This week, Consumer Portfolio Services announced the closing of its first term securitization of the year. The transaction is CPS’ 12th senior subordinate securitization since the beginning of 2011. In the transaction, qualified institutional buyers purchased $180 million of asset-backed notes secured by automobile receivables purchased by CPS. The sold notes, issued by CPS Auto […] [Read More]

Making a trio of senior leadership announcements, KAR Auction Services said Thursday afternoon that it has created a chief operating officer position that will be filled by Don Gottwald, who has been chief executive officer of KAR subsidiary Automotive Finance Corp. since 2009.  John Hammer, who has been president and COO of AFC since 2013, […] [Read More]

If there is going to be any impact on the wholesale values of models included in General Motors’ recent ignition-switch recalls, it will likely occur either this week or next, NADA Used Car Guide’s Larry Dixon told Auto Remarketing in an interview Thursday afternoon. If it doesn’t happen during this time frame, it likely won’t […] [Read More]

The role of ringman is vital to the auction sales process, and fleet services provider ARI has publicly recognized two such employees with its Ringman of Distinction Award. The award from ARI, which recognizes the outstanding contributions of ringmen at various vehicle auctions, was recently presented live in the auction lanes to Art Mecias of […] [Read More]

RouteOne Canada announced recently it has completed integration with CU Dealer Finance Corp. — a Saskatchewan-based network of Credit Unions touting a large dealer network across the area. What does this mean for dealer customers? Now, CU Dealer Finance Corp. dealers will be able to send credit applications electronically through the RouteOne Canada platform, as […] [Read More]

Andrew Lennox — general manager of Pfaff Volkswagen in Newmarket, Ontario — is already a familiar name with readers as he was featured in the January/ February issue of the Auto Remarketing Canada Digital Magazine. Now, Lennox is back as the 2014 Auto Remarketing Canada Dealer of the Year. Chosen by Auto Remarketing Canada staff […] [Read More]

The 2014 Auto Remarketing Canada conference wrapped up on Tuesday evening after two days of networking, innovative workshops, panels and more. With over 600 attendees — more than 40 percent of whom were dealers — the opportunities to make lasting and beneficial business relationships were abundant. On top of an impressive number of dealers, our […] [Read More]

As the recall scrutiny coming against General Motors intensifies and two German automakers outlined separate smaller campaigns, Toyota closed the book on a federal recall investigation that first brought plenty of negative attention to the OEM more than five years ago. On Wednesday, Toyota said it reached an agreement with the U.S. Attorney’s Office for […] [Read More]

Wholesale prices are projected to climb just under 1 percent this week, and four segments are expected to move up even more than that, according to AuctionNet data provided to Auto Remarketing by NADA Used Car Guide. NADA is anticipating that AuctionNet wholesale prices this week will climb 0.9 percent (or $150) against the two-week […] [Read More]

In a list that could serve as a selling point for dealers trying to move lower-priced used vehicles, Cars.com named 10 used cars that it considers to be the best in the $10,000 ballpark. After processing a good bit of data, the site said on its Kicking Tires blog that it narrowed down a list […] [Read More]