For the second consecutive year, ADESA Winnipeg has been named the National Auto Auction Association's Eastern Chapter Auto Auction of the Year in recognition of its public service. The auction has planned and participated in more than 55 events to raise over $3.5 million for various regional causes, according to NAAA. “It's my privilege to […] [Read More]

Auto Remarketing confirmed multiple online reports from Atlanta-area media outlets that Cox Automotive is reducing its global workforce by nearly 1,000 employees, but the company said it does not “anticipate any additional large-scale reductions.” The reports first surfaced late on Friday afternoon, and Cox Automotive corporate spokesperson Lou Laste replied to a Monday morning inquiry […] [Read More]

Answering questions such as "What's needed to complete this customer's financing?" appears to be a main theme of which finance companies scored well in the J.D. Power 2017 U.S. Dealer Financing Satisfaction Study and which ones did not. Analysts determined great relationships trump low interest rates and product mix when it comes to dealer satisfaction with […] [Read More]

On Monday Capital One announced that the finance company provided a $23 million floorplan line of credit to Johnny Londoff Chevrolet, a second-generation family owned dealership that has been in business for more than 60 years in Florissant, Mo., a suburb of St. Louis. “We’re thrilled to expand our relationship with Londoff Chevrolet and provide […] [Read More]

J.D. Power said Monday morning it has rolled out a Used Vehicle Price Index Service that provides a monthly index monitoring current wholesale used-car prices and forecasting future movement. The analysis is done on both an industry and segment level. The company said it can forecast prices as far out as two years.  “Lenders, manufacturers, […] [Read More]

Seeking shelter from volatile residual values, rental car companies are selling more retired rental vehicles directly to dealers and consumers through non-auction sales channels. Avis Budget Group Inc. and Hertz Global Holdings Inc. said during their respective first quarter conference calls that per-unit fleet costs rose substantially in the quarter because of lower-than-expected used-vehicle values […] [Read More]

Each time a fender scratch is buffed out or a new set of tires is installed, KAR Auction Services chairman and chief executive officer Jim Hallett sees those reconditioning activities as wins for two of the company’s most important customer bases — dealerships and commercial consignors. And the victories appear to be increasing, significantly boosting […] [Read More]

A classic car auction set for Aug. 26 at Dealers Auto Auction of Idaho will feature 60-plus cars from a personal collection of classics ranging from the years 1919 to 1982. And the story of the man behind those cars has even more depth.  “The last 20 years he’s been buying beat-up classics and restoring them because he […] [Read More]

In its latest monthly report on Top Funded Used Vehicles, Dealertrack Canada spotlighted the 2016 Dodge Grand Caravan. For July, the minivan was third on the list, which is based on data from the Dealertrack online credit application network, and the only vehicle in the top 10 that saw a real meaningful price change from […] [Read More]

More than half of U.S. drivers don’t fully read their car insurance policies before signing on, according to Enterprise. New research recently released by the company based on a survey of 1,046 U.S. drivers found that 53 percent respondents fail to read their entire policy when purchasing new coverage. Drivers commonly don’t have a solid plan […] [Read More]