PHOENIX — DriveTime Automotive Group sent notice to the U.S. Securities and Exchange Commission last week stating it terminated its definitive selling agreements with Santander Consumer USA. Officials indicated they made the decision about the selling agreement first reached on Sept. 11 "due to certain unsatisfied conditions to the closings of the transactions contemplated." The […] [Read More]

BREA, Calif. — American Suzuki Motor Corp. announced last week that it received bankruptcy court approval of its agreement with Ally Financial and certain affiliates including American Suzuki Financial Services Co. The decision means support for Ally's provision of dealer floor plan financing and retail financing programs, including 0 percent for qualified buyers of Suzuki […] [Read More]

FORT WORTH, Texas, and SAN JOSE, Calif. — eBay Motors highlighted that it is now providing financing options for shoppers through online auto lender RoadLoans. Officials explained the new offering — pairing eBay Motors' online inventory and RoadLoan's online financing capabilities — is meant to provide vehicle buyers with greater flexibility and options when purchasing […] [Read More]

SEATTLE and EVERETT, Wash. — Litigation and settlements associated with what legal experts have warned dealers about — compliance in connection with advertising — were back at the forefront again last week; this time in the Pacific Northwest. A potential scenario discussed in a special issue from sister publication Auto Remarketing focused on advertising coming […] [Read More]

This year’s class of Women in Remarketing honorees were spotlighted Thursday afternoon at Used Car Week, but these leaders of the used-car business did more than just receive awards. They doled out advice, talked about career experiences, lessons learned and much more as they reflected on life and years in the remarketing business as part […] [Read More]

One way to view the car business, as Hare Chevrolet dealer principal Courtney Cole put it, is to look at it as “riches and niches.” And the used-car business is full of those “niches” of business opportunity for dealers, particularly as credit availability opens up. “As long as you get creative enough,” she said, “there […] [Read More]

As 2013 nears closer and closer, dealers and others in the industry look back on the trials and triumphs of 2012. From tight used inventory to the recent Hurricane Sandy, dealers have been presented with some tough situations this year. But as 2012 comes to a close, many industry experts gave Auto Remarketing some promising […] [Read More]

Though there is no questioning the devastating impact Superstorm Sandy had up and down the East Coast, industry experts are saying the effect on the national new- and used-car markets may be more “modest than what's currently being reported.” Kelly Blue Book and AutoTrader.com stressed that although current estimates state between 200,000 and 300,000 new […] [Read More]

Continuing its commitment to build solutions that drive business results for customers, Manheim expanded its product development leadership team with four new members. Ensuring the right products are delivered to the right people at the right time, Manheim said the new additions to the team have solid expertise in product development, strategy, deployment and portfolio […] [Read More]

Insurance Auto Auctions rolled out two new locations in Texas, increasing its footprint to a total of 12 locations in the Lone Star State. The new operations are in McAllen and Lubbock, sites the company said are critical to IAA’s continued expansion in giving providers more locations to sell their vehicles and global buyers more […] [Read More]