For dealers, the success of their sales staff is perhaps one of the most important elements of the entire store. In studying the most troubling roadblocks for sales staff during sales negotiation, Joe Verde Sales and Management Training found that price is perceived to be the most troubling part of the sales negotiation process. In […] [Read More]

According to information sent to Auto Remarketing on Monday, Ford issued a total of three safety recalls, with the largest being for approximately 465,000 vehicles from the 2013 model year. That particular recall was issued because a fuel delivery module in the fuel tank may leak. The vehicles included in that  campaign are the 2013 […] [Read More]

KAR Auction Services announced Monday the commencement of an underwritten offering of 15.0 million shares of its common stock by existing stockholder KAR Holdings II LLC, subject to market and other conditions. KAR said it will not receive any proceeds from the offering. Officials explained the LLC is controlled by entities affiliated with Kelso Investment […] [Read More]

ARI recently held a celebration to honor its 2012 Regional Auction of the Year award winners, spotlighting these facilities that “exhibit a commitment to consistent quality and superior customer service.” Receiving the annual award were: •    Northeast Region    Southern Auto Auction (East Windsor, Conn.) •    North-central Region    ABC Detroit/Toledo (Perrysburg, Ohio) [Read More]

Element Financial Corp. and GE Capital announced a definitive asset purchase agreement late last week under which Element would acquire GE Capital’s Canadian fleet portfolio. The deal the companies entered would also result in Element and GE Capital creating “a strategic alliance to deliver comprehensive vehicle fleet financing and management services to cross-border customers in […] [Read More]

As May came to close, new- and used-car sales predictions for the month flowed in. Most all of the reports showed positive year-over-year and monthly growth, with automakers expected to see double-digit sales increases right and left. Edmunds.com predicts that an estimated 3.14 million used cars will be sold in May, for a SAAR of […] [Read More]

Copart announced more than just the third-quarter financial performance of its current fiscal year as the company also said late last week that it acquired Salvage Parent, which conducts business primarily as Quad City Salvage Auction, Crashed Toys and Desert View Auto Auction. The move is leaving Copart management with the task of how to […] [Read More]

Kelley Blue Book reported last week that used auction values reached a three-year low in May and also highlighted a few interesting trends within the segments, some based on seasonality with high incentives playing a role, as well. First up, highline vehicles retained a bit of price strength in the lanes this past month. Auction […] [Read More]

Manheim chief economist Tom Webb gave some examples of retail sectors that might give a  “true sense of the psyche of many used-vehicle buyers.” So what kinds of business should dealers watch besides traffic to their own stores? Webb recommended that managers concentrate on specific businesses and retail sectors, most notably Walmart, dollar stores and […] [Read More]

With “ups” not arriving on the physical lot as much as they previously did, Paul Potratz recommended that dealers get a better handle on how many unique visitors come to the store’s website and how many are converted into leads. The chief operating officer and founder of Potratz Partners Advertising shared advice in an online […] [Read More]