Analysts are predicting a larger flow of off-lease vehicles in the second half of the year to push down auction prices, but in June and for the whole first half of 2014, wholesale prices remained strong. According to the latest NADA Guidelines report, consumer demand for used and new cars was high last month, leaving […] [Read More]

Nicholas Financial opened its sixth branch location in the south Florida area this week. The indirect special finance company that originates subprime loans with more than 1,600 dealers now has a branch location in Miami Lakes, Fla. The Nicholas Financial branch office network now includes 66 offices in 15 states. “Each of the offices is […] [Read More]

This week, AFS Acceptance hired a new vice president of risk management to oversee all aspects of portfolio management and play a key role in the originations and collections strategy for the company. Tapped for the role is former Westlake Financial Services executive Greg Poppe. “We are thrilled to welcome Greg to the AFS team," […] [Read More]

Kelley Blue Book’s Consumer Sentiment Survey from the first quarter showed 33 percent of study participants didn’t expect to finance a vehicle purchase, and another 30 percent weren’t sure. Rather than thinking finance companies are going to fight over just 37 percent of those remaining shoppers who expected to secure an installment contract, KBB’s Dan […] [Read More]

It appears unlikely that the federal government will intervene any time soon with Tesla Motors’ desire to adopt a direct-to-consumer sales model on a national scale. In a response to a We the People petition created on June 5, Dan Utech, special assistant to the president for energy and climate change, outlined a few reasons […] [Read More]

Manheim and AutoTrader.com recently presented the first-ever National Association of Minority Automobile Dealers (NAMAD) Innovation Award to a dealer who the companies described as having positively impacted organizations and the industry. The 2014 NAMAD Innovation Award went to Steve Ewing, president and chief executive officer of Wade Ford of Smyrna, Ga. The award was presented […] [Read More]

Owners of eight Garden State franchised dealerships already punished by the New Jersey Division of Consumer Affairs 15 years ago entered into a consent order this week that included a settlement of $1.8 million, plus consumer restitution. New Jersey officials explained the settlement resolves a state investigation into what they described as alleged deceptive sales […] [Read More]

With increases in the amount of inventory flowing through the auction and other channels, dealers, it seems, are able to get their hands on an ample supply of used cars for their lots. Halfway through 2014, year-to-date auction volume is up nearly 4 percent against comparable weeks of 2013, according to the National Auto Auction […] [Read More]

Ready Auto Transport has announced it will be one of the lead sponsors for the Ride 430 Challenge. The fundraising occasion is a four-day, 430-mile biking event aimed at raising money for injured military personnel and their families. The challenge, which had its first iteration in 2008, has raised more than $1.8 million for military […] [Read More]

Manheim announced today it has chosen a new Canadian vice president. Appointed to the position is Danny Fayad, who will serve as vice president of sales and business development for Canada. In his new position, the VP will lead both the commercial and dealer account teams in Canada, the company said. He will also be […] [Read More]