Manheim Pennsylvania announced that it will have more than $30,000 in prizes slated for three of its year-end sales. Scheduled for its Dec. 18, Dec. 19 and Jan. 2 sales, the auction will host the following themes on each of the dates, respectively: Naughty and Nice Mega Sale: For Mercedes-Benz dealers, Dec. 18; this closed sale […] [Read More]

Auction volume in November was up more than 6 percent against comparable weeks of 2013, pushing year-to-date growth to 4.4 percent.  These statistics are part of the National Auto Auction Association’s latest Economic Dashboard, which is prepared by NAAA economist Ira Silver. Another November indicator cited in the report is used-car sales. These were up modestly […] [Read More]

CarMax has announced the 12 winners of The CarMax Foundation’s CarMax Cares Community Service Award. The award, given annually now for the fifth time, is bestowed to associates across the country who are nominated by their coworkers for their own volunteer efforts and leadership in community projects. The 12 winners were honored at the company’s […] [Read More]

Ken Shilson, founder of the National Alliance of Buy-Here, Pay-Here Dealers, joined the leadership of the National Independent Automobile Dealers Association for its annual leadership meetings in Washington, D.C., to help champion positions important to BHPH operators. Shilson left Capitol Hill with three related takeaways from those gatherings; a trio of points NABD is using […] [Read More]

General Motors has a new certified pre-owned manager to replace Larry Pryg, who is now Global On-Star marketing manager. Named manager of certified pre-owned vehicles for GM this month was Todd Brown, who was previously the marketing manager for the Cadillac Escalade and SRX. Brown has been with GM since 1999, when he came aboard […] [Read More]

December is throwing some curveballs in the lanes. As commentary from Black Book personnel at auction flowed in last week, it became clear “the market is not acting in typical December fashion.” That’s according to Black Book editorial director Ricky Beggs, who highlighted some unusual movement for auction prices this past week in his latest […] [Read More]

Subprime auto financing is one of the main drivers of why American consumers spent $103 billion in fees and interest revenue in 2013, according to the fourth annual Financially Underserved Market Size Study orchestrated by the Center for Financial Services Innovation (CFSI) and Core Innovation Capital. Study authors arrived at the figure by reviewing $1.3 […] [Read More]

According to the latest Equifax National Consumer Credit Trends Report, the total number of outstanding auto loans year-to-date in November came in at more than 70.0 million, the highest level in more than five years. That amount of paper in finance company portfolios as of November pushed outstanding balances 9.6 percent higher year-over-year to $965.0 […] [Read More]

The Federal Trade Commission penalized a pair of dealership groups for violations of a previous consent order regarding advertising the cost of buying or leasing a vehicle. Part of the consent orders established in March 2012 indicated FTC officials could inspect any advertising material distributed by Billion Auto — a chain of 20 family-owned dealerships […] [Read More]

Mercedes-Benz Canada has chosen its class of 2015 Star Dealers. Ten dealerships across the country were recognized with the designation this year, which highlights stores' accomplishments in the area of new and pre-owned sales, service and parts, as well as customer satisfaction.  Ontario was the dominant province this year, with five of the awards doled […] [Read More]