Manheim announced that it is hosting a grand opening of Manheim Little Rock, its first location in Arkansas, on Wednesday as part of its strategic plan to expand into underserved areas in the U.S. this year. The company said it made the decision to open the Little Rock location after considering dealer demand in the […] [Read More]

Continuing education provider Auction Academy — which starts sessions for its  two-year program on April 6 — announced that this is the first year it has opened enrollment to commercial account representatives and dealers. Auction Academy’s program began as a course of study just for the children of independent auction owners in 2012. “We have successfully […] [Read More]

This week, repossession services provider Del Mar Recovery Solutions announced that the company expanded its partnership with MBSi Corp. to encompass MBSi’s new suite of products. For the past several years, Del Mar Recovery Solutions has utilized MBSi’s iRepo platform to manage repossession assignments for many of its auto finance company clients. Del Mar Recovery […] [Read More]

S&P Global Ratings reported on Thursday that collateral performance in the U.S. prime and subprime auto loan asset-backed securities (ABS) sectors continued to weaken in January. “Surprisingly, delinquencies did not decline from December to January as they usually do,” the firm said in a report sent to SubPrime Auto Finance News. “At the same time, […] [Read More]

As Swapalease.com noticed the approval rate for vehicle lease credit applicants jumped more than 30 percent in February, Experian and Edmunds also offered data and analysis on the leasing market — the former looking back at fourth-quarter metrics and the latter reviewing last month’s performance and projecting ahead for the remainder of the year. Edmunds […] [Read More]

ADESA Canada has opened up new headquarters in the Toronto suburb of Mississauga. Roughly 50 ADESA and AutoVIN employees will work out of the 10,583-square-foot facility. ADESA Canada's sales, finance, tax, legal and human resources will be housed in the Mississauga headquarters, along with AutoVIN training and development, customer service field operations and executive departments. The […] [Read More]

On Thursday, Equifax announced the global launch of a portfolio of analytics tools dubbed Equifax Ignite that’s available now in the U.S., Canada and the U.K., and coming to Australia in the fall. The company explained that Equifax Ignite challenges what it classified as the traditional “one size fits all approach” with an innovative suite […] [Read More]

Some new-car models, particularly a few luxury vehices,  are resold after just one year of ownership signficantly more often than the average car is, according to a newly released analysis by iSeeCars.com While just 1.5 percent of  car buyers resell their new cars within the first year of ownership, iSeeCars spotlighted 11 models thatn see at […] [Read More]

As one wholesale market economist called the certified pre-owned market one of the “good guys,” another economist specializing in the wholesale space offered a recommendation to make the CPO segment even better, especially for franchised dealerships. KAR Auction Services chief economist Tom Kontos, NAAA chief economist Ira Silver and Cox Automotive chief economist Tom Webb participated […] [Read More]

Along with releasing its latest weekly price movement update via the Black Book Market Insights report, the firm’s data also indicated the average price of a used vehicle for model years 2011 through 2015 depreciated by 0.8 percent in February. Editors noticed cars overall produced depreciation of 0.8 percent versus trucks, which saw 0.7 percent […] [Read More]