The latest session of Auction Academy was set to a rock ’n’ roll background, as its Managers Group convened in Spokane, Wash., just in time for DAA Northwest’s Rock ’n’ Roll Sale. A continuing education program developed by TPC Management Co., for professionals in the auto auction industry, Auction Academy’s latest class met July 15-17 […] [Read More]

SOUTHFIELD, Mich. — As company executives highlighted how much financing volume moved into its second quarter because of delayed federal income tax refunds, Credit Acceptance Corp. also discussed the impact the Consumer Financial Protection Bureau is having on its business. During a conference call detailing its second-quarter performance, chief executive officer Brett Roberts responded to […] [Read More]

HOUSTON — Ken Shilson, the president of the National Alliance of Buy-Here, Pay-Here Dealers, wants both new and experienced operators to be able to do at least one thing very well, no matter if they sell one vehicle a month or 1,000. The concept of decision making is the theme for NABD's next East Coast […] [Read More]

NEW YORK — Despite a slight uptick in loss rates in June, Fitch Ratings insisted U.S. auto loan ABS asset performance continues to be solid with historically low delinquency rates and loss rates at or near record low. Analysts explained there are numerous macro factors that are helping to bolster auto ABS performance. Among them […] [Read More]

CARMEL, Ind. — NextGear Capital announced a new vice president of operations and business development last week. Named to the role was Peter Grupposo, who will head up the company's market portfolio strategies and field operational structure. He will be based at corporate headquarters in Carmel, Ind. Grupposo's most recent post was as a regional […] [Read More]

CNW Research president Art Spinella said “unusual” several times Thursday when discussing July’s used-vehicle sales data with Auto Remarketing. Spinella chose the adjective because he wanted to explain why it was important to emphasize last month’s used sales figure based on month-over-month comparison rather than year-over-year. First, here are the numbers from CNW: Total used […] [Read More]

Hybrid and electric vehicle values are falling faster than any other segment, even though fuel prices remain above $4 per gallon in many states According to Kelley Blue Book’s latest Blue Book Market Report, hybrid and electric vehicle value declined exceeded 3 percent in July, topping the charts for depreciation this past month. Alec Gutierrez, […] [Read More]

Not conducting a recall in a timely manner according to regulators cost another automaker more than $17 million. The National Highway Traffic Safety Administration and Ford reached an agreement regarding the recall of 423,634 Ford Escapes from the 2001 through 2004 model years equipped with 3.0L V6 engines and speed control. According to federal documents, […] [Read More]

Starting in 1791, and with just a few rare exceptions, Congress has disbanded during the dog days of summer to return to their home districts for rest, relaxation, and some good old-fashioned politicking. These district work periods, traditionally held during the month of August, provide legislators with an opportunity to escape from Washington, D.C.’s sweltering […] [Read More]

A longstanding dealership has a brand new home, as the Larry H. Miller Group plans to cut the ribbon on its remodel of an award-winning dealership. Dean Fitzpatrick, president of Larry H. Miller Dealerships, announced this week that a grand opening and ribbon cutting celebration will be held on Aug. 13 for the newly located […] [Read More]