Lake Charles Auto Auction finished 2018 on quite a high note. On Dec. 12, the operation located in Lake Charles, La., celebrated the grand reopening of its new main office building that consists of 4,000 square feet. The auction offered more than 700 vehicles and sold more than 400 units with an average value of […] [Read More]

During a keynote presentation at last year’s convention hosted by the National Independent Automobile Dealers Association, Cox Automotive chief operating officer Mark O’Neil remarked how a 1960s cartoon, "The Jetsons," foretold the future with things like flying cars and other machines that completed tasks for people. Another development surfaced this week toward a world O’Neil […] [Read More]

Traditionally, the 10th anniversary is celebrated with gifts of tin or aluminum. Well, Digital Recognition Network (DRN) closed 2018 with a series of critical milestones, representing all kinds of metal found during its 10-year history. The artificial intelligence and data analytics company that provides vehicle location data and analytics to auto finance companies highlighted its […] [Read More]

With its annual Vehicle Finance Conference coming later this month, the American Financial Services Association (AFSA) announced a trio of promotions reflecting expanded expertise and increased responsibilities in both its federal and state government policy functions. The moves AFSA made this week include: — Celia Winslow, formerly director of legal and regulatory affairs, becomes the […] [Read More]

A New York City-based online dealership now can help its customers with dings, dents and other unsightly ramifications from crashes and mishaps. Signature Auto Group this week announced it will now be administering full services through its body shop partner, Auto Group Collision. Through the new arrangement, Auto Group Collision will now be able to […] [Read More]

CarMax’s used-vehicle unit sales in its fiscal third quarter were down 1.2 percent against comparable stores in the year-ago period. But pre-tax earnings and earnings per share for the retailer were up, something president chief executive Bill Nash called a “testament to the strength of our diversified business model,” in a news release recapping CarMax’s […] [Read More]

A winner of Auto Remarketing’s Certified Pre-Owned Dealer of the Year Award was the location for Manheim’s latest growth initiative in the Midwest. In a move the company described as being “committed to meeting local dealer needs and establishing operations in underserved markets,” Manheim established Manheim Iowa, its first mobile auction site in the state. The […] [Read More]

Just before the holiday rush climaxed, the National Independent Automobile Dealers Association enhanced its roster of National Member Benefit Partners with two providers that can help dealerships make vehicles more attractive on their lots or to dispose of inventory that just didn’t turn as planned. The two companies now collaborating with NIADA as partners include […] [Read More]

As the Federal Reserve mulls interest-rate decisions for 2019, Edmunds explained that December’s auto finance data reinforced how 2018 represented a “tipping point.” Analysts indicated interest rates for new vehicles dipped slightly for a second consecutive month in December. But for used vehicles, the exact opposite happened as the rate jumped a full percentage point […] [Read More]

Following a divestment by Mercedes-Benz Canada, the Dilawri Group of Companies has absorbed ownership of six Mercedes locations in Vancouver that previously formed the automaker’s Vancouver Retail Group. The move was announced Wednesday and was immediately effective. The automaker is conducting a worldwide assessment of its Mercedes-Benz Cars sales and after-sales networks, and this transfer […] [Read More]