When it comes to sourcing supply, the outlook for the certified pre-owned industry looks bright, says Toyota’s Brad Heagy. He told Auto Remarketing that he believes the industry is past the peak in used values and over the trough in used availability, and that trade-in supply may be on the verge of increasing. “I would […] [Read More]

Reynolds and Reynolds has announced the availability of integration between the Reynolds ERA and POWER dealership management systems and the Provider Exchange Network, or PEN, which it calls a “digital pipeline” connecting F&I product providers with the dealer management systems or other dealer point-of-sale systems. Available as of this month, Reynolds said integration with PEN […] [Read More]

Utilizing Manheim’s online auction technology, Jaguar Land Rover North America revealed it experienced its “most successful” Simulcast Everywhere sale yet. Jaguar Land Rover North America — the first luxury automotive manufacturer to use Manheim’s Simulcast Everywhere technology —  shared that on the July 24 sale,  the company sold 100 percent of Land Rover and 88 […] [Read More]

The continuing education program designed to train the next generation of auction industry professionals now has an exclusive new sponsor, one who has signed a multi-year agreement. Announcing its sponsorship of the Auction Academy is Dealer Services Corp. of Indiana, which has signed on as exclusive Floorplan Finance Industry Segment Sponsor. Auction Academy, which was […] [Read More]

NASHVILLE, Tenn., and EL DORADO HILLS, Calif. — Primeritus Financial Services recently announced several top management promotions at its California location and one promotion at its Tennessee office.  Among the promoted members of the El Dorado Hills, Calif., office are: —John Fountaine, vice president and general manager —Chris Oskiera, VP of USA Recovery —Bill Sheehan, […] [Read More]

SCHAUMBURG, Ill. — Lenders awarding new-vehicle contracts to customers in the nonprime, subprime and deep-subprime risk tiers grew by double digits year-over-year during the second quarter. Experian Automotive determined 25.41 percent of all new-vehicle loans went to customers in the nonprime, subprime and deep subprime risk tiers as loans to credit-challenged customers climbed 14 percent […] [Read More]

CINCINNATI — Swapalease.com might have found more evidence of improving credit for consumers. Since the end of May, site officials discovered US Bank customer approvals for taking over a contract on Swapalease.com climbed to an average of 73.7 percent, compared with 55.5 percent at the same time last year. The site emphasized consumer credit is […] [Read More]

RIVERDALE, Ga. — Automobile Acceptance Corp., which has provided indirect lending to prime and subprime buyers in Georgia since 1989, recently added five branches, including two buy-here, pay-here dealerships, two franchised stores and one service center. Combined with its existing 26 branches, AAC now has 31 operations, an amount chief executive officer Robert Culver attributes […] [Read More]

Used-vehicle sales improved 1.5 percent year-over-year in August, according to CNW Research, which said today there were 3.87 million used units sold during the month. Franchised dealers, in particular,  increased their used sales 3.3 percent, as they moved 1.48 million units. And early indications are that certified pre-owned sales fared well for many of these franchised […] [Read More]

A transferable auto warranty designed to protect dealer inventory was recently announced by ABS Auto Auctions. The company launched its new Buyer Shield Limited Powertrain Warranty in early August, when the company began offering the warranty as standard equipment on most vehicles sold through its auctions. ABS said Buyer Shield offers 90-day, 500-mile limited powertrain […] [Read More]