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]

There has been a spate of articles lately discussing concerns about elevated growth in the auto finance sector. Some have argued that increased subprime lending to low- and middle-income consumers could result in some of the same fallout that occurred in the wake of the subprime mortgage crisis. Others have bemoaned the asset-backed securities sector […] [Read More]

In a new development this week, address scoring and location reports from Digital Recognition Network are now available in the Shaw Systems Associates collections software platform. Officials highlighted Shaw Systems’ customers now have access to new data insights that can allow them to address collections earlier in the workflow and improve debt collection. The company […] [Read More]

Advanced Lending & Portfolio Services (ALPS), a division of Westlake Financial Services, announced the acquisition of a $12.4-million bulk portfolio from Blackhawk Financial based out of Chicago. While revealed on Thursday, officials indicated the acquisition happened on March 19. Blackhawk Financial is an auto finance company operating out of seven states, mostly in the Midwest.  […] [Read More]

Inventory management and marketing solutions provider Liquid Motors announced Thursday the appointment of a new vice president of sales. Filling the position is 20-year industry veteran Joseph Cote, who most recently served as the national remarketing manager for United Auto Credit. “Joe brings a wealth of experience in the automotive industry particularly in the wholesale […] [Read More]

In an attempt to serve buy-here, pay-here operators, Wolters Kluwer Financial Services released an update to its AppOne platform, including the ability to accommodate multiple payment frequencies. Previously, the software only accommodated a monthly payment frequency. Now, officials highlighted the solution supports alternative payment frequencies which allows Wolters Kluwer Financial Services to better serve BHPH […] [Read More]

Dealertrack Technologies’ TradeTracker Used Vehicle Market Report for the month of April was recently released, reflecting another month of trade-in consistency for Canadian dealers. The Ford F-150 was once again the overall most-appraised vehicle in Canada, followed by the Toyota Corolla and the Honda Civic sedan, all following three-month and year-long trends. The Ford Escape […] [Read More]

Wholesale prices were on the way up last month as the market got over the winter hump and the spring selling season began. The Manheim Canada Used Vehicle Index was up by 2.5 points from March, rising to 113.4. This also is 10.5 points higher than levels seen in April 2014. Every vehicle segment showed […] [Read More]

The Ontario Motor Vehicle Industry Council proposed to its members in a recent bulletin an increase in fees to make sure OMVIC is adequately funded and able to administer the Motor Vehicle Dealers Act. The three fees that generate revenue for OMVIC that are being considered for price hikes are the salesperson renewal fee, (currently […] [Read More]