While also predicting repossessions should trend upward again, Manheim chief economist Tom Webb explained why lenders didn’t sustain as much of a loss when a loan contract went south during the past two years. Webb stated that “in those cases in which repossessions did occur in 2010 and 2011, lenders experienced a significant reduction in […] [Read More]

After dealing with the unexpected snowfall in North Carolina, dealers and buyers alike had another storm to weather Monday morning — navigating the tough wholesale environment, ridden with unit scarcity and skyrocketing prices.  At the Manheim North Carolina sale, the overall attitude was one of grim determination. Buyers and dealers alike are taking hits right […] [Read More]

It appears that the used-car market this month is getting a nice bump from 2012 being a leap year. Otherwise, CNW Research suggested February’s used sales would have been rather static this month. Specifically, CNW is forecasting 1.95 million used sales for the month, an 8.1-percent hike from February 2011 on an unadjusted basis. “Adjusted, […] [Read More]

General Motors recently doled out its 2011 GM Auction of the Year award, and receiving this year’s honor was ADESA Kansas City. The auction was chosen from 35 GM-sponsored auctions throughout the U.S. based on its “achievement in providing GM and its dealers with outstanding quality, service and value throughout the year.” [Read More]

Instead of A Tale of Two Cities, Ricky Beggs and the Black Book team spotted “a tale of two markets,” when analyzing the current wholesale market, especially when it comes to the trends for average and clean vehicles. In his most recent edition of “Beggs on the Used Car Market,” the Black Book managing editor […] [Read More]

Because international vehicle shipping has become quite popular during the past decade, JMN Logistics expanded its transportation services on Monday to include international shipping. When chief operating officer Cindy Darnell learned the company could make international shipping easier and less complicated for customers, she insisted that it became a top priority to gain partnership with […] [Read More]

While some automakers kicked off advertising campaigns employing the help of comedians turned TV stars, 1980s rock legends and a cinematic icon known for his cowboy-like grittiness, Mazda has taken a different route. It is turning to Dr. Seuss. Mazda North American Operations has struck a deal with “Dr. Seuss’ The Lorax," which is the […] [Read More]

GE Capital Fleet Services recently announced its customer cost savings for the full year of 2011. The total amount of identified savings was  $347 million, with optimal vehicle cycling for fleets yielding the highest cost savings of more than $124 million for the year, officials revealed. [Read More]

In the spirit of Tuesday’s annual Mardi Gras celebrations in New Orleans, Indiana Auto Auction is hosting its inaugural “Fat Thursday” sale this week that will feature cash and prize giveaways, plus a free breakfast to go along with the 700-plus-vehicle consignment on tap. [Read More]

Now in its fourth year of honoring top women leaders in the industry, Auto Remarketing is continuing this tradition of recognizing excellence by now opening the nominations for its 2012 Women in Remarketing Class. Auto Remarketing’s April 15 edition will be dedicated to honoring women’s contributions to the used-car, remarketing, auction and auto finance industry. No […] [Read More]