Along with giving an update on how many dealers are using its mobile apps, Manheim highlighted the benefits from the investment in its new Enhanced Vehicle Imaging Suite, which is aimed at helping customers who have struggled to find vehicle condition reports with consistent imaging quality. Manheim introduced the Enhanced Vehicle Imaging Suite to customers […] [Read More]

After announcing a successful second quarter, Carfinco reported strong growth in both its Canadian and United States operations in August. In fact, the company reported growth in Canada that represented the largest single month growth since October 2012. Last month, Carfinco’s Canadian finance receivables grew by 21.8 percent year-over-year. Farther south, the company’s U.S. receivables […] [Read More]

AutoNation has increased both its footprint in the Northwest as well as the number of its approved vendors, with the retailer adding the dealer-direct marketplace DealersLink to that roster.  Starting with its store purchases, AutoNation announced Wednesday it has signed agreements to acquire Audi, Mercedes-Benz, Porsche and Volvo stores in the Seattle-Bellevue market from Barrier Motors.   The move […] [Read More]

American Bankruptcy Institute officials noticed August contained the largest year-over-year drop in filings thus far in 2014. According to data provided by Epiq Systems, total bankruptcy filings in the United States decreased 16 percent in August compared to the same month last year. Bankruptcy filings totaled 75,170 in August, down from the August 2013 total […] [Read More]

Despite Comerica Bank saying the latest economic trends might be better than the raw numbers indicate, Requisite Press insisted when it released its August Auto Buyer's Affordability Index (ABAI) on Wednesday that a growing economy is “simply not” enough to expand buyer access. The August ABAI came in at 54.8, indicating that a prudent, median-income […] [Read More]

Fitch Ratings asserted that U.S. auto lease ABS will continue to perform within expectations, and ratings will be stable even though analysts understand that used-vehicle values will continue to decline moderately from their recent “untenable” highs. Fitch also projected that the robust loss protection in auto lease ABS (including continued realization of residual gains) will […] [Read More]

National Automobile Dealers Association members are gathering on Capitol Hill this week to urge Congressional lawmakers to pass bipartisan legislation that franchised dealers say would nullify the Consumer Financial Protection Bureau’s “flawed” guidance on auto lending. NADA explained H.R. 5403 — the Stutzman-Perlmutter Bill — also would require more transparency and accountability from the CFPB […] [Read More]

Lynnway Auto Auction named a new vice president of national account sales, and appointed to that position is a former leader at ARI and State Line Auto Auction, Jeff Bennett. “It is with great pleasure that we welcome Jeff Bennett to Lynnway Auto Auction,” said company president James Lamb.  “His many years of experience in the […] [Read More]

LotLinx, developers of platform aimed at connecting more than 6.5 million consumers who are searching vehicle inventory online every month directly to the dealership websites where that inventory resides, appointed a new vice president of product management on Tuesday. Taking on this role is former Dealix executive Dave Shefferman. LotLinx highlighted that Shefferman has nearly […] [Read More]

The more time someone spends on the Web during the car-shopping process, the more dealerships they are likely to visit. That’s according to the J.D. Power 2014 New Autoshopper Study released Tuesday, which examines the use of digital devices (computers, smartphones and tablets), websites and apps during the car-shopping and research process. On average, what J.D. […] [Read More]