Integrated Auction Solutions said Sunday it has acquired an ownership stake in AuctionVcommerce, a company that provides online infrastructure support services that launched at Used Car Week 2015. The company declined to disclose the exact percentage of ownership it acquired. In a news release, IAS said that AuctionVcommerce will be brought into the IAS family […] [Read More]

RVI Group’s latest Market Update reveals that all vehicle segments saw used-car price declines in September as compared to a year ago. As a result, the RVI Used Vehicle Price Index decreased by 0.5 percent when compared to August. Compared to a year ago, the index was down by 4.3 percent. Adjusting for inflation, the […] [Read More]

F&I product provider JM&A Group recently entered into an agreement with Volvo Car USA to provide a full suite of branded F&I products for new and used vehicles to more than 300 Volvo dealers nationally. Through Volvo’s branded F&I program known as Volvo Increased Protection (VIP) Plans, JM&A will administer its F&I products. These will […] [Read More]

General Motors Financial generated the most North American originations in a single quarter ever while continuing to compile more prime paper than subprime contracts in the process. President and chief executive officer Dan Berce highlighted that the captive’s North American originations jumped to $3.4 billion during the third quarter, eclipsing the previous high mark of […] [Read More]

When it comes to maintaining auction values, the story during the third quarter was pickups, pickups, pickups. According to the latest Blue Book Market Report from Kelley Blue Book, the segment of 1- to 3-year-old vehicles with the best performing auction value was the full-size pickup, whose prices softened just 0.6 percent. Second was the […] [Read More]

Global auto sales rose by 10 percent in September — the biggest monthly gain in three years. According to Scotiabank’s recently release Global Auto Report, Asia led the way in September’s increase, with purchases of new vehicles climbing 21 percent higher than a year ago. China saw a 32-percent spike in volumes, marking that country’s […] [Read More]

Auto Remarketing and SubPrime Auto Finance News have announced the winner of this year’s Re3 Executive of the Year Award, which is being presented by Consolidated Asset Recovery Systems (CARS). The honoree who will be presented with the accolade at the Re3 Conference during Used Car Week is Jerry Shelby, who is the director of […] [Read More]

When Penske Automotive Group hosted its third-quarter earnings call this week, chairman Roger Penske had some pleasing news. Used gross profit per unit in the U.S. was up by $179, he said — “and that’s across all brands.” When asked during the Q&A portion of the call what was driving that kind of performance, especially […] [Read More]

At the same time the dealer group made grand announcements about significant broadening of its used-vehicle operations, AutoNation wrapped up the third quarter by keeping its gross profit on its used-car retail sales intact on a year-over-year basis. AutoNation reported on Friday that its Q3 gross profit per used vehicle retailed through its dealer network […] [Read More]

With S&P Global Ratings and Fitch Ratings keeping close watch of how the auto ABS market is behaving, two finance companies that have conducted several rounds of securitizations — Consumer Portfolio Services and Credit Acceptance — recently added more offerings. At CPS, the company recently announced the closing of its fourth term securitization in the […] [Read More]