Two of the three domestic automakers made vehicle recalls last week, totaling about 120,000 units, most of which were included in four actions taken by General Motors. GM added to its extensive list of campaigns by announcing three safety recalls and one non-compliance recall; all of which the automaker said were reported to the National […] [Read More]

Manheim Riverside has received recognition from the City of Riverside, Calif., for its philanthropic efforts on behalf of community nonprofits, including teen crisis center Operation Safehouse. Also among its recent community efforts was participating in a fundraiser with Make-A-Wish, joining two other Manheim locations in California. More than 80 employees from three Manheim operating locations […] [Read More]

After falling 0.4 percent last month, auction prices were still on the way down during the first week of June. According to Black Book data, the car segments saw prices fall by $57 last week, larger than the $44 decline seen the week prior. This is compared to a $33 slide for cars during the […] [Read More]

Fitch Ratings determined delinquencies on prime U.S. auto loan ABS reached another record low in April, with the subprime sector posting a strong improvement, too. Analysts indicated the movements mean that asset performance is positioned for a strong summer. According to the latest monthly results from Fitch, auto loan ABS losses and delinquencies declined in […] [Read More]

Disparate impact theory is difficult even for the most seasoned legal experts to explain, so the American Financial Services Association is seeking to make sure the use of this tactic is prudent. AFSA and several financial services trade associations recently sent a letter asking all members of the U.S. House of Representatives to support Rep. […] [Read More]

The Manheim Used Vehicle Value Index dipped ever so slightly on a sequential basis in May. But if dealers remember what they paid for inventory during the same month last year, they’ll notice that more funds came out of floor plan this past month. Manheim determined wholesale used vehicle prices (on a mix-, mileage- and […] [Read More]

It has only been a matter of weeks since Asbury Automotive Group opened its first Q auto store. So, in speaking to the crowd at the Stephens Spring Investment Conference in New York this month, the retailer made it clear that it is a bit early in the game to get any real measurable feel […] [Read More]

At the recent Stephens Spring Investment Conference, the leadership of KAR Auction Services spoke on the expected influx of off-lease vehicles and how this trend will impact the company's businesses, as well as where these off-lease vehicles will end up in the remarketing process. The Wall Street Webcasting website provided a webcast of their presentation […] [Read More]

In a trend that was found to be rather consistent across different generations, used-car shoppers visiting CarMax stores have been particularly drawn to the Nissan Altima. According to the inaugural CarMax Used Car Shopping Report, the Altima is test-driven more often than any other vehicle at the company’s stores and is also the top-selling vehicle. […] [Read More]

AutoCanada announced today it has chosen a new chief financial officer. Christopher Burrows has been picked  for the position. Effective Sept. 1, Burrows will assume the role of vice president and CFO. As part of the transition, Jeff Christie, VP of finance, will continue in his current role; and effective Sept. 1, he will be […] [Read More]