Reaching within its nationwide network, ADESA on Tuesday announced the promotions of two longtime employees for the roles of executive vice president of U.S. auction operations. Named to the positions, which they will assume immediately, are Mike Caggiano and Pat Stevens. Both will continue to report directly to Tom Caruso, ADESA president and chief executive […] [Read More]

Multi-platform selling — perhaps a new buzz word in the industry? Liquid Motors thinks so, and the company announced Tuesday it is seeing “record growth” in use of its wholesale tools that utilize this system.  With marketplaces such as eBay Motors, Cars.com, AutoTrader.com and more, dealers  and others in the remarketing industry have many options […] [Read More]

Dealers and wholesalers who purchase vehicles through Ally Financial’s SmartAuction now have a new option for transport: ShipCarsNow. SmartAuction recently added ShipCarsNow as a transportation provider, connecting dealers with a vast vehicle delivery network directly from the auction site. ShipCarsNow, a Union Pacific subsidiary, can provide reliable and economical transport throughout the United States via […] [Read More]

As part of its ongoing campaign to integrate third-party dealer services with its software, Auto Manager Inc. on Tuesday announced it has reached a deal with a leading live chat provider. Auto Manager officials said the company will partner with Contact At Once, to offer chat to its WebManager Online Marketing clients, as AutoManager chief […] [Read More]

SCHAUMBURG, Ill. — As average loan terms for a new vehicle in the fourth quarter jumped to an all-time high, Experian Automotive also discovered the amount of financing for deep subprime buyers climbed significantly, too. Experian said the average new-vehicle contract moved to 65 months, up from 63 months in Q4 of 2011. Average terms […] [Read More]

GAINESVILLE, Ga. — According to a new report developed by Black Book and Fitch Ratings, vehicles are likely to depreciate at a greater degree this year, though not enough to present any major obstacles to U.S. auto loan and lease ABS. Black Book said today that vehicle depreciation rates averaged just below 13 percent in […] [Read More]

WASHINGTON, D.C. — As the agency's investigations within the auto lending space deepen, the ongoing clash about whether Richard Cordray will remain director of the Consumer Financial Protection Bureau will continue next week. The U.S. Senate Committee on Banking, Housing and Urban Affairs will conduct a hearing about Cordray's nomination on Tuesday. During the same […] [Read More]

LAKE SUCCESS, N.Y. — Dealertrack Technologies announced the next free webinar to help dealers and F&I managers remain compliant. The next session titled, "OFAC Checks, Risk-Based Pricing and Adverse Action Notices: Three Critical Tasks for Your Dealership," will take place on March 14 at 2 p.m. ET. This webinar will be hosted by Dealertrack compliance […] [Read More]

April is creeping closer, and Auto Remarketing Canada 2013 Conference organizers are ramping up the agenda full of industry experts and exciting content. The full agenda is now posted online and features workshops, sessions and panels that will focus on one of four key subject areas shaping the used-vehicle industry: retail, remarketing, regulatory/compliance/F&I and reputation […] [Read More]

The American Recovery Association enhanced its fifth annual North American Repossessors Summit by expanding to a three-day event to include a lender and recovery agent golf tournament, more networking opportunities and more speakers — all focused on the power of performance. Running from April 25—27, ARA is anticipating 600 professionals from the collateral recovery and […] [Read More]