Used-vehicle prices were down this past February, and the trend isn’t expected to stop anytime soon. According to the latest RVI Risk Outlook report, greater incentive activity and a more competitive new-vehicle market — as well as increasing used supply — will combine to put even more downward pressure on pre-owned prices. “The upturn in the […] [Read More]

Insurance Auto Auctions on Friday launched the vehicle assignment feature for Android as part of the CSAToday by IAA mobile app. This development follows the feature’s successful November launch on iOS devices, which can enhance the CSAToday customer experience by offering "anywhere" access to begin an assignment with IAA. The feature also enhances the application's […] [Read More]

Manheim and AiM have formed a strategic alliance that includes an investment in developing inspection technologies, the two companies announced Friday. The alliance aims to “create greater consistency in the inspection process,” they said in the announcement, as well as “provide products, services and best practices that will effectively and efficiently support both wholesale and […] [Read More]

The Federal Trade Commission referenced back to a practice this week that regularly upsets the agency, especially in the dealership arena when it comes to vehicle pricing and financing possibilities. It’s the concept of the bait and switch. When asked about what concerns the FTC most about what unscrupulous dealers might be doing, Jessica Rich […] [Read More]

Manheim chief economist Tom Webb explained any potential impact the latest moves by the Federal Reserve might have on auto financing as part of his March Auto Industry Brief. First, Webb recapped that the Fed dropped the word “patient” earlier this month in regard to an interest rate rise. However, he noted the Fed also […] [Read More]

Chernek Consulting not only enhanced the roster of F&I experts set to be a part of its one-and-a-half-day workshop focused on subprime financing, but the firm also lowered the cost for dealership managers and owners to attend the upcoming event. F&I trainer Jim Ziegler recently was added as a keynote speaker for the workshop titled, […] [Read More]

Three finance companies — Prestige Financial Services, Credit Acceptance Corp. and Consumer Portfolio Services — all shared investment news this week. The largest of the three developments came from Prestige Financial Services, which completed its 13th and largest rated term securitization, issuing $400 million in securities backed by $414,507,771 in automobile installment receivables. In a […] [Read More]

AutoCanada recently reported strong results for the fourth quarter and full year of 2014 during its last quarterly conference call, outlining across-the-board improvements in profitability. What the group wanted to bring more attention to, however, is the sales strife it is currently experiencing during its first quarter of this year. The company’s management team frequently […] [Read More]

The Federal Trade Commission continues to ramp up its enforcement actions in the automotive space with its second significant collection of settlements in about 14 months. On Thursday, the FTC and 32 law enforcement partners announced the results of what they dubbed “Operation Ruse Control,” a nationwide and cross-border crackdown aimed at what they contend is […] [Read More]

As spring gets underway, used supply is expected to rise, pushing pre-owned prices down slightly over the course of this month and April. That’s according to the March-April Canada Industry Report from ALG Canada, which predicts used market supply to rise in aggregate, which will serve to push residuals down by 0.01 percent. That said, […] [Read More]