With wholesale vehicle prices continuing to be strong and financial institutions ramping up recovery efforts to leverage this condition, Phil Hanks believes he and the rest of the team at Primeritus Financial Services are “catching the industry at the right time.” Hanks elaborated about the plans he and wholesale veterans Cam Hitchcock and Chuck Tapp […] [Read More]

LoJack Corp. released its third annual vehicle theft recovery report today, highlighting results from its 2011 recoveries. Officials tabulated that their system helped U.S. law enforcement recover 10,261 stolen vehicles as Hondas topped the list of imports recovered with the Accord ranking as LoJack’s most stolen and recovered vehicle.  The company indicated the Cadillac Escalade […] [Read More]

What is being hailed as a move to “harmonize the recovery industry,” MVTRAC recently reached an amicable transaction with Digital Recognition Network and Vigilant Video involving a license of MVTRAC’s license-plate recognition technology historical tracking patent. Officials declared the undisclosed terms of the transaction conclude all litigation between the parties. “We are pleased to announce […] [Read More]

Cars.com revealed Monday it has promoted one of its own to the position of chief technology officer. In this role, Kayne Grau — former director of development for the company — will “oversee the execution of the company’s business mission through development and deployment of applicable technologies, establish the company’s technical vision and lead the […] [Read More]

Based on the findings of the Temkin Group customer experience research and consulting firm, one particular Big 3 brand’s dealer body may have reason to celebrate. The firm analyzed the dealers of 10 auto brands and found that the nameplate with the strongest customer experience score throughout its dealerships was Chevrolet, which pulled in a […] [Read More]

Even with the prospect of rising gas prices looming before dealers, the U.S. auto industry seems to be on the rise, posting a double-digit overall sales increase this past month. The American International Automobile Dealers Association attributed the 15.7-percent sales increase to “pent-up demand in the auto market, a strengthening economy and new products from […] [Read More]

Late Thursday, General Motors and Wells Fargo & Co. created a long-term partnership to offer competitive financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in the contiguous states comprising GM’s U.S. West marketing region. Officials explained Wells Fargo will offer GM dealers a complete suite of products alongside the core offering of […] [Read More]

Though auto dealers reported varying sales results from region to region during the early part of 2012, one thing seems fairly clear: the prospects for the future looks bright. In fact, the Federal Reserve noticed widespread optimism among dealers in its latest Beige Book report “All districts reporting on sales outlooks conveyed optimism,” the Fed […] [Read More]

Manheim revealed this week it has completed its its planned purchase of Dealer Services Corp., which the company said  “reinforces its commitment to provide inventory financing to independent dealers.”  DSC, based in Carmel, Ind., is a used vehicle floor plan company for independent dealers that “complements Manheim’s current lending products provided through Manheim Financial Services,” […] [Read More]

The positive momentum being built in the auto industry doesn’t appear like it will end anytime soon, according to a recent study from Forbes Insight, which indicates the segment of the car business that will likely see particularly good fortunes is the luxury sector. And the luxury brands that are currently the kings of the […] [Read More]