It started with a letter in the mid-1990s. Now working with 50-plus auctions and various companies in the car business, TPC Management Co. celebrated its 20th anniversary this summer.   “When we opened our doors in 1996 we could not, in our wildest imagination, have conceived of all the companies and projects we would become […] [Read More]

CarMax has begun its largest hiring effort to date, following an announcement that the company is opening a new Murrieta, Calif. multi-purpose facility in February. The company is hiring more than 250 associates to staff the new location. A majority of the positions available are roles in service operations such as inventory, service advisors and technicians. There […] [Read More]

The leasing market keeps moving toward a point where less than $100 per month will put someone into a vehicle. The closest deal to that figure this month according to Wantalease.com is the Nissan Sentra SV currently being offered at $109 per month, down from $129 just a month earlier. Site officials highlighted there are 13 […] [Read More]

Election season got you down? If you're a dealer doing business in a battleground state, the answer is most likely yes. A recent analysis by Dealer.com revealed that car-shopping behavior in states where the vote can “swing” either red or blue – Colorado, Florida, Iowa, Michigan, Nevada, New Hampshire, North Carolina, Ohio, Pennsylvania, Virginia and […] [Read More]

Sonic Automotive’s standalone used-car store program known as EchoPark Automotive is moving full steam ahead and doesn’t appear to be slowing anytime soon. The hub-and-spoke model that began in Colorado continues to grow, with future stops in the American South. EchoPark now has five locations open, two of which became fully operational in the third […] [Read More]

With one subprime metric jumping to the second-highest point in 15 years, the latest monthly auto loan ABS index from Fitch Ratings released this week showed that losses for U.S. auto ABS continue their steady climb. As a result, analysts noticed some finance companies are holding the line on underwriting quality. Fitch reported that both prime […] [Read More]

SubPrime Forum presenting sponsor Digital Recognition Network (DRN) is participating in a free webinar to help finance companies and repossession agents to be more efficient and save precious time — and money — by better using their historical license plate recognition (LPR) scan databases. “The repossession industry can feel like a game of hide and […] [Read More]

Copart has opened its 14th location in California. Copart Sun Valley is the global online auction company’s sixth location in Southern California. “Identifying and purchasing land in such a densely populated area such as Los Angeles is a real testament to our team,” said Jay Adair, chief executive officer of Copart. “This location is our sixth location in Southern California and will […] [Read More]

Auto Remarketing has announced its 2016 National Remarketing Executives of the Year, and earning this year's distinction are Greg Thibault and Todd August of Avis Budget Group.  Thibault, who joined Avis Budget in 1997, is the company’s vice president of fleet disposal, and August (who joined the previous year) is director of wholesale operations. Auto […] [Read More]

Prices of used vehicles from model years 2011-2015 depreciated by an average of 2.9 percent in October — steeper than the average 2.3 percent depreciation seen in September. According to Black Book, domestic cars are exemplifying ramped-up depreciation that is typically seen going into the fourth quarter. During the last three months, domestic cars have […] [Read More]