Auto Remarketing learned that online used-car retailer Vroom agreed to purchase Texas Direct Auto, a store said to be the country’s largest privately owned independent dealership and an early adopter of online retailing. The transaction was announced Wednesday morning, and it gained approval from the Department of Justice that afternoon, according to the company. Funding the deal is a […] [Read More]

Stress-testing has had a profound effect on risk management practices within banks. In the wake of the global financial crisis, regulators around the world instituted policies designed to substantially remove the possibility of large-scale bank failures.  Capital reserves at banks have been appreciably raised, and regulators are applying a considerably greater amount of scrutiny to […] [Read More]

The answer to the above question? That’s simple: We truly don’t have a selling fee because that is not the auction industry’s true role in the consignor-auction-buyer dynamic.  Our true role is to market used vehicles into the buying niches that absorb that type of product, but “selling it” is the consignors role based on […] [Read More]

The folks at the Carolina Auto Auction find themselves in a “bittersweet” transition period as they celebrate the career of their fleet/lease manager, Sal Terranova, who is headed for retirement. Announced by the company on Wednesday, CAA’s well-known Terranova is succeeded in his position by Joe LeMonds, who has been shadowing Terranova in the position […] [Read More]

With leasing extremely popular with consumers and certified pre-owned models turning at a record pace, a marriage between the two markets came into the conversation again when American International Automobile Dealers Association hosted a webinar on Tuesday, reviewing this year and looking ahead to 2016. As two of the event’s experts took turns touting the […] [Read More]

Subprime auto finance company Exeter Finance Corp. announced today that Tom Anderson has resigned from his role as chief executive officer and as a member of the board of directors to pursue other interests. Mark Floyd, a member of Exeter's board of directors who formerly served as Exeter's CEO and co-chief operating officer at AmeriCredit […] [Read More]

Millennium Capital and Recovery Corp. recently completed a move into a new state-of-the-art corporate headquarters that can accommodate the company’s growth and meet the current and future needs of its clients. As part of the relocation to its new facility located at 95 Executive Parkway in Hudson, Ohio, Millennium also invested in upgraded technology and […] [Read More]

As we near the end of 2015, market activity is slowing in the lanes, and strong wholesale price depreciation is stabilizing, as is expected during this time of year. This week’s Black Book Market Insights report, which looked at end-of-year trends, highlighted the “usual December slowdown” in auction activity, and also took a look at […] [Read More]

When it comes to a vehicle’s retained value from new to used, volume is important — but selling more of a vehicle doesn’t necessarily imply its value will stay. Even if the product is spectacular, perceived quality and new quantity sold do not go hand in hand. This is one lesson that Subaru and Lexus […] [Read More]

In light of a variety of new ways emerging to buy vehicles nowadays — not just through a dealership or private-party transaction — the Federal Trade Commission announced on Monday that it will host a one-day workshop. FTC officials explained the event set for Jan. 19 is being designed to explore competition and related issues […] [Read More]