After mentioning the latest movement of the Manheim Used Vehicle Value Index during his quarterly conference call on Wednesday, Cox Automotive chief economist Tom Webb touched on a topic that triggers the greatest volume of questions he receives — wholesale price projections. While Webb didn’t offer any specific figures, he did share some guidance in […] [Read More]

With federal regulators asking finance companies to provide consumers with more resources to manage their vehicle installment contracts and more, Ally Financial added three enhancements to its offering. At the National Association of Minority Automotive Dealers (NAMAD) annual convention on Wednesday, Ally announced that its auto consumers will soon have easier access to important account […] [Read More]

The TPC Management Co.’s continuing education program for auction professionals, Auction Academy, has hosted two successful classes in the first half of the year and has two more scheduled in the next two months. The program, designed to enhance essential skills sets, promote best practices and yield better auction performance, will host a session for “Class […] [Read More]

June was another strong month for Canadian certified pre-owned sales, with many automakers experiencing record CPO sales and impressive year-over-year gains. Volkswagen Canada experienced its best June on record for certified sales, with dealers delivering 1,587 CPO vehicles. This represents a 15.5-percent year-over-year spike from last June’s 1,374 CPO sales. Year-to-date, the company has sold 8,901 […] [Read More]

We have learned the value of establishing “knockout factors” at the beginning of every search.  These are factors that are so important that, no matter how qualified a candidate may otherwise be, they will be “knocked out of contention” if this need isn’t met.   You may have been there yourself. A typical example is hiring […] [Read More]

Metrolina Credit Co. recently established its first field supervisory position to help support the continued success and growth of its branch network throughout North and South Carolina.  To fill this position, Metrolina Credit promoted Stan Joyce to regional manager. Joyce was previously the branch manager of the company’s facility in High Point, N.C. Prior to […] [Read More]

The Used Car Week workshop room at the San Diego hotel was slam-packed like a triple-decker hoagie. Standing room only, and barely that. It was 2013 and the National Remarketing Conference breakout session was a deep dive on multiplatform selling, a topic that has continued to evolve and generate discussions in the two years since, […] [Read More]

On Tuesday, Copart reported the preliminary results of its modified “Dutch Auction” tender offer, which expired at 5 p.m. ET on Monday. Based on the preliminary count by the depositary for the tender offer, Copart said it expects to accept for payment an aggregate of 6,262,579 shares of its common stock at a purchase price […] [Read More]

With the expectation of the deal still closing during the third quarter, Cox Automotive announced late on Monday that it has voluntarily withdrawn its filing under the Hart-Scott-Rodino Antitrust Improvements Act as amended to complete its proposed acquisition of Dealertrack Technologies. The company indicated that it made the decision in order to provide the U.S. […] [Read More]

KAR Auction Services executive vice president of enterprise optimization, David Vignes, announced today the promotion of Eric Zurawski. Zurawski takes on the position of vice president of enterprise optimization, where he will be in charge of all security throughout the company. According to the company, his responsibilities will include directing and improving all auction-related security […] [Read More]