Manheim Toronto is 50 years old this year, and the auction chose to celebrate this milestone earlier this month. Manheim Toronto, which opened in August 1964, hosted anniversary sales during its regular consignment sales on Oct. 7 at 10 a.m. and Oct. 9 at 6:30 p.m. The Town of Milton, Ontario, Mayor Gord Krantz even […] [Read More]

When dealership personnel say quickly and almost automatically that “we treat everyone the same,” what is really meant is that they greet prospects consistently and similarly with a sales process in person or digitally. However, having the capacity and ability to treat every walk-in customer the same simply can't be accomplished. It’s the perfect ideology, the […] [Read More]

Nearly three-fifths of car buyers turn to their mobile devices to read up on you and your fellow dealers, be it a review or a search for your store. That’s according to the 2014 Automotive Social Media Trends Study released by Digital Air Strike at the J.D Power Marketing Roundtable on Wednesday. “The overall trend […] [Read More]

As part of a reported recall of more than 1.6 million vehicles worldwide, Toyota Motor Sales USA announced plans to conduct a voluntary safety recall of approximately 423,000 Lexus vehicles for an issue with the fuel-delivery system. Included in the U.S. campaign are: — Lexus LS from the 2007 through 2010 model years — Lexus […] [Read More]

Forty cyclists, supported by Cox Enterprises’ Arizona-based Ready Auto Transport, completed a 430-mile bike ride, the Ride 430 Challenge, and raised more than $430,000 for injured military service members and their families. As the lead sponsor, Ready Auto Transport helped cover expenses for the event, including hosting the opening ceremony, providing support for riders along […] [Read More]

With the launch of the company’s “No Surprises” initiative, TrueCar Certified Dealers must now share “upfront information” on any non-governmental fees in the transaction — like document fees — as well as the costs for any accessories they add on to the vehicle. These fees and costs must now go alongside the Guarantee Savings off […] [Read More]

Wrapping up what would be the weakest third quarter for used prices since 2002, wholesale prices softened once again last month. According to the September installation of ADESA chief economist’s Kontos Kommentary, this marked the fifth month in a row auction prices have fallen. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices […] [Read More]

This week, EFG Companies and the National Association of Minority Automobile Dealers established an annual, private donor scholarship that will fund the four-year tuition of a minority student attending the automotive marketing and management program at Northwood University.  Officials highlighted the annual scholarship, funded by EFG Companies, will be awarded each year to a freshman […] [Read More]

Exeter Finance Corp. announced this week the pricing of a $500 million securitization backed by auto loan receivables.  The company indicated the private offering consisted of four classes of fixed rate notes issued by Exeter Auto Receivables Trust 2014-3 and priced on Oct. 9. Exeter highlighted the Class A notes were rated AAA/AA by DBRS […] [Read More]

Consumer Portfolio Services posted gains of more than 20 percent in both earnings per diluted share and revenue during the third quarter. The finance company bought more paper in Q3 compared to previous time frames and watched delinquencies and charge-offs rise only marginally. As a result, CPS chairman and chief executive officer Brad Bradley said […] [Read More]