While the new-vehicle SAAR ticked up above 16 million in June — marking the industry’s best performance since November 2007, Manheim’s Tom Webb approached the trend with caution. Webb dissected two metrics — vehicle miles traveled and scrappage rates — to explain why he would caution dealers and other industry executives and observers not to […] [Read More]

Though luxury vehicles continue to be scarce, a few certified pre-owned vehicles, in particular, are proving hard to find this summer, as well. According to the latest installment of vehicle scarcity date that is provided monthly to Auto Remarketing by AutoTrader.com, certified models, such as the Hyundai Genesis and a few other trucks and SUVs, […] [Read More]

After years of tight used inventory following the 2008 recession, supply is on the road to recovery. And it’s showing in the lanes. Not only are dealers seeing more of the quality, pre-owned units they need, they are also experiencing much lower prices than seen in the past few years. In fact, wholesale used  prices […] [Read More]

Caprock Auto Remarketing announced Tuesday it has a new auction manager. Tapped for the position is Hollie Fleming, who brings 15 years of experience in collateral liquidation to the company. "I am excited to welcome Hollie Fleming, a proven industry veteran, to the Caprock team," says Caprock Auto Remarketing president Scott France. "Hollie understands the […] [Read More]

Autoshopper.com this week announced the release of a new and used inventory management tool that the company says can boost dealers’ social media efficiency. Rather than posting new and used vehicles to multiple social media sites, Autoshopper says its new Autopilot tool allows dealership personnel to post, network and communicate with social media customers eight […] [Read More]

ARI announced this week that it acquired the fleet management segment of a European operation, the business holdings of Fleetlevel+ Services GmbH. ARI indicated the transaction is expected to close in August. ARI president Carl Ortell highlighted the new company, which will be known as ARI Fleet Germany, supports ARI’s continued development of a strong, […] [Read More]

ATLANTA — Manheim economist Tom Webb described performances for both subprime financing companies as well as buy-here, pay-here dealers during the first half of this year in upbeat terms this week. And Webb believes the prospects for turning metal to buyers with soft credit histories are positive well into 2014 and possibly beyond. "The subprime […] [Read More]

LAKE SUCCESS, N.Y. — Today, Dealertrack Technologies launched its eMenu for iPad app, what the company described as an innovative F&I product presentation and selling tool designed to help dealers increase F&I product sales and profitability while enhancing the overall customer experience. The eMenu for iPad app can provide dealers with a new interactive tool […] [Read More]

CHARLOTTE, N.C. — American Lending Solutions recently expanded its relationship with Nationwide Management Services to include client-custom, door-knock and other debtor field services, building on the success of its agent compliance field inspection program that began on Feb. 1. "Where other companies are just getting their field compliance programs underway, ours is already ahead of […] [Read More]

WASHINGTON, D.C. — The Federal Reserve reported that interest rates for new-vehicle loans at commercial banks dropped to the lowest point compared to data that goes back to 2007. The rate for these 48-month contracts dropped to 4.13 percent in May. Fed data showed that the latest rate dropped from February's reading of 4.69 percent. […] [Read More]