The American Recovery Association enhanced its fifth annual North American Repossessors Summit by expanding to a three-day event to include a lender and recovery agent golf tournament, more networking opportunities and more speakers — all focused on the power of performance. Running from April 25—27, ARA is anticipating 600 professionals from the collateral recovery and […] [Read More]

Only four of the 14 used truck segments that Black Book tracks saw their prices go up last week, and one of those categories was the compact crossover. The firm shared some interesting data points Tuesday morning to better illustrate just what has happened in this class, including why it has been so hot on […] [Read More]

Stemming from success through a deal consummated last fall, Penske Automotive Group is diversifying further beyond the retail market, as the company announced today that it has acquired the assets and franchise rights to become the operator of Hertz rental car locations in certain markets throughout Indiana. Penske said it will now operate more than […] [Read More]

Dominion Dealer Solutions said today it has broadened the scope of its PRIME Response dealer reputation management program with social media engagement solutions and services. What PRIME Social will offer dealers is a tool for posting, sourcing and tracking social engagement, the company explained. “Going forward, dealers must have a plan for their entire web […] [Read More]

Dealers in the Lone Star State have a newly-endorsed option for dealer management systems. This week, Dealertrack Technologies and the Texas Automobile Dealers Association announced TADA’s endorsement of Dealertrack’s dealer management systems, inventory management, sales and F&I, registration and titling, and interactive solutions for use by Texas dealers. Bill Wolters, president of TADA, said, “Dealertrack […] [Read More]

Fresh off the best January in the history of the certified pre-owned market — which had followed record full-year CPO sales in 2012 — dealers had the most successful February ever in their certified operations, according to Autodata Corp.  Not to mention, it was also the strongest daily selling rate ever, Autodata indicated. The firm […] [Read More]

According to data from Edmunds.com provided to Auto Remarketing, the state with the lowest average age of vehicle trade-ins during February also happens to be one of the smallest, population-wise. With an average trade-in age of just 5.34 years, topping Edmunds’ list last month was Alaska. It was followed by North Dakota (5.42 years), Wyoming […] [Read More]

Last week’s auction activity was in line with the seasonal norms, according to  Black Book’s Ricky Beggs, who said, “We are definitely in the midst of the spring market.” And fuel rates are experiencing what managing editor Beggs contends is the “traditional first of the year gas-price climb where the national price at the pump […] [Read More]

It appears those highly anticipated off-lease vehicles not only are making their way through the wholesale market, but they’re providing a lift to retail used-vehicle sales, according to CNW Research’s rundown of February’s activity. As last month’s retail sales ticked up by more than 4 percent, CNW highlighted used sales of units from 1 to […] [Read More]

Along with intending to seek an amendment to its credit agreement, KAR Auction Services announced the commencement of an underwritten offering of 13.0 million shares of its common stock by existing stockholder KAR Holdings II subject to market and other conditions. Officials explained as a part of Monday’s announcement that KAR Holdings II is controlled […] [Read More]