More subprime paper in finance company portfolios nowadays is continuing to push delinquencies higher. Experian Automotive determined both 30- and 60-day auto loan delinquencies climbed during the third quarter of 2014. According to its latest State of the Automotive Finance Market report, 30-day delinquencies grew 3.7 percent from the previous year. Similarly, 60-day delinquencies jumped […] [Read More]

Franchised dealers are not just selling more used cars. A greater proportion of those cars are certified pre-owned vehicles. In fact, the certified side of the business represented nearly 21 percent of total franchised dealer used-vehicle sales in the third quarter, compared to a CPO share of just under 19 percent in the same period […] [Read More]

Roughly two-and-a-half months after it was announced that chairman and chief executive officer Mark Frissora resigned from the position for personal reasons, Hertz Global Holdings will have a new president and CEO effective Friday. Appointed to the post and to the company’s board of directors is John Tague, who was most recently chairman and CEO […] [Read More]

Dealer review website DealerRater announced today the current leaders in its annual Dealer of the Year Awards Program for North America. The program awards Canadian and U.S. dealerships for distinction in outstanding customer service based on consumer reviews on the DealerRater website. The final five dealers for each make, for those manufacturers that had more […] [Read More]

Nissan Group hit 100,000 new-car sales in Canada in a calendar year as of Nov. 13. This is the first time the company has met this goal since arriving in Canada.  With this milestone comes a 27-percent year-over-year sales spike, which has been achieved in just over 10 months. The company reports the massive increase […] [Read More]

The Consumer Financial Protection Bureau made its first enforcement action in the buy-here, pay-here space and handed out an $8 million penalty against one of the largest operations in the business — DriveTime Automotive Group. CFPB officials said late Wednesday that DriveTime harmed consumers by making harassing debt collection calls and providing inaccurate credit information […] [Read More]

Dealer review website DealerRater announced the current leaders in its annual Dealer of the Year Awards Program for North America. The program awards U.S. and Canadian dealerships for distinction in outstanding customer service based on consumer reviews on the DealerRater website. The final five dealers for each make, for those manufacturers that had more than […] [Read More]

Earlier this week, Manheim announced upgrades to the search and sales functions of its online sales platforms: Manheim.com and OVE.com. Prior to this news, Auto Remarketing caught up with Jenifer Eggert — Manheim vice president of digital services — at Used Car Week to talk about these changes within the company’s online offerings. “The whole goal is to […] [Read More]

Manheim appointed six new general managers this week, one of which will head up its Montreal location. As part of what the company calls “its continuing focus on developing talent and improving its customer experience," Christina St-Germain has been promoted to general manager of Manheim Montral, located at 715, rue Dubois in St Eustache, Quebec. […] [Read More]

CarMax Inc. announced today the opening of its second store in Raleigh, N.C. The store, with more than 50,000 square feet, sits on over 16 acres of space and stocks more than 300 used vehicles. In preparation of the store’s opening, CarMax plans to donate $5,000 to the Boys & Girls Club of Wake County. […] [Read More]