ADESA announced this morning that its subsidiary, PAR North America, is the recipient of TD Auto Finance’s Repossession Vendor of the Year. TD Auto Finance chose PAR based on its outstanding ratings for compliance, performance and communication. According to the announcement, the company was the segment leader in key areas, such as repossession rate, time […] [Read More]

The past two years have been full of expansion and movement for CarProof, as the company entered both the reconditioning and vehicle valuation market. And it seems change is in the air for management, as well. Announced this morning, Paul Antony, chief executive officer and founding member of CarProof, is stepping into the role of […] [Read More]

The National Highway Traffic Safety Administration sent a letter last week to Chrysler Group chairman and chief executive officer Sergio Marchionne describing what the agency deemed to be a “woeful” recall repair completion rate for older model SUVs whose fuel tanks may rupture if the vehicles are struck from behind. The head of the automaker […] [Read More]

The owners of the 31 ServNet Auctions locations met up at the end of October in Waverly, N.Y. for the Fall Owners’ Meeting. The event, which took place Oct. 23 through Oct. 25, was hosted by the Barber family at State Line Auto Auction. The family, as part of the founding members of the auction […] [Read More]

Expect monthly used-vehicle sales for November to end up a good bit softer than they were in October, but the seasonally adjusted annualized rate should actually be about 2 percent higher. An Edmunds.com analysis released Monday is predicting an estimated 2.64 million used sales for November, down from 2.96 million in October. However the used-car […] [Read More]

As dealers and buyers started gearing up for Black Friday sales promotions last week, price trends in the lanes were “interesting,” to say the least, said Black Book’s Ricky Beggs. The editorial director noted in his latest “Beggs on the Used Car Market” video that prices in the auction lanes were described as “all over the board” […] [Read More]

As of the end of the year, General Motors Canada will have a new leader. Stephen Carlisle has been named president and managing director of GM Canada. Carlisle will be succeeding Kevin Williams, who has led the company since 2010. The automaker reported Williams, who has elected to retire, effective Dec. 31, will stay on […] [Read More]

WeGoLook and Innovative Funding Services (IFS) recently launched their new partnership designed to assist buyers with auto financing and warranties through WeGoLook’s partner services — which can equip consumers with resources for completing their entire vehicle purchase online. The companies explained individuals can shop on their favorite websites such as eBay Motors, AutoTrader.com and Cars.com. […] [Read More]

TransUnion explained why a rise in delinquencies within the subprime segment of the auto financing market reflects a “healthy” condition. Analysts indicated the subprime delinquency rate — those consumers with a VantageScore 3.0 credit score lower than 601 — increased from 4.50 percent in the third quarter of last year to 5.31 percent in the […] [Read More]

Manheim announced this morning the appointment of former NextGear Capital chief operating officer Shane O’Dell into a new position with the company. As Manheim’s first senior vice president of wholesale services, O’Dell takes on the responsibility of setting and executing key business strategies around Manheim’s third-party logistics. The company’s wholesale services include vehicle transportation, reconditioning, condition reporting, […] [Read More]