Manheim has announced its new general manager of Manheim Pennsylvania. Serving in his 15th year with Manheim and taking the reins as GM of Manheim’s home auction location is Joey Hughes. In the new role, Hughes will be responsible for all aspects of the auction’s operations, over both its internal workforce of 1,600 full- and part-time […] [Read More]

February represented the steepest drop in wholesale prices (on a mix-, mileage- and seasonally adjusted basis) in over three years, according to comments accompanying the latest Manheim Used Vehicle Value Index published on Monday. The index’s reading for February was 123.3, down 1.4 percent year-over-year.  Of the six vehicle segments included in the report, five showed […] [Read More]

While President Obama is convening a meeting on Monday with financial regulators to receive an update on the progress in “implementing Wall Street reform,” both the American Financial Services Association and the Consumer Bankers Association offered updates on the revision to the company portal manual associated with consumer complaints sent to Consumer Financial Protection Bureau. […] [Read More]

The fact that lease penetration notched another all-time record last quarter, representing 33.6 percent of all new-car financing, didn’t come as a surprise to Experian Automotive. Leasing, along with used cars, has made more financial sense than buying new for many consumers, Experian said in an analysis accompanying its latest State of the Automotive Finance […] [Read More]

FORTUNE magazine recently released its 100 Best Companies to Work For and, as usual, several companies involved in the automotive industry made the list. These companies include the likes of ARI, Capital One Financial, CarMax, Credit Acceptance, JM Family Enterprises, and USAA. CarMax celebrates its 12th consecutive year on the list. “Our associates take pride […] [Read More]

Buyers and dealers — no need to take out your smartphone to check run lists. Why don’t you just check your watch? ADESA said Friday it has launched its Marketplace app for the Apple Watch. “Car dealers are leveraging technology in new and exciting ways, and this Apple Watch app allows them to monitor their auction […] [Read More]

Social media users are bombarded with advertisements and promotions — some obvious, some subtle. But in the automotive landscape, which manufacturers are doing it best? And what about offline, in perhaps the oldest form of promotion:  word of mouth? Engagement Labs, a technology and data company, set out to figure that out and released its findings […] [Read More]

About 14 months ago, the merger of Flagship Credit Acceptance and CarFinance Capital became finalized, leaving Michael Ritter as the chief executive officer of the finance company that specializes in filling its portfolio with subprime paper. During that span, Flagship Credit Acceptance navigated through all the changes to write what Ritter called “a remarkable story.” […] [Read More]

In a trio of moves first reported by Cliff Banks of The Banks Report and later confirmed by Auto Remarketing, Cox Automotive has created a chief operating officer position and has named Mark O’Neil to the position. In addition to announcing the COO move, Cox Automotive said Thursday that Keith Jezek will become president of […] [Read More]

The Big 3 increased certified pre-owned sales by 1.6 percent year-over-year in February, moving 77,734 certified units, according to Autodata Corp. Year-to-date, the Big 3 is down 1.5 percent with 147,038 sales. Meanwhile, Asian brands sold 99,249 CPO vehicles for the month and were up 14.7 percent. Through February, they are up 8.4 percent with […] [Read More]