ADESA announced recently that one of its locations, ADESA Golden Gate, was named the Auction of the Year for 2014 by VW Credit Inc. based on year-round measurements of key performance indicators. The auction location was also recently honored with LeasePlan’s 2014 Stellar Performance award as well as with General Motors’ Overall Achievement awards for […] [Read More]

KAR Auction Services might not nearly be finished acquiring independent auctions, with chief executive officer Jim Hallett saying there are “five to 10 really good strong independents that we would be very interested in acquiring if the opportunity presented itself.” Back in March, KAR announced that business unit ADESA expanded its presence in Pennsylvania with the […] [Read More]

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]