Consolidated Asset Recovery Systems is offering another free Webinar to highlight its new open-source, freeware version of its IBEAM Web portal for the agent and lender communities. CARS management will host an hour-long session beginning at 3 p.m. ET on Wednesday. The company explained this new version of IBEAM will be specific to repossession and […] [Read More]

Repo Remarketing aims to be a full-service operation, so about nine months ago it began to create a division geared to complete its offering portfolio for lenders. The resulting product is sister company Find Track Locate, a nationwide skip-tracing partner to credit unions and financial institutions. “We really noticed that there was a gap as […] [Read More]

Mojo Motors — a website that aims to connect dealerships with qualified local buyers who are ready to make a purchase — recently landed $3 million in funding to fuel expansion beyond its test markets in the Northeast. The site also plans to use the funds to scale marketing efforts and further develop the platform. […] [Read More]

In a continued effort to push the importance of both dealers and consumers fixing vehicles included in recalls, Carfax designated today as Carfax Open Recall Day. The campaign follows last month’s release of a Carfax study that found more than 2.7 million used vehicles for sale online in 2011 with safety recalls that were never […] [Read More]

Of the nearly 200 stores Honda Financial Services and Acura Financial Services recently honored as its 2011 Council of Excellence award winners, only six dealerships have received this accolade for 10 years in a row. That group includes four Honda stores and a pair of Acura rooftops: —Dobbs Honda on Covington Pike, Memphis, Tenn. —Honda […] [Read More]

A new report shows that older buyers are leading the way in auto industry recovery, with dealership experience the key factor in purchasing vehicles. Automotive research firm Foresight Research has released its 2012 Dealership Experience Strategy Report, noting a need for dealerships to refocus marketing to more seasoned buyers, who more often choose a dealership […] [Read More]

KAR Auction Services kicked off the year by notching nearly a 5-percent uptick in revenue during the first quarter and increasing its adjusted EBITDA by approximately 6 percent, the company said late Monday afternoon. KAR pulled in adjusted EBITDA of $134.9 million in the first quarter that ended March 31, compared to $127.3 million in […] [Read More]

As the Manheim Used Vehicle Value Index edged slightly lower in April, economist Tom Webb cautioned wholesale observers and dealers to watch that some individual segment movements are “misleading.” Supporting Webb’s point was the 0.8-percent softening of compact car prices last month. Meanwhile, Manheim discovered pickup prices rose 3.2 percent. “Unusual year-ago environment makes some […] [Read More]

As a result of an alleged attempt to scam $1.5 million out of a credit union, one used-car dealer received a prison sentence on Monday.  Jady Brooks was sentenced in federal court to serve seven years in prison after “running a sophisticated scheme to defraud a credit union,” reported Tim McGlone of The Virginian-Pilot. But […] [Read More]

A fuse issue is prompting Chrysler Group to conduct a voluntary safety recall of 2011 and 2012 Dodge Charger and Chrysler 300 sedans. The automaker indicated the recall covers approximately 119,072 vehicles in the U.S. as well as another 8,274 units in Canada. Chrysler explained a plastic insert surrounding a fuse may be subject to […] [Read More]