Are you seeing a lack of talented techs come through your doors? Many dealers are; the industry is buzzing about a shortage that may affect your bottom line for years to come. Mid-career mechanics are retiring, yet fewer schools are able to teach the advanced skills that today’s cars require, and there remains a stubborn […] [Read More]

On Friday, Xcira unveiled its new floor plan management system, which will begin its launch sequence at BSC America’s Bel Air Auto Auction later this month. Designed to allow an auction to manage its own floor planning program for its dealers more efficiently, the company highlighted the system is the most recent in a series […] [Read More]

Prices in the lanes for prime used vehicles saw depreciation slow even further in August. According to the latest Blue Book Market Report from Kelley Blue Book, prices for 1- to 3-year-old used vehicles held their values better last month than movement seen earlier this summer. The average vehicle value to younger used vehicles declined […] [Read More]

The ServNet Auction Group has brought in a new member: Akron Auto Auction. Announcing the new addition, ServNet president Patty Stanley said: “It continues to be our goal to identify the best independent auto auctions in markets not currently covered by one of our ServNet member auctions, and we are delighted to announce that Akron Auto […] [Read More]

Following KAR Auction Services’ announcement earlier this year that it planned on opening an auction facility in the Chicago area, the company said Friday that it broke new ground for its future ADESA Chicago location. The 65-acre plot is located in Hoffman Estates, Ill., and the company hopes to open the facility in spring of 2016. In […] [Read More]

The effects of increased supply are starting to become more evident in the wholesale market. Commenting on the first year-over-year decline in used-car prices in a year, ADESA’s Tom Kontos said in his latest Kontos Kommentary report:  “We now see a clearer picture of the downward pressure that supply growth is putting on prices.” The […] [Read More]

After prices rose more than expected at auctions in July — up by 0.5 percent from June — rates in the lanes continue to rise as we approach fall. Last month, price movement was once again  “more positive than expected seasonally,” reported Geoff Helby, ALG Canada regional director. According to the ADESA Canada Used Vehicle […] [Read More]

For many customers, explains Rob Teitelbaum, buying a Mercedes-Benz can often be the celebration of a milestone event, like earning a medical degree, for example. There’s an excitement attached to that customer experience, and Teitelbaum – the new department manager for pre-owned operations at Mercedes-Benz USA – wants to make sure that same thrill exists […] [Read More]

Western Funding announced the first two dealers to receive their second payment as part of its Triple Pay program. Officials explained Triple Pay is Western Funding’s unique program that can give dealers the opportunity to build a portfolio of accounts and share in the profits of each deal. The program gives the dealers three opportunities […] [Read More]

On Thursday, Reynolds and Reynolds launched the Reynolds LAW Tennessee F&I Library, a comprehensive catalog of standardized, legally reviewed finance and insurance documents available to automobile retailers in Tennessee. The F&I resource for dealerships in the Volunteer State extended Reynolds’ expansion since the beginning of the year as the provider now has added this availability […] [Read More]