Manheim revealed this week it has completed its its planned purchase of Dealer Services Corp., which the company said  “reinforces its commitment to provide inventory financing to independent dealers.”  DSC, based in Carmel, Ind., is a used vehicle floor plan company for independent dealers that “complements Manheim’s current lending products provided through Manheim Financial Services,” […] [Read More]

The positive momentum being built in the auto industry doesn’t appear like it will end anytime soon, according to a recent study from Forbes Insight, which indicates the segment of the car business that will likely see particularly good fortunes is the luxury sector. And the luxury brands that are currently the kings of the […] [Read More]

Aimed at boosting stores’ marketing efficiency, ADP Dealer Services and its digital marketing group that runs Cobalt announced earlier this week they acquired Autotegrity from Link Ventures and Cogo Labs. Officials explained the deal is meant to be the nucleus of an expanding facility focused on the application of science to optimize the online shopping […] [Read More]

CarMax revealed this week  it has launched its first auto superstore in Chattanooga, Tenn. The store is more than than 36,000 sqare feet and employs more than 90 associates, officials shared. Moreover, the rooftop — located at 2211 Overnite Drive — stocks about 300 used vehicles, the company noted. [Read More]

Both Toyota and Lexus rolled out revamped Facebook pages this week, taking advantage of the social media website’s new page timeline feature. Toyota executives hope the new page timeline feature can give consumers unique insight into automaker’s U.S. history of product and people that spans back to 1957. They also think it can provide updates […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack revealed Thursday its local teams will be relocating to new Dallas office space. The company will be leasing approximately 59,152 square feet of new office space at Dallas’ Galleria 1 building, officials announced. And this new office will house 240 members of DealerTrack’s vehicle inventory management team. Bridget Townsend, vice president and general […] [Read More]

DETROIT — Chevrolet, Buick, GMC and Cadillac dealers, as well as U.S. retail customers within contiguous states comprising General Motors' Western marketing region now have another financing option thanks to a deal revealed late Thursday. GM and Wells Fargo & Co. created a long-term partnership where Wells Fargo will offer GM dealers a complete suite of […] [Read More]

IRVINE, Calif. — Dealer non-prime financing provider CarFinance Capital revealed earlier this week it secured a $200 million warehouse credit facility. CarFinance noted the new credit line, which is provided by Deutsche Bank and Credit Suisse, further enhances its ability to help dealers serve the growing ranks of non-prime consumers, who officials think now account […] [Read More]

CLINTON, Miss. — Wholesale market executives Cam Hitchcock, Chuck Tapp and Phil Hanks partnered with a New York-based private equity firm this week to acquire the assets of a forwarding and remarketing company. The trio is rebranding ASR Nationwide into Primeritus Financial Services and recapitalizing the company for growth. Hitchcock, Tapp and Hanks are looking […] [Read More]

As the 2012 Auto Remarketing Canada conference presented by CarProof is set to get underway next month, the event’s organizers announced new workshops and speakers this week in anticipation of Canada’s top used-car and remarketing event. Added to the lineup are two sessions for the Regulatory/Compliance/F&I track of the conference, both of which will shed […] [Read More]