BANDON, Ore. — It is appearing to be a successful tax season for dealers if the February data from CNW Research is any indication. CNW said the number of subprime buyers of used vehicles soared 53.2 percent in February versus the same month a year ago while purchasers with FICO scores below 550 is up […] [Read More]

CARMEL, Ind. — J.D. Byrider watched the fourth quarter become the largest growth period in the history of the buy-here, pay-here dealership chain. To generate $142.6 million in sales from October through December, the company turned a record number of vehicles during the fourth quarter, moving 12,054 units to bring the year-end total to 50,634. […] [Read More]

DETROIT — Ally Financial launched a new advertising campaign for its U.S. automotive business today as the company continues to look to grow and diversify its dealer client base. With the new theme, "Ally. It's more than our name, it's our promise," the company highlighted the campaign features dealers sharing compelling stories of business and […] [Read More]

TUCSON, Ariz. — Vendor Transparency Solutions, an Arizona-based compliance management company, and Michael Dougherty of Weltman, Weinberg & Reis, a large creditors' rights law firm, are announcing the launch of a series of free Consumer Financial Protection Bureau compliance webinars. Organizers indicated the webinars, each covering different CFPB topics, will be made available to auto […] [Read More]

For their respective certified pre-owned programs, Hyundai and Volkswagen both celebrated their best February ever, and Mercedes-Benz pushed its CPO sales up 26 percent. These are just a few of the storylines that were developing in the certified market as automakers began reporting monthly CPO sales late last week. Starting with VW, its 7,301 certified […] [Read More]

The number of units flowing into the auction lanes this year is expected to jump to about 7.9 million units, according to the 2013 Used Car Market Report from Manheim. This would be a 5-percent increase from 2012, the report indicated. And while still down significantly from the 10 million-unit-mark reached in 2003, this growth […] [Read More]

Along with offering another update on how the company is navigating the costs associated with processing vehicles destroyed during Superstorm Sandy, Copart highlighted the early success of its mobile apps that were launched at the end of the second quarter of its current fiscal year. Copart said 30,000 users downloaded the apps for Android, iPhone […] [Read More]

Now in its 11th year of recognizing the top auction sites across the country, Toyota Financial Services and Lexus Financial Services awarded their 2012 Premier Auction Awards this week, the company’s highest recognition of excellence in the remarketing industry to 10 auction sites for their 2012 performances. The 2012 LFS Premier Auction Award winners are […] [Read More]

MaxTradeIn — an online marketplace that allows car owners to trade-in or sell their vehicle to local dealerships competing for their business — has been working with 36 franchised dealers in Indianapolis after launching late last year. There have been more than 1,000 vehicles listed on the site in two months, and this week, the […] [Read More]

In conjunction with a new internal program focused on sustainable business practices, Manheim Seattle announced Thursday it has made a donation to the Mountain to Sound Greenway Trust. In an effort to reinforce their commitment to support local green efforts, the $12,500 gift is made in conjunction with the first-ever Cox Conserves Chairman’s Cup, an […] [Read More]