IRVINE, Calif. — Consumer Portfolio Services announced earlier this week the closing of its third term securitization of the year. The transaction also is CPS' sixth senior subordinate securitization since last year. In the transaction, officials tabulated that qualified institutional buyers purchased $147 million of asset-backed notes secured by automobile receivables purchased by CPS. The […] [Read More]

CHARLOTTE, N.C. — Though many say the potential for using social media for sales has not been tapped into yet, social media application company xChange Automotive said it has released a product that may take a step in that direction. The company launched this week two call-to-action transaction apps for Facebook. xChange Automotive contends that […] [Read More]

New-car dealers enjoyed double-digit year-over-year retail sales growth in the first quarter, and dealers in the used-car, recreational motor vehicle and parts subsectors climbed an average of 7.6 percent, according to Statistics Canada information cited by DesRosiers Automotive Consultants. However, that momentum wasn't nearly as strong in the following months. [Read More]

August was a month of modest wholesale price growth in Canada, according to analysis on the latest ADESA Canada Used Vehicle Price Index. Specifically, ADESA’s data — powered by ALG Canada — indicates that the index climbed “moderately” on a month-over-month basis following seasonal adjustments, and there was approximately a 0.3-percent sequential rise in wholesale […] [Read More]

If the latest Automotive Analyst Note from J.D. Power and Associates’ Canadian Automotive Practice is any indication, the Canadian new-vehicle market could steal some traction from the used-car side in the next year. The firm indicated that for shoppers planning on buying within 12 months, just over 60 percent intend to purchase new. This is […] [Read More]

Is it possible the rise in gas prices is finally beginning to affect wholesale prices in the lanes? It seems the shift may have started, as NADA Used Car Guide predicts the large SUV segment will  see the biggest declines over the course of the current week. Prices in this segment are expected to drop […] [Read More]

A regulatory filing with the Securities and Exchange Commission confirmed that DriveTime Automotive Group its shareholders and certain affiliates entered into definitive agreements with Santander Consumer USA. Officials from the group that mainly caters to subprime buyers explained that DT Acceptance Corp. and its subsidiary, DT Credit Co., will sell its finance receivable portfolio, which […] [Read More]

Many consumers are coming into the dealership with more equity in their trade-ins these days, and that will likely convert pent-up demand into actual sales, says NADA Used Car Guide executive automotive analyst Jonathan Banks. Several used models are seeing stronger trade-in equity because of the drop in used supply, solid demand and a boost […] [Read More]

Vehicle remarketers have a new tool to help them manage inventory through digital and in-lane selling venues. Manheim this week announced an expansion of its partnership with AutoIMS to include its new product, the AutoIMS Hub. This integrated technological solution, now available to OVE.com customers, could make juggling bids and sales between multiple auction platforms […] [Read More]

Though many say the potential for using social media for sales has not been tapped into yet, social media application company xChange Automotive said it has released a product that may take a step in that direction. The company launched this week two call-to-action transaction apps for Facebook. xChange Automotive contends that these transaction-based social […] [Read More]