AutoTec announced this month that it has completed the upgrade of AuctionACCESS. With its upgrade to Version 4, all subscribing auctions, totaling more than 260, have been updated to include enhanced features, including commercial account credentialing, additional search capabilities and improved image uploading. The upgrade also provides a more efficient user interface and strengthened data […] [Read More]

ADESA, which entered the vehicle-redistribution industry in 1989, plans to celebrate its 25th birthday in an exceptional manner — by giving back to each of its 65 North American auction locations’ local communities through 25 good deeds. Hoping to wrap up the “fun acts of goodwill” by the end of the year, the company’s president […] [Read More]

The Worcester Polytechnic Institute announced this month that it will honor Dealertrack’s Mark O’Neil, class of 1980, with the university’s fourth-annual WPI Innovator of the Year Award. Serving as Dealertrack’s chairman of the board, president and chief executive officer, O’Neil made a public address on Thursday at WPI’s Alden Memorial. The award recognizes graduates or […] [Read More]

After adding to its impressive acquisition lineup this year with the purchase of flagship BMW and Mini dealerships in Quebec, AutoCanada reported its best quarter ever as well as a few changes to its top management in light of recent growth. Perhaps a direct result of its rapid acquisition history over the course of this […] [Read More]

Prices fell by two percent in the lanes last month, with some segments seeing rates drop by over 4 percent from 2013 levels. And back in September, used-vehicle prices, after adjusting for MSRP, fell by 0.6 percent from August and 2.7 percent year-over-year, according to the latest RVI Risk Outlook report. What factors are contributing […] [Read More]

Though gas prices have fallen under $3, there has been no major reaction in the lanes due to the rapid decline. According to the Black Book editorial director’s latest “Beggs on the Used Car Market” video report, the average price of gas has now fallen to $2.99, down 6 cents from the past week and […] [Read More]

When it comes to successfully selling a vehicle and getting it financed, particularly for subprime borrowers, dealers and automotive finance companies should heed the advice of former President Reagan and “Trust, but verify.” What we are seeing in the market, however, is that as subprime auto lending continues to grow at record-setting levels, most dealers […] [Read More]

Toyota Financial Services’ own Ann Bybee was honored with the Distinguished Service Award (DSA) by the American Financial Services Association at the AFSA’s 98th Annual Meeting in Los Angeles at the end of October. Bybee, the company’s vice president of corporate strategy, communications and corporate social responsibility, was one of three executives to receive the […] [Read More]

Bankruptcy filing in the U.S. took a double-digit slide this past month. That’s according to data provided by Epiq Systems Inc. to the American Bankruptcy Institute, which showed total bankruptcy filings fell by 12 percent year-over-year in October. Overall filings totaled 78,957 last month, down from 89,948 filed during October 2013, with Tennessee and Alabama […] [Read More]

October didn’t disappoint as a month that historically brings about some pretty dramatic price drops in the lanes. Overall, the average price of a used vehicle for model years 2009 through 2013 saw the largest wholesale price drops this year with a 2-percent decline. And according to Black Book data, this past month, two car […] [Read More]