The dealership news roundup involves activities at Asbury Automotive Group, Victory Automotive Group and Fifth Wave Automotive Group. According to a news release from Tim Lamb Group, the firm brokered the sale of Folsom Lake Chrysler Dodge Jeep Ram in Folsom, Calif., earlier this month back to its original owner, Fifth Wave Automotive Group. Tim […] [Read More]

On Sunday, USAA made the first of four vehicle donations to veterans and their families as part of a project with Recycled Rides that’s orchestrated by the National Auto Body Council (NABC). USAA gifted the first of four vehicles in San Diego. The employees at Fix Auto Poway volunteered their time to restore the vehicle. […] [Read More]

The newest Auto Finance Digital Transformation Index from Wolters Kluwer showed the strongest eContracting quarterly adoption rate on record. During this first quarter of moderate growth in sales, Wolters Kluwer said auto retailers and their financing partners continued to seek opportunities to adopt digitized contracting and documentation workflows to increase back-office efficiency, and documentation compliance […] [Read More]

The American Financial Services Association (AFSA) leveraged its membership base to create its latest ongoing project — the Consumer Credit Conditions Index (C3 Index). AFSA revealed the first findings from this initiative, which is meant to fill a need among finance companies, lenders, policymakers, consumer-facing businesses, the financial media and the public for a set […] [Read More]

While the upswing in 2024 isn’t likely to be as strong as last year’s, the wholesale vehicle market is showing a gradual rebound in volumes and has started the year with some impressive gains. At the Manheim auto auction chain, wholesale sales climbed in 11 of the first 13 weeks of the year and were up 15% year-over-year in the first quarter, said Jeremy Robb, senior director of economic and industry insights at parent company Cox Automotive. Year-to-date through February, there were ... [Read More]

It continues to be a celebratory atmosphere in the auction world. While BSC America’s Bel Air Auto Auction recently commemorated its 77th anniversary, the National Auto Auction Association is gearing up for this year’s World Automobile Auctioneers Championship (WAAC). What NAAA considers the premier competition in the auto auctioneer industry is set to take place […] [Read More]

CarMax is reducing the timeline on its money-back guarantee policy from 30 days to 10 days, starting May 12, the used-car retailer said in a statement. The guarantee had been seven days, but CarMax extended it to 30 in January 2021, amid COVID-19 as “buying behaviors changed and consumers were spending more time online and […] [Read More]

Four forthcoming repossession agents shared a variety of personal and professional anecdotes last week during the North American Repossessors Summit in Orlando, Fla. The session titled “What I Wish I’d Known … A Cautionary Tale for Small, Medium, & Large Recovery Companies” included: —Ray Franklin of National Locating & Recovery, Inc. —Matt Freeman of Professional […] [Read More]

American Recovery Association president Vaughn Clemmons addressed the record gathering for last week’s North American Repossessors Summit, sharing his “unfiltered beliefs on the state of our recovery industry.” Clemmons described the challenges and opportunities the industry has, asking for a “call for collaboration,” involving agents, finance companies, forwarders and other service providers that might touch […] [Read More]

This week, APCO Holdings announced it has merged two of its brands — EasyCare and National Auto Care — into a unified F&I “force” under the EasyCare brand. The merger follows the acquisition of National Auto Care last January. With a combined legacy spanning more than 40 years, APCO highlighted the brands are recognized for […] [Read More]