Manheim has created a new vice president of industry partnerships position, and filling that role is a longtime company leader who is next in line to be president of a trade group that Manheim will continue to work with through this position. Named to the post is Julie Picard, who will be the National Auto Auction […] [Read More]

A banking merger first announced back in February finally received a blessing from federal regulators on Tuesday. The Federal Reserve Board met and approved the application by BB&T Corp. of Winston-Salem, N.C., to merge with SunTrust Banks of Atlanta, becoming Truist Financial Corp., as the potential provider for dealerships’ commercial financing and indirect auto financing needs. […] [Read More]

Resolvion — the newly formed provider of loss mitigation services stemming from the recent merger of ALS Resolvion and Del Mar Recovery Solutions — added a well-known executive to its board. Resolvion announced on Wednesday that Tim Russi, former vice chairman of Ally Auto Finance, has joined the company’s board of directors. Russi joins Resolvion […] [Read More]

According to data released back in June by the Pew Research Center, 81% of Americans now own smartphones. That’s up from just 35% Pew analysts discovered during their first survey of smartphone ownership conducted in 2011. Trends like that are having a significant impact on auto financing, as the recent findings from the J.D. Power […] [Read More]

Among the festivities during Used Car Week 2019, the seventh annual Vincentric Best Certified Pre-Owned (CPO) Value in America Awards were announced. Leading the way was Ford, which collected six model-level awards. Lexus and Subaru also demonstrated strong CPO value with five and four model-level awards, respectively. The best in class performance by Ford Vans […] [Read More]

Reconditioning quickly can become complicated depending on the magnitude of servicing a vehicle might need and how much a dealer wants to spend on getting that unit out to the front line. Mobile Tech RX rolled out special offers for its solution on Wednesday aimed at creating a dashboard so reconditioning technicians can make decisions more […] [Read More]

Land Rover has now won the top premium brand position in ALG’s Residual Value Awards six times, as the TrueCar analytics subsidiary released the results of this annual awards program Monday. Taking top honors on the mainstream side was Honda, which led all mainstream brands with five category wins. Subaru was second among mainstream brands […] [Read More]

“We continue to be bullish on used.” AutoNation chief executive officer and president Cheryl Miller was answering a question about the AutoNation USA used retail stores from a participant in AutoNation’s quarterly earnings conference call on Oct. 29. In the third-quarter earnings calls for AutoNation and other publicly traded dealer groups, things were looking bullish […] [Read More]

The combined same-store new-car sales for the six publicly traded dealer groups were fairly steady in the third quarter, falling a shade under 1% year-over-year, according to company filings and Cox Automotive estimates. But their used-car sales? Same-store sales were up almost 11%, according to the same data set. As such, “the trend in our […] [Read More]

Autumns have been atypical in the auction lanes in recent years with wholesale prices behaving in ways not usually seen. Well, this fall has returned to more traditional patterns, according to the latest Black Book Market Insights report. In fact, Black Book executive vice president of operations Anil Goyal said, “Truck segments declined more than […] [Read More]