During the Owners’ Business Meeting earlier this month bringing together the owners of the 32 ServNet auctions, the members of ServNet confirmed their planned leadership transition. Patty Stanley — the co-owner of Carolina Auto Auction and Indiana Auto Auction — takes on the role of ServNet president for the next two years. This meeting was […] [Read More]

Enterprise Car Sales debuted its first-ever television commercial on Monday as part of a broader campaign geared to highlight the Enterprise brand as a total transportation solution. The company indicated the commercial focuses on the ease of a negotiation-free used-vehicle buying experience, a strategy Enterprise began in 1962. With approximately 130 locations nationwide, Enterprise Car […] [Read More]

At least for now, wholesale and retail price trends are both moving in directions that benefit dealers, according to the latest analyses from Black Book’s Ricky Beggs and CNW Research. First on the wholesale side, Black Book indicated car prices dropped on average of $74 last week — about the same rate they have decreased […] [Read More]

Along with unveiling plans to roll out a “One Sonic-One Experience” guest experience initiative next year, Sonic Automotive announced this morning that it plans to open stand-alone pre-owned specialty retail sales locations next year. This pre-owned business will be run separately from Sonic’s existing new and used dealership sales operations, the company said. Sonic is […] [Read More]

In the second of three new honors to be handed out during Used Car Week, Auto Remarketing and SubPrime Auto Finance News announced the inaugural winner of the Re3 Executive of the Year Award presented by Consolidated Asset Recovery Systems. Earning this accolade from a group of qualified candidates who specialize in the repossession, recovery […] [Read More]

Lease subvention climbed more than 5 percent year-over-year in September, which was the first increase in seven months, according to Autodata Corp. data in the latest Guidelines report from NADA Used Car Guide. The report noted that this lease subvention increase occurred even as overall finance subvention fell 4.7 percent, per Autodata. And lease origination […] [Read More]

Nissan recently entered the pool of automakers offering certified pre-owned electric vehicles, joining brands like Chevrolet and Tesla, whose respective Volt and Roadsters are already available as CPO units. And there may be more on the way. Larry Dixon, senior manager of market intelligence at NADA Used Car Guide, said he believes other automakers will […] [Read More]

SAN DIEGO — In the second of three new honors to be handed out during Used Car Week, Auto Remarketing and SubPrime Auto Finance News announced the inaugural winner of the Re3 Executive of the Year Award presented by Consolidated Asset Recovery Systems. Earning this accolade from a group of qualified candidates who specialize in […] [Read More]

IRVINE, Calif. — After wrapping up another quarter of net income growth, Consumer Portfolio Services again addressed competition in the subprime auto financing market. However, late last week, instead of touching on startups that are entering the arena, CPS chairman and chief executive officer Charles Bradley Jr. delved into how the company is navigating against […] [Read More]

CARY, N.C. — Lease subvention climbed more than 5 percent year-over-year in September, which was the first increase in seven months, according to Autodata Corp. data in the latest Guidelines report from NADA Used Car Guide. The report noted that this lease subvention increase occurred even as overall finance subvention fell 4.7 percent, per Autodata. […] [Read More]