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]

Dealer consignment was “huge” this week at Brasher’s Sacramento Auto Auction, said John Brasher in his post-sale report from Tuesday. Brasher noted that all segments of the market made strong showings at the sale, including trades and lease returns. He pointed particularly to SAA’s Ford sale as “very strong,” and to a positive rental promotion […] [Read More]

Provider Exchange Network, a division of Open Dealer Exchange, announced Wednesday that it has agreed to integrate with the OptionSoft Technologies F&I Menu. Officials believe this integration will allow OptionSoft to better serve its thousands of dealers via PEN’s streamlined electronic rating, forms and contract booking connection. The company reiterated that PEN is designed to […] [Read More]

Auction volume in the first half of 2012 was roughly even from the same period of 2011, according to the National Auto Auction Association, which said all but one of the nation’s five regions saw an increase. NAAA also forecasts that 2013 will show a “noticeable overall gain” in auction volume, thanks in part to […] [Read More]

The used vehicles that customers search for online may not be the ones they end up buying — that’s the initial indication of data compiled by vehicle shopping site Mojo Motors. The company spoke exclusively to Auto Remarketing on Tuesday, noting that a preliminary study of its search and purchase data reveals discrepancies in used-car […] [Read More]

A couple weeks ago, used-vehicle manager Betty Ballantyne started thinking about the “wheel of fortune” at Irwin Automotive Group’s Ford and Toyota stores in Laconia, N.H. Ballantyne says, “We sold four trades against what could have been a mini new vehicle deal. It was unusual that we had that many. It triggered a thought — […] [Read More]

ADESA Buffalo marked its 20th anniversary earlier this week with a fun-filled Customer Appreciation Sale. Auction management highlighted that dealers were welcomed to the event with a hot breakfast buffet and a “swag” bag filled with gifts. The day continued with a number of entertaining games and contests. Customers showed off their passing skills for […] [Read More]