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]

Dealership service departments are a crucial aspect of customer retention and loyalty and they also serve as a key area for potential trade-ins to flow in. In other words, dealership technicians need to be on top of their game.  For General Motors dealers, the GM Technical Assistance Center handles thousands of calls from dealership technicians […] [Read More]

RALEIGH, N.C. — FNI president David Bafumo recently studied what he believes are the three most important sections relevant to auto finance companies and dealers from the examination manual issued by the Consumer Financial Protection Bureau. Bafumo dissected more than 900 pages and drilled deeper into the three segments that focus on unfair, deceptive or […] [Read More]

ATLANTA — 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 businesses should dealers and finance companies watch besides traffic to their own stores? Webb recommended that managers concentrate on specific businesses and retail sectors, most […] [Read More]