Service and technology providers are coming to this year’s annual gathering hosted by the National Alliance of Buy-Here, Pay-Here Dealers armed with products that Ken Shilson insisted are brand new and can help operators of all sizes immediately. Shilson highlighted more than a dozen different companies are ready to launch a new solution during the 19th […] [Read More]

The metrics and performance of General Motors Financial are showing more distinct characteristics of a traditional captive finance company and less of a provider that used to book a significant amount of subprime paper. In fact, GM Financial reported that its penetration of originations associated with retail deliveries by the parent automaker reached an all-time […] [Read More]

Manheim recently announced it has promoted Dave Rathjens of Manheim Lakeland, Greg Milam of Manheim Seattle and Martin Sandoval of Manheim Central California to general manager roles. “Manheim has a strong track record of developing our team members into leaders, and we’re fortunate to have these pros as new general managers,” Julie Picard, regional vice […] [Read More]

It was mid-afternoon on Dec. 5, 2013, and KAR Auction Services chief executive Jim Hallett was at a meeting in a Chicago boardroom. A person in that meeting was discussing a new product called TradeRev that had been launched in Canada. “I stopped the meeting, and I said, ‘Go and phone the principals right now, […] [Read More]

NextGear Capital recently announced that the NextGear Floorplan Master Owner Trust successfully completed the sale of $400 million of privately placed 144A Asset-Backed Notes, Series 2017-1. Officials indicated the company’s sixth successful securitization transaction, which further broadens the investor base, included the issuance of $400 million of Aaa/AAA/AAA rated Class A Notes. “Since our inaugural […] [Read More]

Stream Companies, an integrated traditional and digital marketing agency in Tier 3 automotive, recently acquired WorldDealer, another integrated advertising agency and automotive website company. With the acquisition, Stream explained that it adds a number of key agency accounts and more than 100 websites to FullThrottle, its performance website platform specifically made for dealers. Paul Accinno, […] [Read More]

With the intention of broadening its client roster beyond the 16 already in its portfolio, Auction Management Solutions (AMS) announced on Monday that Jamye Carpenter has joined its team as vice president of business development.  AMS highlighted that Carpenter has more than 18 years of experience in the auto auction industry, with positions ranging from […] [Read More]

Kia Motors America said that last month's certified pre-owned sales marked its best April ever and more than a 5-perecent increase. And this, right after Kia had its best first quarter ever for CPO.  Last month, Kia sold a 6,953 vehicles, which was up 5.6 percent year-over-year.  CPO sales have risen 14 percent year-to-date, reaching 26,406 units, according to […] [Read More]

While plenty of attention went toward the U.S. House voting major changes involving healthcare last week, the House Financial Services Committee passed the Financial CHOICE Act 2.0 — the measure that would greatly modify the Dodd-Frank Act and the Consumer Financial Protection Bureau. The committee passed the proposal along party lines by a 34-26 vote […] [Read More]

Manheim recently announced that it has named Peter Grupposo vice president of dealer sales and selected Holly Capps to fill Grupposo’s former role as vice president of inventory solutions commercial and wholesale sales. Both Grupposo and Capps will report to Manheim senior vice president of sales Tim McKinley and assume their new roles on June 1. Grupposo most […] [Read More]