Earlier this week, KAR Auction Services chief executive officer Jim Hallett projected how much longer Canada’s wholesale market will remain sluggish. After sharing his upbeat assessment of the U.S. future, Hallett said during the company’s quarterly conference call with investment analysts that, “in Canada, it’s a little bit of different story. “The Canadian market is […] [Read More]

In the aftermath of Hurricane Sandy, the physical damage caused by the storm to dealerships all along the East Coast is being assessed.  And in many cases, dealers are still waiting to have power and communication service restored.  But it is the disruptions that aren't visible to the naked eye that could have the biggest […] [Read More]

Without the support of our loyal sponsors and exhibitors, the Used Car Week conferences would not be possible, so Auto Remarketing Conferences would like to take a moment to express gratitude to all of the industry-leading companies that have supported this year’s events. Key to our success are our lead sponsors — SmartAuction, lead sponsor […] [Read More]

Leadership from the American International Automobile Dealers Association and the National Automobile Dealers Association said they were “deeply sorry to learn” and “saddened” about American Suzuki’s decision to leave the U.S. automobile market. ASMC outlined its strategy for Chapter 11 bankruptcy, saying warranties will be honored, and service will be provided without interruption through the […] [Read More]

Much like the prediction Black Book released last week, the National Automobile Dealers Association is also expecting used-car prices to spike in the wake of Hurricane Sandy after the supersorm destroyed thousands of vehicles. In fact, NADA is predicting that as a result of the storm, December prices of used vehicles up to 8 years […] [Read More]

Fueled by revenue jumps within all three of its major divisions, KAR Auction Services said late Tuesday that its third-quarter revenue moved 6 percent higher year-over-year, creating a 1-percent rise in adjusted EBITDA. The company determined its third-quarter revenue came in at $474.9 million, up from $449.1 million in the year-ago period.  As a result, […] [Read More]

With online auctions becoming more popular and alternative channels like dealer-to-dealer sales  gaining ground,   wholesale buyers and sellers now have many choices for conducting   business. With that in mind, many in the industry may be left wondering what the future holds for the wholesale market; what will be the roles for these new wholesale options […] [Read More]

CARMEL, Ind. — Dealer Services Corp. of Indiana achieved another significant milestone recently by floor planning its three millionth vehicle. DSC celebrated the historic occasion by paying off the vehicle for the purchaser, which was Mouse Auto Sales and presented owner Claude Ellzey of Osyka, Miss., with an additional check for upgrades to his dealerships. […] [Read More]

DETROIT and HAUPPAUGE, N.Y. — As well as GrooveCar, a provider of point-of-sale credit union auto lending, Ally Financial is rolling out deferred payment assistance to customers in areas affected by Superstorm Sandy. Ally said today that it will offer a 90-day payment deferral program on the purchase of all new GM and Chrysler 2012 […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute found total filings in the United States for October increased 16 percent compared to September. According to data provided by Epiq Systems, October bankruptcy filings totaled 101,278, up from the 87,522 filings registered in September. ABI determined the 96,498 total noncommercial filings for October represented a 16-percent increase […] [Read More]