AutoNation retailed close to 205,000 used vehicles in 2013, which was good for a 13.1-percent improvement during what turned out to be a record year on the earnings side for the nation’s largest dealer group. The company’s adjusted earnings per share from continuing operations for full-year 2013 of $2.98 was an all-time high; likewise, the […] [Read More]

In late January, TrueCar.com was calling for used-vehicle sales north of 4 million units for the month, with a new-to-used ratio under 1:3. This projection comes after CNW Research forecasted a much lower number: 2.32 million used sales for the month. The forecasted sum from CNW would be a 1.6-percent year-over-year decrease. But as CNW […] [Read More]

Manheim announced two major deals with two of the country’s largest dealership groups at the NADA Convention & Expo in New Orleans. The auction company was selected to be the exclusive remarketing partner of Hendrick Automotive Group, the nation’s second-largest privately held dealer group; and in separate news, Manheim has teamed up with Sonic Automotive […] [Read More]

The number of leases written in 2013 marked a 13-year high and a 26-percent year-over-year hike, according to the 2014 Used Car Market Report from Manheim. The report said there were 3.2 million lease originations in 2013; comparatively, when the market bottomed out in 2009, there were only about 1 million leases. Manheim also noted […] [Read More]

The new 2015 Chrysler 200, revealed at the 2014 North American International Auto Show in Detroit in January, is set to hit the markets in the second quarter. Amid the market buzz about the new model, David Paris, automotive analyst for NADA Used Car Guide, took a look back at the original 200 on NADA […] [Read More]

Almost exactly a year ago, AutoNation’s management was discussing its used-car performance during a conference call with analysts and said to expect stronger results from the retailer on the pre-owned side in the future. It appears they were spot-on. Reviewing annual results from 2012, AutoNation acknowledged at the time that its performance in used (relative […] [Read More]

It might be a bit off-putting to hear that your customer base is looking for ways around your traditional business model.  But in the case of the wholesale auto auction business, it may mean the chance to serve your customer base in a brand new way. That’s the way that Manheim executive vice president and […] [Read More]

At last year's National Automotive Finance Association Non-Prime Auto Financing Conference keynote session, Hudson Cook chairman Tom Hudson broke the ice by stating he could validate how great of a relationship he had with Rick Hackett, who at the time was assistant director of the Consumer Financial Protection Bureau. Now the connection between the legal […] [Read More]

Earlier this week, Exeter Finance Corp. announced that EFCAR, LLC, a special purpose Delaware limited liability company and wholly owned subsidiary, priced $650 million in aggregate principal amount Series 2014-1 automobile receivable backed notes, which will be issued in four separate tranches. Officials said the class A notes were rated AAA/AA by DBRS and Standard […] [Read More]

The American Financial Services Association installed Joy Falotico, executive vice president, marketing, sales and the Americas at Ford Motor Credit, as chair of AFSA's Vehicle Finance Division Board, succeeding Andrew Stuart of VW Credit. In this role, AFSA highlighted Falotico will oversee the division's initiatives and chair the 2015 Vehicle Finance Conference & Expo, which […] [Read More]