Just before the holidays, Dealers Auto Auction of the Southwest rolled out 360 Service, an exclusive customer service program than can help dealers manage their auction consignment more effectively. Auction vice president Jim DesRochers explained how it works. [Read More]

NCM Associates hired four new associates to serve its retail automotive clientele, including the franchised and buy-here, pay-here dealer segments. Joining the company as executive conference moderators for the 20 Groups division under Kevin Cunningham are Paul Kechnie, Joe Basil and Gene Daughtry. The company said Steve Hall has joined the faculty of the NCM […] [Read More]

NEW YORK — Now that the U.S. doesn't appear to be going over the fiscal cliff because of measures taken by federal lawmakers this week, the projections made by Fitch Ratings about this year's auto ABS asset and ratings performance appear to be on surer footing. Analysts made their upbeat 2013 auto ABS forecast because […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 BANDON, Ore. — Subprime auto loan approvals jumped by at least 40 percent during each of the last four months of 2012, according to data produced by CNW Research. December's year-over-year climb came in at 43.2 percent. In November, the jump in subprime loan approvals was […] [Read More]

SOUTHFIELD, Mich. and CLEARWATER, Fla. — Credit Acceptance Corp. and Nicholas Financial each modified credit arrangements to wrap up 2012 financial activities. At Credit Acceptance, the company extended the date on which its $325.0 million revolving secured warehouse facility will cease to revolve. The date moved from June 17, 2014 to Dec. 27, 2015. Officials […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 SACRAMENTO, Calif. — Buy-here, pay-here dealers in California began 2013 with more state regulations. But reflecting back on what the potential rules might have been, the National Independent Automobile Dealers Association explained how they could have been much more cumbersome. To recap, one new law forces […] [Read More]

When 2012 full-year used-vehicle sales are tallied, the sum is expected to be a five-year high, according to CNW Research. The firm’s Retail Automotive Summary released Friday afternoon said the industry’s final used sales count will likely reach 40.53 million units, which would be a 4.5-percent year-over-year hike. What’s more, this would be the best […] [Read More]

As we approach the holidays, it seems used-car shoppers may have been more focused on Christmas gifts than vehicle shopping. Edmunds.com is estimating December’s used-car sales will amount to 2.71 million, for a seasonally adjusted annualized rate of 29.6 million. This is compared to 2.77 million, or a SAAR of 38.7 million, used-car sales in […] [Read More]

Auto Remarketing and Cherokee Automotive Group would like to wish all our readers a healthy holiday season and a happy New Year.   This issue of Auto Remarketing Today will be the final edition of 2012 before we take a holiday break. Thank you for your interest and support this year, and we look forward […] [Read More]

Pick a financial statement metric — net sales and operating revenues, net earnings, used unit sales, finance arm income — and CarMax posted a double-digit jump year-over-year during the third quarter of its current fiscal year. The company said Thursday that its third-quarter net earnings grew 15 percent to $94.7 million or $0.41 per diluted […] [Read More]