Canada’s sole public dealer group hosted its quarterly conference call on Thursday, announcing its results in the first quarter of 2015. In light of AutoCanada’s recent acquisition run, the group’s overall used vehicle units sold nearly doubled year-over-year from 2,861 in the first quarter of 2014 to 4,891 in 2015. On a same-store basis, however, […] [Read More]

Rather than just attributing double-digit growth in unit and dollar volumes as well as the number of active dealers using its platform only to market conditions and the possibility some competitors pulled back during the first quarter, Credit Acceptance Corp. leadership applauded the efforts of its nationwide salesforce. Credit Acceptance reported that unit and dollar […] [Read More]

Along with recommendations on how to alter the nine standard responses the agency plans to embed, the American Financial Services Association shared four more potential finance company replies that would be integrated within the Consumer Financial Protection Bureau public compliant database. In a letter to CFPB director Richard Cordray, AFSA executive vice president Bill Himpler […] [Read More]

AmTrust Financial Services recently entered into a definitive agreement to acquire Warranty Solutions, a Wells Fargo business, for $152 million in cash. Officials highlighted Warranty Solutions designs, markets, administers and underwrites vehicle service contracts for new and used vehicles through a national network of more than 70 active agencies, and 1,500 franchised and independent dealers. […] [Read More]

Given the demand they’re fetching and the resulting short supply, perhaps it’s no surprise that the auction value of sports cars increased more than any other segment in April, according to Kelley Blue Book. Between March 27 and April 24, the KBB Auction Value of model-year 2012 to 2014 sports cars jumped 2.6 percent, the […] [Read More]

The National Independent Automobile Dealers Association announced recently that it has added ELEAD1ONE as a Bronze-level National Corporate Partner. Scott Lilja, the senior vice president of member services at NIADA, believes that ELEAD1ONE personifies the criteria of the “leading-edge, highest quality and best-in-class” organizations that the NIADA chooses to partner with and recommend to its […] [Read More]

It turns out prices in the lanes stayed consistent last month, even as April marked the end of tax season and historically the market strength that comes with it. According to Black Book data, the average wholesale prices for vehicles model years 2009 through 2013 went largely unchanged last month. “The fact that we’re looking at […] [Read More]

The “spring effect” is in full effect, and the used-car market continues to churn out high numbers. With close to 3.6 million used-vehicle sales in April, there have now been nearly 10 million used cars sold so far this year, according to the National Automobile Dealers Association. The April used-car sales total represented a 5.3-percent […] [Read More]

Auction Broadcasting Co. recently announced a new general manager for its ABC Baton Rouge location. Hired for the position was Colin Chancellor, whose background in the auction business goes back more than 22 years. Chancellor started his auction career in November 1993 working for Stuart Frankenthal, who owned both Louisville and Cincinnati Auto Auctions, as […] [Read More]

Responding to industry demand for vehicle transportation that exceeds carrier availability, ShipCarsNow and Ready Auto Transport have formed an alliance to provide multi-modal car transport services. By combining their truck and rail services, the companies aim to boost carrier capacity and provide transportation efficiencies for Manheim customers in the U.S. as well as other wholesale […] [Read More]