One of Used Car Week’s presenters and the sponsor of the SubPrime Auto Finance Executive of the Year award — Black Book Lender Solutions — finalized the integration of its vehicle valuation data into three more providers of loan origination systems used by finance companies. Recent integrations announced on Monday include Credex, Compass Technologies and […] [Read More]

U.S. Sen. Mike Crapo, the ranking member of the upper chamber’s Banking Committee, recently received his requested analysis of the Consumer Financial Protection Bureau by the Government Accountability Office, confirming his apprehensions about what the bureau is doing. Crapo highlighted the GAO’s comprehensive study confirmed the CFPB is collecting financial data on up to 600 […] [Read More]

The latest respective philanthropic efforts by Manheim and Dealer’s Auto Auctions are designed to help some worthy constituencies — military veterans and impoverished youth. Basketball fans might remember this name from the 1990s: Anfernee “Penny” Hardaway. Dealer’s Auto Auctions kicked off a two-day fundraising campaign with a silent, and not-so-silent auction of some of Hardaway’s NBA […] [Read More]

Ford announced on Friday that the automaker is recalling 850,050 vehicles in the U.S., Canada and Mexico because of potential issues with the restraints control module that could prevent the airbags from functioning correctly. Blue Oval officials indicated this campaign covers Ford C-MAX, Fusion, Escape and Lincoln MKZ vehicles in North America from the 2013 […] [Read More]

Dealer and consumer satisfaction with the Costco Auto Program certified pre-owned offering is on the rise, according to CNW Research. The firm said in its latest Retail Automotive Summary that the majority of Costco CPO users — dealers and consumers —  found it to be either a “good” (31.3 percent) or “excellent” (21.8 percent) experience. Those […] [Read More]

Auction Edge announced that it has added several new auctions to its national network and says it has also increased participation across all of its product lines. The company has also expanded its suite of product offerings. In addition to Edge ASI, Auction Pipeline and Edge Simulcast, the company now offers Edge Multi-List, Edge Lookout and […] [Read More]

At the NAAA Convention in Boston, the National Independent Automobile Dealers Association awarded its 2014 Auto Auction of the Year honors to Dealers Auto Auction of Huntsville, Ala. The award, which began back in 2008, is designed to highlight an NAAA member showing the highest level of customer service and resources for NIADA dealers, while also […] [Read More]

In an analysis released earlier this month, CNW said that September could have brighter days in store for the used-vehicle market following a rather tough August.  Seems CNW was right on the money with its predictions, as used-car sales this month will likely beat year-ago figures by more than 2 percent. But that is not the only positive sign […] [Read More]

NextGear Capital appointed a former Wells Fargo executive to be its new division vice president for the company’s East region. Taking on this role is Todd Gunderson, who will be responsible for the oversight of the company's business development and growth throughout the Eastern region of the United States. “At NextGear Capital, we are about […] [Read More]

CNW Research contends subprime approvals are moving higher this month at a pace possibly even better than what the exact figures indicate. According to the firm’s latest Retail Automotive Summary, subprime approvals so far this month are registering 17.7 percent higher than September of last year. On a month-over-month basis, the increase is about a […] [Read More]