More than eight months after Rick Hackett left the Consumer Financial Protection Bureau, the agency tapped a replacement regulator on Wednesday whose main jurisdiction is the auto finance market. Joining the CFPB as the assistant director of installment and liquidity lending markets in the bureau’s research, markets, and regulations division is Jeffrey Langer, who most […] [Read More]

Though many are predicting supply to loosen a bit this year, causing used prices to slide, pre-owned prices aren’t quite there yet as seasonality comes into play. Used values are still pushing up as spring approaches, and the ADESA Canada Used Vehicle Price Index, powered by ALG, rose by 0.4 percent in February. Price spikes […] [Read More]

Prime Minister Stephen Harper’s announcement regarding a free-trade agreement between South Korea and Canada garnered a bit of a mixed review from the automotive industry and unions. Unifor, one of Canada’s largest unions in the private sector, even went so far as to say the Canadian auto industry is “threatened” by the free-trade deal with […] [Read More]

As published reports indicate the Department of Justice is preparing a criminal investigation of General Motors and the recall of more than 1.3 million older, discontinued models because of ignition problems, the automaker is offering $500 to owners of these units to put toward the purchase or lease of a new vehicle. But what about […] [Read More]

There was a 3-percent month-over-month increase in AuctionNet sales volume in February for cars up to 8 years in age, according to NADA Used Car Guide, which noticed particularly strong increases in transactions of cars from the 2014 and 2012 model-year classes last month. The latest Guidelines report indicates there were close to 1,600 AuctionNet […] [Read More]

Manheim operating locations across the U.S. were honored by customers for delivering top results in the vehicle remarketing industry in 2013, from service, volume and quality to auction of the year, the company said Wednesday. Presented during the NAAA/CAR/IARA event held last week in Las Vegas, the awards earned include recognitions for Auction of the […] [Read More]

ADESA’s Tom Kontos pointed to two factors as to why February’s wholesale price movement ended up being “atypical.” According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, used vaules in February averaged $9,839 — down 1.4 percent compared to January, but up 0.9 percent relative to February of last […] [Read More]

Though wholesale prices rose overall last month, according to Kelley Blue Book’s latest Blue Book Market Report, values for full-size pickup trucks are lagging behind the industry average. This may come as a surprise, since  large truck segments showed very strong retention levels throughout 2013. Much of this strength was due to a spike in […] [Read More]

Auction values may be on the rise as spring season gets underway, but fuel prices remain low. The result?  Consumers may be less inclined to shell out for fuel-efficient models such as the Toyota Prius. According to Kelley Blue Book’s latest Blue Book Market Report, auction values rose this past month, hitting an average of […] [Read More]

Another executive recently moved over from Santander Consumer USA Holdings to join the team at Exeter Finance Corp. On Tuesday, Exeter announced its new executive vice president of strategy and planning is Steve Zemaitis, who served in multiple executive roles at Santander, including chief credit officer and executive vice president of pricing and analytics. Zemaitis […] [Read More]