Auto Remarketing has learned that Mercedes-Benz USA has a new manager of pre-owned operations. Scott Penza, who held the role previously, has moved over to work on sales incentives in finance at MBUSA. Now managing pre-owned for the company is Rob Zilinski, who has been with Mercedes-Benz for 16 years. Zilinski spent 10 of those […] [Read More]

Industry experts report that used prices remain stagnant for both independent and franchised dealers, with prices dropping to rates quite a bit lower than seen in 2012. CNW Research president Art Spinella said used-vehicle prices remain stagnant on both a retail and wholesale level. So far this month, prices are down 2.73 percent for franchised […] [Read More]

Three of the next four nominees for the TIME Dealer of the Year Award all spent several years serving with the U.S. Marine Corps. In the next group of profiles, these store executives all share what’s important to them — in and out of the showroom. The awards program, which is produced in cooperation with […] [Read More]

A couple studies released late last week focused on the service side of the dealership, with one online survey showing customers may need a bit more incentive to visit in-dealership repair shops over independent stores. The AutoMD.com survey revealed that while consumers are generally satisfied with their dealership experience, they trust independent repair shops over […] [Read More]

EasyCare announced late last week the addition of another Motor Trend Certified dealership. The latest to officially join the program is Blue Springs Ford. The Kansas City, Mo.-area store is among the first group of dealers chosen for the pre-owned vehicle certification program, which was created for Motor Trend and powered by EasyCare. [Read More]

By invitation only, dealers were in attendance physically and virtually as Columbus Fair Auto Auction hosted its inaugural “Auction Everywhere” simulcast event on Tuesday. Held at the Pinnacle Golf Club in Columbus, Ohio, the independent, family-owned CFAA hosted more than 50 attendees and virtually presented 200 frontline ready vehicles in this first of what the […] [Read More]

NEW YORK — Fitch Ratings' latest index results indicated seasonal patterns drove losses on both U.S. prime and subprime auto loan ABS higher last month. Despite this trend, Fitch expects prime asset performance to remain strong in 2013. However, losses will normalize and increase off of record low rates recorded in 2012 throughout the course […] [Read More]

WASHINGTON, D.C. — Could a decision late last week by the U.S. Circuit Court of Appeals for the D.C. Circuit eventually nullify the moves by the Consumer Financial Protection Bureau since Richard Cordray became director? A former top legal counsel at the agency thinks that very well could be the case. The developments arose because […] [Read More]

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]