Manheim Riverside in Riverside, Calif., hosted 62 members of the Pacific Southwest Chapter of the NAFA Fleet Management Association on June 10, the first time the location hosted this local chapter. A record number of members attended, most experiencing their first visit to a wholesale car auction. They were divided into four tour groups, led […] [Read More]

The litany of recalls at General Motors this year may wind up costing the automaker a great deal financially, but GM’s stores may actually realize some pretty nice gains — including attractive offers on the dealership buy-sell front. Haig Partners, which released The Blue Sky Report for the first quarter of 2014 on Wednesday, has […] [Read More]

June is looking like it will turn out to be a successful month for new- and used-car sales, even as the industry moves into the summer season that normally spells a slowdown after tax season highs. According to TrueCar data, used-car sales from franchised and independent dealers as well as private-party sales are estimated to […] [Read More]

KAR Auction Services chief executive officer Jim Hallett has won the EY Entrepreneur Of The Year 2014 Award in the consumer category for the Midwest and is now eligible to compete for national honors. An independent panel of judges selected Hallett as the winner of this award, which honors entrepreneurs for demonstrating excellence and extraordinary […] [Read More]

Extending a string of recent business developments, F&I Express finalized a strategic partnership on Tuesday with Supreme Software — The Dealership Tracker. The alignment formed integration creating a network that offers more than 60 providers that Supreme Software dealerships may gain access to for eRating, eContracting, eRegistering and remittance Officials highlighted the alliance means there […] [Read More]

Earlier this week, Credit Acceptance Corp. announced that it extended the maturity of its credit facility with a commercial bank syndicate from June 23, 2016 to June 23, 2017.  The company indicated there were no material changes to the terms of the facility. The credit facility continues to be secured by a lien on most […] [Read More]

Equifax determined the total dollar amount for subprime vehicle financing originated in March surged higher than any single month going back seven years. Credit bureau analysts found that subprime auto loans in March came in at $13.1 billion, marking an 8.8-percent increase year-over-year. Equifax had to go back to March 2007 to find a figure […] [Read More]

Nissan Motor Acceptance Corp. named its 2013 Auction of the Year on Tuesday, presenting the honor to Manheim New Jersey. This award is given to the top-performing auction in terms of superior operations, sales performance, effective marketing and value retention. NMAC said Manheim New Jersey, “delivered a solid sales performance based on percent sold and […] [Read More]

Philanthropic activities continued by ServNet auctions recently with a pair of inaugural events orchestrated by two member facilities — KCI Kansas City and Dealers Auto Auction of the Rockies. Back on May 8, KCI Kansas City held the first KCI Cares charity auction of the year with the proceeds benefiting Sheffield Place. Since Sheffield Place […] [Read More]

As part of its ongoing commitment to introduce products and services that drive business growth for customers, Manheim tapped on Tuesday two former NextGear Capital executives to be new vice presidents of national accounts. Now reporting to Manheim vice president of commercial sales Rich Coutu are Peter Grupposo and Janet Hendrixson. “We’re excited to have […] [Read More]