Used-car sales fell for the third straight month, but the mood among many dealers still seems to be a positive one, according to Tom Webb, who addressed the used retail market as part of his analysis surrounding the monthly Manheim Used Vehicle Index. Webb, chief economist at Manheim, points to CNW Research data indicating that […] [Read More]

ADESA named a new vice president of finance operations and general manager of the ADESA business offices in Mesa, Ariz. Amy Carlson, with 16 years of business experience in finance and operations and five years of experience at ADESA’s Mesa office, takes on the new role effective immediately. She reports to Paul Lips, the executive vice president of operations and finance […] [Read More]

Analysis from Black Book and Manheim for how the wholesale market behaved in August showed somewhat similar conclusions even though the exact figures each company shared differed slightly. As the Manheim Used Vehicle Value Index retreated for the fourth month in a row, Black Book data showed the average price of a used vehicle for […] [Read More]

Only 11 percent of the wholesale value adjustments last week were increases, according to Black Book, which indicated that this ratio has not been this small in nearly 11 months. After recapping in-the-auction-lane comments from editors in his weekly video report, Black Book editorial director Ricky Beggs said: “The resulting analytical efforts and actual value […] [Read More]

Along with forging a new strategic partnership with Spireon, software provider AutoStar Solutions highlighted details behind Fusion 2, a new generation of dealer management system (DMS) for buy-here, pay-here dealerships, independent stores and auto finance companies. The company highlighted Fusion 2, or F2, will eventually replace AutoStar’s current Fusion DMS. AutoStar insisted F2 is the […] [Read More]

BillingTree recently completed its examination in conformity with Statement on Standards for Attestation Engagements (SSAE) No. 16, Reporting on Controls at a Service Organization for the period from May 1 of last year through April 30 of this year. The company said the examination was performed by an independent auditing firm. Completion of the SSAE […] [Read More]

This past Saturday was a silver one for Hyundai Capital America as the captive finance company that does business as Hyundai Motor Finance and Kia Motors Finance celebrated its 25th anniversary and a quarter century in Orange County, Calif. Originally formed as Hyundai Motor Finance Company in 1989, officials highlighted it was the fastest captive […] [Read More]

One of the marketing hooks that subprime finance companies of all sizes often use contains the pitch about how consistent payments can lead to steady reporting to credit bureaus and eventually the possible healing of the borrower’s profile. Hudson Cook partner Jean Noonan emphasized the recent enforcement action against First Investors Financial Services Group reinforces […] [Read More]

Hertz Global Holdings chairman and chief executive officer Mark Frissora has resigned from his position for personal reasons, the company said in a statement Monday morning.    Appointed by the company’s board of directors to serve as interim CEO is Brian MacDonald, the president and CEO of Hertz Equipment Rental Corp. Appointed as independent non-executive […] [Read More]

Dealers who advertise their vehicles on the popular auto classified site MonsterAuto.ca now have another way to make their store stand out. Mobials Inc. — a syndicated car dealer review program — announced a partnership with Monster Auto to integrate its ReviewMii car dealer reviews into the site. This news adds to an extensive list […] [Read More]