Help us honor the top women leaders in the industry! Now in its fifth year, Auto Remarketing is continuing this tradition of recognizing excellence by now opening the nominations for its 2013 Women in Remarketing Class. [Read More]

NextGear Capital recently closed a $1.55 billion securitized bank facility. Led by the Bank of Tokyo-Mitsubishi, the company highlighted the two-year securitized facility provides flexibility and tremendous lending capacity through a large six bank syndicate. Executives noted the new bank facility complements the existing privately placed AAA-rated term bond financing that NextGear Capital has in […] [Read More]

ShipCarsNow named a new president who will take on the role effective March 4. Tapped for the position at Union Pacific Railroad’s subsidiary is Marty Coalson, who will succeed Roland Fortner who will be taking a new position within Union Pacific’s marketing and sales group.  Coalson has been with Union Pacific for 34 years, most […] [Read More]

Last week I mentioned dealers who expressed less optimism than their peers about a strong used-vehicle market this coming spring. These dealers were saying things like: “I’m taking every used vehicle deal I can. I’m not holding out for gross because I believe the supply will be there to replace it. I’m trying to get […] [Read More]

Last week, the Westlake Financial Services Remarketing Department named its top auctions for 2012, with four locations taking home the honors. The honorees are as follows: Rawls Auto Auction (Leesville, S.C.) was named the Eastern Region Auction of the Year; Kansas City Independent Auto Auction (Kansas City, Mo.) takes top honors for the Midwest, and […] [Read More]

Auction Academy, which saw industry participation that exceeded first-year expectations, will start its second year off with a new president. Pierre Pons, president and chief executive officer of TPC Management Co., which developed Auction Academy, announced that Richard Curtis will serve as president of the professional education program for the auto auction industry. “The independent […] [Read More]

NEW YORK — Chase Auto Finance appointed a new chief executive officer today, succeeding Marc Sheinbaum who has asked to pursue other opportunities. Moving into the role is Thasunda Brown Duckett who previously was part of Chase's consumer and community banking division. Duckett also served as national retail sales executive for Chase's Mortgage Banking division. […] [Read More]

BANDON, Ore. — While approvals for subprime deals is one of the factors that appears to be taking some steam out of new-vehicle sales momentum this month, CNW Research also noticed that the percentage of used-vehicle contracts with buyers having FICO scores below 670 is at the highest point since January 2010. The firm indicated […] [Read More]

BENTONVILLE, Ark. — As more lenders are buying deeper into subprime pools, buy-here, pay-here dealership chain America's Car-Mart managed to post a 16-percent increase in the number of units sold during the third quarter of its fiscal year. Car-Mart turned an average of 29.2 units at each of its 118 stores in operation during the […] [Read More]

LOS ANGELES — In a state where more regulation went into place this year specifically targeted at buy-here, pay-here stores, Nowcom Corp.'s DealerCenter and the Independent Automobile Dealers Association of California announced today that they have entered into a memorandum of understanding for co-marketing and co-branding purposes. IADAC and dealer management solutions provider DealerCenter agreed […] [Read More]