lease came in at the same level as it was a year ago. Site officials said last week that the September rate approval stood at 67.6%. While maintaining the pace year-over-year, Swapalease reported that the rate actually softened a bit on a sequential basis since the August approval rate was 71.3%. Swapalease isn’t too concerned about the drop from the summertime since site officials see that Americans are now contemplating upgrading… Read More »September lease-transfer approvals stay steady year-over-year

NAAA recognizes Auctioneer of the Year winners

Monday, Nov. 01, 2021, 03:12 PM MONCKS CORNER, S.C.  –  The National Auto Auction Association recognized Auctioneer of the Year Award winners last week at Charleston Auto Auction during an event that also included a visit from South Carolina Gov. Henry McMaster. Receiving the awards on Friday were Billy Carver and Bennie Smoak. The award is named after Bernie Hart, who was the executive director of NAAA for more than 30 years before retiring in 1988. Smoak has auctioneered at a litany of sites that includes Charleston Auto Auction, Summerville… Read More »NAAA recognizes Auctioneer of the Year winners

Asbury adds another Colorado dealership

IRVINE, Calif. –  While not quite on the same level as the bold acquisition of the Larry H. Miller Dealerships and Total Care Auto, Asbury Automotive Group is continuing to build its dealers portfolio in the Rocky Mountains. According to a news release from Performance Brokerage Services that helped to broker the transaction, Asbury added to its footprint in Colorado by purchasing Arapahoe Hyundai and Genesis of Arapahoe in Centennial, Colo., from the Zinsmeister family. The announcement highlighted that Arapahoe Hyundai has been serving its community for almost 20 years and… Read More »Asbury adds another Colorado dealership

PODCAST: NADA president and CEO Mike Stanton

CARY, N.C. –  The top leaders of Cherokee Media Group and the National Automobile Dealers Association shared a conversation for this episode of the Auto Remarketing Podcast. In this wide-ranging discussion, Bill Zadeits asks Mike Stanton about how his past positions prepared him to lead NADA, the emergence of electric vehicles and why some parts of the used market “just don’t make sense right now.” To listen to the episode, 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… Read More »PODCAST: NADA president and CEO Mike Stanton

Resolvion makes 3 executive leadership changes

CHARLOTTE, N.C. –  Resolvion began a new month by announcing a variety of high-level executive moves on Monday. The provider of repossession management, skip-tracing, heavy equipment recovery, remarketing, license plate recognition and specialty recovery said the strategic leadership changes involve: — Scott Darling, who now is chief executive officer— Jon Faulkner, who now is chief financial officer— Mike Levison, who now is vice chairman Darling now is responsible for overseeing the overall performance, growth and strategic direction of the company. Darling — who is among the 140 executive and experts set… Read More »Resolvion makes 3 executive leadership changes