Despite a $5.2 million dip in revenue during the fourth quarter of its 2015 fiscal year, Copart still managed to post increases in both gross margin and net income to close out a year with its fully diluted earnings per share nearly 23 percent higher. For the quarter that ended July 31, Copart reported this […] [Read More]

Along with naming a top executive for EDGE Marketplace, Auction Edge announced on Wednesday that it entered into an agreement to purchase Auto Auction Solutions of Pensacola, Fla., in a deal that is expected to close Oct. 30. Company officials highlighted Auto Auction Solutions will operate as a division of Auction Edge called EDGE AAS with […] [Read More]

Asbury Automotive Group announced this week it is expanding its Nalley brand with a new Nissan and an Infiniti store in Atlanta. The company recently held a groundbreaking ceremony, which included attendees such as Craig Monaghan, president and chief executive officer, and David Hult, chief operating officer of Asbury Automotive; Leon Dorssers, vice president of […] [Read More]

More subprime paper in the entire credit mix produced small increases in numerous default rates, but not to a point that triggered warning from S&P Dow Jones Indices and Experian. Data through August showed the auto segment of the S&P/Experian Consumer Credit Default Indices ticked up 4 basis points on a sequential basis to land […] [Read More]

The reported acknowledgement by the Consumer Financial Protection Bureau that its use of disparate impact could over-count potential discrimination by indirect auto finance companies continues to churn the industry’s frustration with how the regulator operates. Paul Metrey, chief regulatory counsel at the National Automobile Dealers Association, reiterated his position after American Banker reviewed a series […] [Read More]

The National Automotive Finance Association enjoyed another great turnout for the opening module of its Consumer Credit Compliance Certification program. The most recent session last week in Irvine, Calif., drew 78 participants from 55 different companies. Hudson Cook partner Patty Covington, one of the instructors for the opening module of the four-part training endeavor, told […] [Read More]

The National Auto Auction Association inducts its new president at the NAAA Annual Convention this week. Mike Browning, the general manager of Manheim San Antonio, has spent a year in the president-elect role for NAAA and is well prepared for his tenure as president. Auto Remarketing reached out to Browning in August to gain insight […] [Read More]

Edmunds.com announced the hiring of four new additions to its executive leadership team today, bringing in a mix of individuals with automotive experience as well as from other industries. Billed as a pathway to bring a "fresh perspective" to the company and its efforts to enhance dealer business, the four new executive hires and their […] [Read More]

It’s only Day 1 of the NAAA Convention and there have already been big stories coming out of the auction world as the convention hotel stirs with more activity. The latest are two industry awards that the association shared Tuesday. NAAA announced its Marie Hingst Exhibitor of the Year for 2015, awarding the honors to Ron […] [Read More]

ADESA subsidiary AutoVIN chose what it dubbed to be a seasoned and experienced leadership team on Tuesday for the company’s expanded operations in Canada and the U.S. Officials highlighted the AutoVIN leadership team now is led by Richard Carpentier, chief operating officer and senior vice president of operations across North America. A familiar name in […] [Read More]