Cooler air so far means softening prices in the lanes, according to John Brasher, in his Brasher’s Sacramento post-auction report for Tuesday. Over the past few weeks, he says all segments have been affected by a softening that, “Frankly, I think was overdue. “This summer the market seemed to get stronger and stronger; we saw […] [Read More]

San Francisco residents interested in a Fiat for their next vehicle need not travel far. The first Fiat showroom in The City by the Bay has opened its doors in the Van Ness Avenue corridor. Located at 1595 Van Ness Ave., the first FiatT studio within the San Francisco city limits is right on the […] [Read More]

NEW YORK — Fitch Ratings reported this week that prime annualized net losses crept up 3 percent in August above July's level, showing much less of an increase during this historically weaker period. Further, analysts highlighted that used-vehicle values were strong in August, not typical for this month to help to contain loss severity on […] [Read More]

NEW ORLEANS and WASHINGTON, D.C. — Panel discussions about collections at events hosted by the National Alliance of Buy-Here, Pay-Here Dealers sometimes stir the most attention from conference goers. This week's enforcement action revealed by the Federal Trade Commission regarding the illegal use of text messages in collections likely will give panelists and attendees at […] [Read More]

IRVING, Texas — Exeter Finance Corp. reiterated its commitment to bolstering its personnel by bringing in veterans of the U.S. military. It's all part of Blackstone's inaugural Veterans Hiring Summit. In support of the White House's "Joining Forces" initiative, Blackstone committed to hire 50,000 American veterans across its portfolio of 78 companies during the next […] [Read More]

Kia Canada Inc. announced a new online tool for dealers, fleet and rental partners that should make acquiring pre-owned and CPO vehicles a bit easier in this tight supply environment. Kia has partnered with web-based auction AutoGavel Exchange — powered by North Toronto Auction — to offer another online inventory option for dealers. [Read More]

LeasePlan USA announced this week the expansion of its sales team. Tasked with the responsibility of generating new business relationships for LeasePlan while delivering on the brand promise of “it's easier to Leaseplan,” are Bob Barna, sales vice president of strategic accounts, and Steve Arkon, sales vice president of national accounts. Barna brings a diverse […] [Read More]

With the collector car industry booming, Barrett-Jackson announced this week that the company has sold out of consignments for its Las Vegas auction, which is taking place at Mandalay Bay Resort & Casino today through Saturday. Company officials highlighted this sale will be the largest Las Vegas auction in their history with nearly 700 incredible […] [Read More]

Following its monthly survey of dealers and industry contacts conducted in August, KeyBanc Capital Markets said it remains “bullish” on the outlook for franchised dealers based on wide array of factors closely related to these stores. Analysts determined that used-vehicle sales should increase at the compound annual growth rate in the mid-single digits during the […] [Read More]

With lease penetration rates on new-vehicle sales reaching new highs, an industry observer mentioned to Manheim chief economist that some analysts have expressed concern and say that leasing is being used to boost sales artificially. Webb replied to that inquiry while also answering whether there is a “natural” lease penetration rate that, if exceeded, hurts […] [Read More]