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]

Consumer automotive shopping website CarGurus announced this week the hire of a new president. Sam Zales, formerly the chief executive officer of ClickSquared, now takes on the role of president of international and dealer operations at CarGurus. Zales also held former leadership positions at Zoom Information and BuyerZone in Boston. “I am thrilled to welcome […] [Read More]

Swapalease.com reported lease credit approvals on its website rebounded during October. The rate improved to 74.1 percent compared with 64.5 percent in September. Site officials indicated roughly three out of every four lease applicants were approved in October, an important indicator given the continued popularity of car and truck leases. Year to date, Swapalease.com has […] [Read More]

Black Book released the results of its Mobile Usability survey, which takes a deeper look into how industry professionals use mobile technology in their day-to-day business. Auto Remarketing previously spoke with Mike Williams, the vice president of mobile and direct sales at Black Book, to get a forward glance at the study’s results. The majority […] [Read More]

So, how much more money will a certified pre-owned vehicle fetch than a non-CPO used car? Edmunds.com answered that very question in its Q3 Used Vehicle Market Report. What the site found was that if you took a CPO model and its non-CPO used counterpart, the certified vehicle will notch a price premium of $1,341, […] [Read More]

Used prices remain elevated — the second quarter holds the record for highest used prices in history, and Q3 was the highest third quarter on record — and analysts are narrowing it down to two factors the industry expects are behind this trend. According to the Q3 2014 Used Vehicle Market Report from Edmunds.com, it comes […] [Read More]

Toyota Financial Services recently celebrated its 1 millionth eContract, an accomplishment that company officials believe to have demonstrated the success of this pioneering auto financing process. In January of last year, TFS introduced an electronic contract (eContracting) system for its dealerships. Through this process, dealers are able to transmit contract package information electronically — phasing […] [Read More]

An owner of an industry service provider as well as a veteran dealership manager recently achieved great success in examinations orchestrated by the Association of Finance & Insurance Professionals. Joining the ranks of a handful of professionals who have advanced to the second round of AFIP’s Master Certification Program is Michael Tuno, founder and president […] [Read More]

Hundreds of attendees walked through the corridors of the Red Rock Casino Resort & Spa during Used Car Week in Las Vegas, chatting with one another as they headed to general sessions, workshops and meetings with clients. It was the most-attended Used Car Week in the convention’s history, and perhaps the most diverse, as well: […] [Read More]

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]