The TPC Management Co. put three more sessions in the books this summer for its Auction Academy aimed at providing continued education for auction industry professionals. The academy will host its next and final event for 2015 as a joint-class session in Detroit this fall. The first of the three summer sessions was hosted in […] [Read More]

Car Lister, a Web application that can allow dealers and consumers to list, buy and sell new and used vehicles directly from their mobile device, announced a partnership on Wednesday with eLEND Solutions to integrate its online credit application product into the platform. The companies explained that the partnership will provide Car Lister’s network of […] [Read More]

It appears as though OEMs and dealers may be missing some potential co-op marketing opportunities to reach the same potential customers. That’s according to Netsertive’s recent survey findings in “Kick Automotive Co-Op Into High Gear: Optimizing OEM Dollars for Video and Mobile Marketing,” which shows the discrepancy where dealers and OEMs prefer to spend their advertising dollars. “While […] [Read More]

The fall selling season is approaching, and depreciation trends are slowing as we leave the summer months behind. According to the latest Black Book Market Insights report, car prices fell by just 0.37 percent or $42 last week, while trucks saw a slight 0.13 percent or $21 decline. "Depreciation slowed last week as compact and […] [Read More]

The Consumer Financial Protection Bureau took action on Wednesday against the nation’s two largest debt buyers and collectors for allegedly using deceptive tactics to collect bad debts, which may have included auto finance recoveries. The bureau found that Encore Capital Group and Portfolio Recovery Associates bought debts that were potentially inaccurate, lacking documentation, or unenforceable. […] [Read More]

Though pickup truck values remained strong in August, crossovers were the outlier last month with prices dropping more rapidly for most of these segments. For example, compact pickups saw rates rise by 0.4 percent in August, while full-size crossovers saw the highest depreciation out of all segments with prices dropping by 3 percent to an average […] [Read More]

The latest enforcement action against a dealership in New Jersey provided another reason why Dealertrack Technologies associate general counsel Randy Henrick recently acknowledged that when he brings up the topic of compliance, “many dealers feel a headache coming on.” Before a Garden State superior court judge ordered an independent dealer to pay nearly $700,000 in penalties, […] [Read More]

Prestige Financial rolled out a new direct-to-consumer loan solution on Tuesday aimed at leveraging the potential market for refinancing a vehicle installment contract. The company highlighted that Prestige’s new offering allows consumers to deal directly with the financing source to access the best contract available to them. Until now, Prestige has provided auto financing exclusively […] [Read More]

The American Financial Services Association announced that nine executives have been elected to join its board of directors for three-year terms, which will begin following the association’s board meeting on Oct. 6. The nine individuals include: — Jody Anderson is responsible for managing Regional Management’s daily operations, implementing, managing and monitoring the execution of current […] [Read More]

Announced this morning, Mercedes-Benz Canada will have a new president and chief executive officer come Jan. 1, 2016. The company informed its employees and dealer network today that Gareth Joyce will take over for Tim Reuss as president and CEO come the first of the new year. Reuss will transition to president and CEO of […] [Read More]