Auction Broadcasting Co. recently revealed it has broken ground at the all new ABC Baton Rouge facility. This new auction is located on the Baton Rouge International Airport property in Louisiana, and in phase one will feature six lanes on 30 acres of land, the company explained. Mike Hockett, chief executive officer,  of Auction Broadcasting […] [Read More]

Tom Kontos noticed seasonal movement when ADESA Analytical Services completed its monthly analysis of wholesale used-vehicle prices by vehicle model class. ADESA determined wholesale used vehicle prices in March averaged $10,028 — a level 2.9 percent higher compared to February but 5.6 percent lower relative to the same month last year. “Wholesale used vehicle prices […] [Read More]

After spending more than two decades at Chrysler Group, Fred Diaz left the domestic automaker for an executive role with a Japanese OEM. Late last week, Nissan announced that Diaz has been named to the newly formed position of divisional vice president of Nissan sales and marketing in the U.S. Diaz will be reporting to […] [Read More]

A short time after four Japanese automakers announced they were recalling 3.4 million units worldwide because of an airbag issue, the National Highway Traffic Safety Administration said a domestic OEM is going to conduct a campaign for late models with airbag problems. Chrysler Group is recalling a total of 119,497 units — Chrysler 300, Dodge […] [Read More]

As spring got under way and perhaps more consumers were inspired to turn their interest toward fun, cruising rides, luxury certified and late-model pre-owned vehicles continued to be hard to find in March. According to the latest installment of vehicle scarcity data that is provided monthly to Auto Remarketing by AutoTrader.com, Porsche really “jumped out” in […] [Read More]

H. Carter Myers III, a third generation franchised dealer in Virginia, recently chose to honor family members and dealership employees by naming them Ambassadors of the National Automobile Dealers Charitable Foundation. Myers, who served as chairman of the National Automobile Dealers Association in 2002, said, “The Ambassadors program allows benefactors to basically set up a […] [Read More]

A new product being deployed to hundreds of dealerships could help them increase profits by a quarter million dollars or more each year, its maker says, by assessing employee engagement. Strativity Group Inc. late last week announced the release of its Automotive IMCO Model for assessing automotive dealership employee engagement. The product is being deployed […] [Read More]

The Chrysler brand will return for a second year as the official presenting sponsor of the world’s largest free jazz festival, officials announced on Friday. Extending its “Imported from Detroit” marketing campaign, Chrysler’s sponsorship aligns with the festival’s mission to celebrate Detroit and its residents, company and event officials noted. “Not only is the Detroit […] [Read More]

FORT WORTH, Texas — Along with a special educational track focused on the lease-here, pay-here industry, the National Vehicle Leasing Association just added another special speaker for its annual conference next week. NVLA said Rick Reekie, a partner in PricewaterhouseCoopers' tax projects delivery group, is now on tap to share his expertise and insight in […] [Read More]

IRVINE, Calif. — Consumer Portfolio Services announced late last week it entered into a new $20 million, five-year residual financing facility. CPS officials explained the facility is secured by eligible residual interests in two previously securitized pools of automobile receivables. With a portion of the proceeds, the company said it prepaid $15 million of its […] [Read More]