As Auto Remarketing Conferences continues to put together agendas for 2012 Used Car Week, one coming together quickly is the second-ever Re3 Conference, which is scheduled for Nov. 14.
Organizers recently revealed the day-long event that delves into the recovery, repossession and remarketing fields, will include an opening general session titled, “The State of the Re3 Industry-Government Regulation & Market Reports. Insight, Perspective & Ideas from Top Auto Finance Executives.”
In looking back at the first half of this year, as well as the second quarter, specifically, Penske Automotive Group had double-digit revenue rises to report, along with significant growth in both new and used sales.
For the second quarter of this year, revenue increased 19.2 percent to $3.4 billion, and for the first half of 2012, revenue increased 18.6 billion to $6.6 billion.
The company noted the revenue surge for Q2 was driven by an increase in total retail unit sales of 20.9 percent.
NAMAD Woman of the Year Machelle Williams with VW Group of America's Jonathan Browning (left) and Mike Beamish
It was announced this week that an executive from Volkswagen Group of America has been named “Woman of the Year” by the National Association of Minority Automobile Dealers.
The recipient of the award, Machelle Williams — general manager of organizational development and diversity, human resources at VW Group of America — was selected for her “industry leadership and outstanding contributions to advancing diversity and inclusion in the workplace,” officials noted.
In reviewing last week’s activity in the wholesale lanes, Black Book’s Ricky Beggs noticed something that had not been spotted in two months.
Speaking about the 14 used-truck categories that Black Book monitors, Beggs noted that “the compact pickup trucks actually increased by $12. This is the first positive movement change in the past nine weeks (for any truck segment)."
Overall, the average change for the car segments was a downward adjustment of $51; for trucks, it was a decrease of $43.