Manheim chief economist Tom Webb projected repossession volumes will climb next year while also explaining why that growth will be tempered. Webb estimated a “relatively small increase” in repossession volume for 2013, “say in the neighborhood of 75,000 units or so. “To be sure, the number of contracts outstanding has risen,” Webb continued. “There has […] [Read More]

In honor of Breast Cancer Awareness Month, a Pennsylvania dealership group has gone pink, splashing vast pink ribbons across all eight of their buildings.   Smail Auto Group says the pink ribbons are making more than a visual statement: The auto group is also donating $100 for every new and used vehicle sold at Smail dealerships […] [Read More]

The latest trend data prepared by the National Auto Auction Association showed how much September volume went up while prices softened in the wholesale market. NAAA information indicated last month’s volume ticked up by 0.6 percent compared to September of last year. However, economist Ira Silver pointed out that year-to-date, auction volume is off by […] [Read More]

Because so many new midsize cars are being introduced for 2013, Black Book discovered the development is placing larger-than-normal downward pricing pressure on late-model used models in the segment. Managing editor Ricky Beggs noted that wholesale price averages for these units have dropped an average of 1.0 percent each week during the past few months. […] [Read More]

Among approximately 2,200 vehicles that Black Book editors adjusted on average each day last week, Ricky Beggs shared that it was modifying wholesale prices of average- and clean-condition models that caused the most noteworthy movements. Beggs mentioned that 36 percent of the average-condition changes resulted in an upward price adjustment while 33 percent of clean-condition […] [Read More]

Automakers have pulled back significantly on new-vehicle incentives in the last three years, and this has subsequently led to a nice lift in prices on the used-car side, says NADA Used Car Guide senior analyst Jonathan Banks in the latest entry to his Used Car & Truck Blog. Citing numbers from Autodata Corp., Banks noted […] [Read More]

Both Chase and Wells Fargo enjoyed positive developments in connection with their third-quarter auto loan origination volume performances. Starting with Chase, the company indicated its Q3 originations totaled $6.3 billion, a figure 7-percent higher year-over-year and 9-percent higher quarter-over-quarter. The growth left Chase's average auto loan amount as of the third quarter at $48.4 billion, […] [Read More]

Dealers have customers who are in-market for a new vehicle every month, says CAR-Research XRM, and it has launched a new product to help find them for dealers. On Monday, the company announced the release of its trademarked CAR-DealFinder tool on Monday, an Internet shopping monitoring program for auto dealers. The new tool is designed […] [Read More]

Due in part to continuing low demand, especially in Europe — one of its biggest markets — Volvo is halting production for a week this month, the OEM revealed Monday. The company said in a statement it will halt production from Oct. 29 to Nov. 2 at its Torslanda plant in western Sweden, reducing output […] [Read More]

Ford's Vehicle Remarketing Department recently spotlighted 12 auctions for their exceptional performance as Automotive Remarketing Services Partners. Receiving honors at the recent National Auto Auction Association conference, the following auctions were named ARS Partner Recognition Award Winners: Manheim Pennsylvania Manheim Mississippi Brasher’s Salt Lake Auto Auction ADESA Indianapolis Manheim New York Manheim Chicago Manheim Detroit […] [Read More]