HOUSTON — First Investors Financial Services announced late last week that it has completed the issuance of $187 million in term asset-backed notes in a private placement transaction. The notes were issued by a wholly-owned subsidiary of the company through the First Investors Auto Owner Trust 2013-1. Officials explained the notes consist of five sequential […] [Read More]

ATLANTA — An industry memorial service is on tap next month in honor of Auto Auction Services Corp. president and chief executive officer Don Meadows, who died on Dec. 10. The event will take place at the Westin Atlanta Perimeter North in Atlanta on Feb. 28 from 11 a.m. to 2 p.m. ET.  Lunch will […] [Read More]

It seems the year is off to a roaring start in terms of used-car sales. With Edmunds.com expecting an estimated 3.21 million used cars to be sold this month — for a SAAR of 40.2 million — CNW Research anticipates the number will reach 2.3 million units, up 4 percent year-over-year. And both franchised and […] [Read More]

Store managers and finance executives now can pluck guidance from new reference books when they have situations regarding compliance with a specific federal act as well as — in the case of franchised dealerships — relationships with parent manufacturers. CounselorLibrary.com, the publisher of auto financing and leasing legal compliance services, announced the newest in its […] [Read More]

How important is your online advertising strategy? Dealers rely on customer relationship management to gauge how many shoppers are citing the Internet as incentive to visit a dealership, but this practice may not be providing accurate results, according to a recent study.  This week, AutoTrader.com released a new white paper called “The CRM Paradox,” which […] [Read More]

ADP Dealer Services and RedBumper have teamed up to create a new way for dealers to manage their used-vehicle inventories via mobile devices. ADP Dealer Services this week announced its new retail solution called Lot Management, as what the company called the first of many solutions to be wrapped into its Front Office Edge suite […] [Read More]

As the company continues its growth plans, JMN Logistics said Wednesday that it has added several new services to its vehicle transport offerings. Specifically, JMN said it now is providing enclosed hauling and has opened up a new “General Freight” division. “It seems like a natural progression,” said chief operating officer Cindy Darnell. “We have […] [Read More]

Brasher’s Auto Auctions named a new general manager at Brasher’s Northwest Auto Auction in Eugene, Ore., on Thursday. Promoted to the role was Mark Melton, who has worked for Brasher’s since 1998 when he joined the sales team at Brasher’s Portland Auto Auction. After 18 months in Portland, Melton moved to Eugene to oversee the […] [Read More]

I received a note from a Midwest velocity dealer who ran into unexpected trouble during a recent meeting with his dealership managers and majority partner. It read: Dale: I had my annual forecast meeting last week with all my managers and our majority shareholder in the company. Keep in mind 2012 was a record year […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE BANDON, Ore. — CNW Research spotted another upbeat element about the lending landscape for this year: another rise in the number of automotive finance contracts that will be refinanced. The firm determined in its analysis as part of its Purchase Path Study that the amount of current […] [Read More]