ADESA has named a new vice president of U.S. dealer sales, chosen from within the company. Selected by ADESA for the role was Tom Haeberer, who has served as the company’s executive sales director since 2007. The move was effective immediately. As vice president of U.S. dealer sales, Haeberer will report directly to Jeff Bescher, […] [Read More]

The National Automobile Dealers Association highlighted that Congressional legislation signed into law late last week to prevent a government shutdown includes an extension of a federal overtime exemption for service advisers through March. NADA officials recapped that since the late 1970s, the U.S. Department of Labor has held that the frontline employee-salespersons in the service […] [Read More]

Just a couple days after reporting how successful its 2012 fiscal year was, Copart late last week announced the opening of its new 17-acre facility in Webster, N.H. This latest addition to Copart’s footprint represents the company’s first facility in the state of New Hampshire and the 157th facility worldwide. Company officials indicated this facility […] [Read More]

A recent survey by Ally Financial showed dealers continued to be a "pillar of strength" in their communities, particularly when it comes to charitable giving. Survey data indicated that nearly two-thirds of U.S. dealers increased their charitable contributions this year compared to last year. In addition, officials highlighted that more than half of those who […] [Read More]

SACRAMENTO, Calif. — California buy-here, pay-here dealers will have more compliance procedures to maintain when Jan. 1 arrives, since two of the three bills aimed at changing how the industry operates were signed by Gov. Jerry Brown. But the measure Brown vetoed — a policy that would have created a hard interest-rate cap — is […] [Read More]

ATLANTA — According to Equifax's latest monthly National Consumer Credit Trends Report, automotive credit balances and new accounts are increasing steadily with the number of new accounts opened in the first half approaching pre-recession levels. Analysts believe auto lending is gaining strength, reflecting increasing demand for new vehicles. Year-to-date through June, Equifax tallied that total […] [Read More]

NAPERVILLE, Ill. — Potential used-car buyers can now get a little help with their down payment, thanks to a new program announced recently by social-savings website Motozuma. By setting up a free Motozuma account to save for a down payment, prospective buyers can receive a dollar-for-dollar match of up to $200 on any used vehicle […] [Read More]

WASHINGTON, D.C. — The American Financial Services Association recently announced two experienced, well-known executives were elected to join its board of directors. The new board members are Mark Floyd, vice chairman and chief executive officer of Exeter Finance Corp.; and David Paul, vice president of financial services at American Honda Finance Corp.  Floyd is a […] [Read More]

Windsor Remarketing officially has a new name. After its president, Scott France, acquired the company from the Windsor Group, the firm is now known as Caprock Auto Remarketing. Officials explained that the day-to-day team is intact, “so nothing has truly changed but the name.” Caprock aims to help auto lenders, banks, credit unions, dealer groups […] [Read More]

September draws to a close this weekend, ending what appears to have been a rather solid month for used-vehicle sales, according to Edmunds.com. The company is anticipating 3.13 million used sales for the month, which would be relatively static compared to the 3.14 million used sales in August. Compared to September 2011, it would be […] [Read More]