From free barbecue and boxing to legendary rock bands in concert, ServNet auctions are preparing for this summer’s sales. R. Charles Nichols, ServNet president, said: “The summer’s market does not cool down in the ServNet world. In June, July and August, ServNet auctions hold huge events that set the bar for innovation and impact on […] [Read More]

Southeast Toyota Distributors announced seven senior-level promotions on Tuesday, all of which become effective June 1.  The appointments are as follows: — Hank Grooms takes on the new role of vice president, marketing and field operations. Prior to this position, Grooms was vice president of marketing. — Michael Brennan will be promoted to vice president, […] [Read More]

LAS VEGAS — Dealers feverishly took notes in a packed conference room on Tuesday as a quartet of legal experts shared compliance procedures these owners and managers can immediately put into place upon returning to their stores after the National Alliance of Buy-Here, Pay-Here Dealers National Conference. In a regulatory world intensifying thanks to the […] [Read More]

LAS VEGAS — For dealers who want to use their smartphones to see where a vehicle might be that's attached to a delinquent customer, Spireon is about to give them that capability. Today, Spireon is offering a sneak peak of its new enhanced mobile platform for its GoldStar GPS solution, a tool the company says […] [Read More]

NASHVILLE, Tenn. — After a year of multiple acquisitions, Primeritus Financial Services rebranded several of its business service segments. Explaining the methodology behind the decisions, Primeritus Financial Services chief executive officer Chuck Tapp said: "Since the acquisitions of USA Recovery and Renovo over the past year, Primeritus has worked with customers and clients to better […] [Read More]

CLEARWATER, Fla. — Publicly traded specialty consumer finance company Nicholas Financial watched its net earnings soften by 20 percent during the fourth quarter, pushing its year-end figure lower by double digits. For its fiscal year that ended March 31, the company reported that its net earnings decreased 10 percent to $19.966 million as compared to […] [Read More]

The Big Apple is tops when it comes to used-car sales by independent dealers and between private parties, but the crown for most used sales by franchised dealers is actually claimed by the nation’s second-largest city, according to CNW Research. Los Angeles was No. 1 on CNW’s list of top 10 DMAs for used units […] [Read More]

Have plans for mid-November? Join us for the Used Car Week 2013 conferences, scheduled for November 11–15 at the Manchester Grand Hyatt in San Diego. And conference organizers are offering attendees something new this year. Events on tap now include the all new SubPrime Forum. [Read More]

Increased dealership profitability is the goal of a new addition to NCM Associates’ “38 in 8” program, announced by the company this week. NCM says the new one-day operational review format for dealerships’ fixed operating departments is now offered as an additional option under its “38 in 8” in-dealership consulting program. The service is designed […] [Read More]

As used vehicle days’ supply continues to grow — sitting at 50.46 during the first few weeks of the month   —  transaction prices for franchised dealers in May are dropping a bit. CNW said in the Retail Automotive Summary released Monday afternoon that in the opening weeks of this month, average franchised transaction prices ($10,958) […] [Read More]