World Omni Financial Corp. revealed Wednesday it has named a new president. Tapped for the position is Dan Chait, who joined World Omni in 2002 after holding senior-level positions at US Airways, AutoNation and UniCaptial Corp. Chait, who most recently served as senior vice president at World Omni, will be replacing Frank Armstrong, who has […] [Read More]

Manheim’s Tom Webb said Wednesday that October wholesale values ticked either higher or lower depending on if the comparison was based on a seasonal adjustment. Webb indicated last month’s wholesale prices on a mix-, mileage-, and seasonally adjusted basis rose by 1 percent. Without that seasonal adjustment, the Manheim economist said prices fell by more […] [Read More]

For Ed Rykulski, fostering the certified pre-owned culture begins with putting as many vehicles as possible through the certification process. “First of all, we feel the most important thing is to certify every vehicle that you possibly can,” said Rykulski, the used-car manager at Al Serra Auto Plaza in Grand Blanc, Mich. “Second of all, […] [Read More]

Women are now the fastest growing segment of new- and used-car buyers. Typically, however, women car buyers don’t lease nearly as much as men.    The consensus among dealers is that women buy new and used cars, but they infrequently consider leasing. When considering “Should I buy or lease?” many women are fueled by the […] [Read More]

Black Book has a new vice president of automotive licensing. Promoted to the position was Jared Kalfus, who will continue his responsibility for leading Black Book’s efforts to increase data licensing revenue to OEMs, dealers and value-added resellers who serve the dealer community, the company said Wednesday. Kalfus’ most recent position was Black Book’s director […] [Read More]

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]