Leadership from the American International Automobile Dealers Association and the National Automobile Dealers Association said they were “deeply sorry to learn” and “saddened” about American Suzuki’s decision to leave the U.S. automobile market. ASMC outlined its strategy for Chapter 11 bankruptcy, saying warranties will be honored, and service will be provided without interruption through the […] [Read More]

Much like the prediction Black Book released last week, the National Automobile Dealers Association is also expecting used-car prices to spike in the wake of Hurricane Sandy after the supersorm destroyed thousands of vehicles. In fact, NADA is predicting that as a result of the storm, December prices of used vehicles up to 8 years […] [Read More]

Fueled by revenue jumps within all three of its major divisions, KAR Auction Services said late Tuesday that its third-quarter revenue moved 6 percent higher year-over-year, creating a 1-percent rise in adjusted EBITDA. The company determined its third-quarter revenue came in at $474.9 million, up from $449.1 million in the year-ago period.  As a result, […] [Read More]

With online auctions becoming more popular and alternative channels like dealer-to-dealer sales  gaining ground,   wholesale buyers and sellers now have many choices for conducting   business. With that in mind, many in the industry may be left wondering what the future holds for the wholesale market; what will be the roles for these new wholesale options […] [Read More]

CARMEL, Ind. — Dealer Services Corp. of Indiana achieved another significant milestone recently by floor planning its three millionth vehicle. DSC celebrated the historic occasion by paying off the vehicle for the purchaser, which was Mouse Auto Sales and presented owner Claude Ellzey of Osyka, Miss., with an additional check for upgrades to his dealerships. […] [Read More]

DETROIT and HAUPPAUGE, N.Y. — As well as GrooveCar, a provider of point-of-sale credit union auto lending, Ally Financial is rolling out deferred payment assistance to customers in areas affected by Superstorm Sandy. Ally said today that it will offer a 90-day payment deferral program on the purchase of all new GM and Chrysler 2012 […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute found total filings in the United States for October increased 16 percent compared to September. According to data provided by Epiq Systems, October bankruptcy filings totaled 101,278, up from the 87,522 filings registered in September. ABI determined the 96,498 total noncommercial filings for October represented a 16-percent increase […] [Read More]

REDWOOD CITY, Calif. — The most recent RDN Monthly Analytics Update indicated September recovery volumes increased 4 percentage points from August levels. But, the September reading still settled 4 points below year-ago levels. RDN indicated September recovery orders climbed 6 percentage points from the previous month and also increased 5 percentage points year-over-year. The RDN […] [Read More]

As the vehicle damage from Hurricane Sandy continues to be sorted out, Carfax’s Mike Platts is teaming up with the National Automobile Dealers Association for a webinar tomorrow that will look at best practices for working with customers who are considering buying previously damaged cars. The free webinar — which begins at 1 p.m. EST […] [Read More]

Brasher’s Sacramento Auto Auction is seeing sales “typical” to this time of year, says auction president John Brasher, with some trucks and SUVs soft in the lanes. During last week’s Post Sale Report video, the executive also explained “the rental market was good but not great. But again, that is typical for this time of […] [Read More]