A newly-launched Manheim product offering advanced mobile bid and buy options is already earning kudos in the technological world. Manheim this week announced its win of the Product Launch of the Year award for its new product Simulcast on Mobile, from the Technology Association of Georgia Product Management Society. Simulcast on Mobile allows dealers to […] [Read More]

CHARLOTTE, N.C. — It was a busy year in the F&I office at Sonic Automotive dealerships, as the retailer increased revenue in the finance, insurance and other category by nearly 20 percent in 2012. Sonic closed the year by pushing up F&I revenue 18.4 percent year-over-year in the fourth quarter, pulling in $64.69 million. For […] [Read More]

Chase Auto Finance appointed a new chief executive officer today, succeeding Marc Sheinbaum who has asked to pursue other opportunities. Moving into the role is Thasunda Brown Duckett who previously was part of Chase's consumer and community banking division. Duckett also served as national retail sales executive for Chase's Mortgage Banking division. [Read More]

Although down from last month's rate, February's seasonally adjusted annualized rate for used-vehicle sales is expected to stay above the 37 million mark, according to Edmunds.com, which put out a forecast for monthly new- and used-car sales late last week. Specifically, Edmunds anticipates there will be 3.35 million used sales this month, versus 3.12 million […] [Read More]

Help us honor the top women leaders in the industry! Now in its fifth year, Auto Remarketing is continuing this tradition of recognizing excellence by now opening the nominations for its 2013 Women in Remarketing Class. [Read More]

NextGear Capital recently closed a $1.55 billion securitized bank facility. Led by the Bank of Tokyo-Mitsubishi, the company highlighted the two-year securitized facility provides flexibility and tremendous lending capacity through a large six bank syndicate. Executives noted the new bank facility complements the existing privately placed AAA-rated term bond financing that NextGear Capital has in […] [Read More]

ShipCarsNow named a new president who will take on the role effective March 4. Tapped for the position at Union Pacific Railroad’s subsidiary is Marty Coalson, who will succeed Roland Fortner who will be taking a new position within Union Pacific’s marketing and sales group.  Coalson has been with Union Pacific for 34 years, most […] [Read More]

Last week I mentioned dealers who expressed less optimism than their peers about a strong used-vehicle market this coming spring. These dealers were saying things like: “I’m taking every used vehicle deal I can. I’m not holding out for gross because I believe the supply will be there to replace it. I’m trying to get […] [Read More]

Last week, the Westlake Financial Services Remarketing Department named its top auctions for 2012, with four locations taking home the honors. The honorees are as follows: Rawls Auto Auction (Leesville, S.C.) was named the Eastern Region Auction of the Year; Kansas City Independent Auto Auction (Kansas City, Mo.) takes top honors for the Midwest, and […] [Read More]

Auction Academy, which saw industry participation that exceeded first-year expectations, will start its second year off with a new president. Pierre Pons, president and chief executive officer of TPC Management Co., which developed Auction Academy, announced that Richard Curtis will serve as president of the professional education program for the auto auction industry. “The independent […] [Read More]