Following KAR Auction Services’ announcement earlier this year that it planned on opening an auction facility in the Chicago area, the company said Friday that it broke new ground for its future ADESA Chicago location. The 65-acre plot is located in Hoffman Estates, Ill., and the company hopes to open the facility in spring of 2016. In […] [Read More]

The effects of increased supply are starting to become more evident in the wholesale market. Commenting on the first year-over-year decline in used-car prices in a year, ADESA’s Tom Kontos said in his latest Kontos Kommentary report:  “We now see a clearer picture of the downward pressure that supply growth is putting on prices.” The […] [Read More]

After prices rose more than expected at auctions in July — up by 0.5 percent from June — rates in the lanes continue to rise as we approach fall. Last month, price movement was once again  “more positive than expected seasonally,” reported Geoff Helby, ALG Canada regional director. According to the ADESA Canada Used Vehicle […] [Read More]

For many customers, explains Rob Teitelbaum, buying a Mercedes-Benz can often be the celebration of a milestone event, like earning a medical degree, for example. There’s an excitement attached to that customer experience, and Teitelbaum – the new department manager for pre-owned operations at Mercedes-Benz USA – wants to make sure that same thrill exists […] [Read More]

Western Funding announced the first two dealers to receive their second payment as part of its Triple Pay program. Officials explained Triple Pay is Western Funding’s unique program that can give dealers the opportunity to build a portfolio of accounts and share in the profits of each deal. The program gives the dealers three opportunities […] [Read More]

On Thursday, Reynolds and Reynolds launched the Reynolds LAW Tennessee F&I Library, a comprehensive catalog of standardized, legally reviewed finance and insurance documents available to automobile retailers in Tennessee. The F&I resource for dealerships in the Volunteer State extended Reynolds’ expansion since the beginning of the year as the provider now has added this availability […] [Read More]

With just nine weeks to go until this year’s conference series kicks off, Used Car Week continues to build momentum. In addition to the debut of the sneak peek webinar series for the event (hosted by advertising extraordinaire Paul Potratz), our conferences team has been busy adding new sponsors for Used Car Week. Among those recently […] [Read More]

Although total commercial Chapter 11 filings moved higher for the second month in a row, the American Bankruptcy Institute didn’t waffle from maintaining its projection of what the overall consumer and business filing total should be for the year. According to data provided by Epiq Systems, all bankruptcy filings in August came in at 67,712, […] [Read More]

Scotiabank and General Motors of Canada announced today they are teaming up to help Canadians earn their next vehicle. The two companies have launched the new Scotiabank GM VISA cards, which acts as an expansion of a strategic partnership with a suite of credit cards designed to make it easier for drivers to visit a […] [Read More]

CarProof Corp. and The Association of Alberta Registry Agents (AARA) have announced a new partnership that aims to provide Albertan drivers with all the information they many need regarding their vehicles. Now, in an effort to promote transparency and safety awareness, AARA will be offering free CarProof reports at the time of vehicle registration and renewal. […] [Read More]