While the activity might remain stable once the vehicle enters the wholesale market, Manheim expects repossession volume to climb “modestly” this year based on one simple reason. There are more outstanding vehicle installment contracts in finance company portfolios nowadays. Cox Automotive chief economist Tom Webb insisted “it will take some time” for the industry to […] [Read More]

Prices in the lanes are holding stable as dealers buy up inventory in preparation for tax refunds to start pouring into potential customers’ bank accounts. Price depreciation at auction last week was very slight, according to the latest Black Book Market Insights report. Car prices dropped by just 0.19 percent or $19, according to Black […] [Read More]

Dominion Dealer Solutions announced the integration of its Dominion ACCESS dealer management system with General Motors’ MyPriceLink. According to Dominion, ACCESS is the first automotive DMS to integrate with MyPriceLink, the latter which provides GM’s real-time retail and trade pricing for collision parts to its dealers in lieu of fixed list prices. All GM dealers […] [Read More]

General Motors confirmed today that it will recall approximately 200,000 Saab and Saturn vehicles that contain Takata PSDI-5 driver front airbag inflators. Covering roughly 180,000 units in the United States and 20,000 in Canada, the recall includes Saab 9-3 vehicles from model years 2003 to 2011, Saab 9-5 vehicles from model years 2010 and 2011, […] [Read More]

Within hours of Santander Consumer USA stating Jason Grubb and Brad Martin left high-level posts at the company, Exeter Finance Corp. announced the pair as two of its top executives. Exeter indicated on Tuesday afternoon that the company appointed Grubb as chief executive officer and Martin as chief operating officer, effective immediately. Meanwhile, Exeter said […] [Read More]

Santander Consumer USA modified its top executive structure on Tuesday as Jason Grubb, who was president and chief operating officer of originations, and Brad Martin, who was chief operating officer of servicing, both departed the finance company. With chief executive officer Jason Kulas also assuming the additional title of president, SCUSA named Richard Morrin chief […] [Read More]

The Automobile Journalists Association of Canada, or AJAC, announced the nine best new car category honorees this past November, and the organization revealed the two final winners at the Canadian International AutoShow in Toronto late last week. AJAC has named the Honda Civic the 2016 Canadian Car of the Year, while the Mazda CX-3 took […] [Read More]

Asbury Automotive Group will be closing the Q auto store in Jacksonville, Fla., at the end of February, a company spokesperson confirmed on Tuesday to Auto Remarketing. The shutdown is due to the store's performance not being as strong as projected. Employees of the store, who will be interviewed for jobs at other Asbury dealerships, were […] [Read More]

With more tax refund money coming into potential buyers hands, DealerSocket unveiled a five-step customer acquisition plan for independent and buy-here, pay-here dealers on Tuesday. Backed by the company’s most recent internal data and a survey of dealerships nationwide, DealerSocket highlighted the plan covers what executives called “low-hanging-fruit strategies” that dealers can implement right away […] [Read More]

Group 1 Automotive president and chief executive officer Earl Hesterberg described a predicament franchised dealerships might be facing as more new trucks and SUVs leave their showrooms. Part of the fallout from those popular new models turning is what’s coming back as a trade — perhaps a sedan that’s not as popular as those trucks […] [Read More]