During a long discussion about the company’s 2011 financial performance and more, KAR Auction Services chief executive officer Jim Hallett projected specific future wholesale volume numbers after saying 2012 is a “trough year.” Hallett told a conference call filled with investment analysts Tuesday that “the steepest volume declines are behind us.   [Read More]

As the market evolves, Manheim is also making some changes to better meet its customers’ needs. The company confirmed to Auto Remarketing Tuesday that several of its auctions have new general managers. Discussing the changes, Mike McKinney, Manheim regional vice president, West, told Auto Remarketing, “We are extremely fortunate to have such great talent and […] [Read More]

Touting the widespread gains in used-vehicle reliability, Consumer Reports has come out in its latest Annual Auto issue with a message that will likely be welcome news to the used-car business. The publication is saying that buying a used car is becoming “less risky,” and backs that up with its findings that nearly every carmaker […] [Read More]

Black Book’s Ricky Beggs admitted the mixed news headlines are giving dealers an unclear outlook as they head to the wholesale lanes to find inventory. Beggs pointed out there were some upbeat expectations on new-vehicle sales levels for February, as even a couple of forecasters bumped up their annual projections slightly after only two months. […] [Read More]

After returning to auto business just a couple months ago, former General Motors and Chrysler executive Tom LaSorda has landed a new role heading up day-to-day activities for Fisker Automotive, where he has been working since December. In a re-organization announced Tuesday, it was revealed that company co-founder Henrik Fisker will step into a role […] [Read More]

Online wholesale vehicle marketplace OVE.com recently revealed that as it gained more independent auction partners over the past year, dealer sales rose by more than 100 percent, as well. And 2012 is also off to a strong start, according to officials. In 2011, independent auction partners grew their sales by nearly 25 percent on the site, while […] [Read More]

Dealers and buyers searching through the lanes of Bel Air Auto Auction’s Speciality Sale division will soon be looking forward to a new level of “comfort and convenience,” according to officials. BSCAmerica is set to open its new Clayton Station building later this Spring. Just what does this new building entail? [Read More]

SCHAUMBURG, Ill. — When Experian Automotive tallied up the top 20 lenders for its quarterly analysis of the automotive finance market, one company posted year-over-year gains higher than most of the other ones mentioned altogether. TD Auto Finance broke into the top 10 of all lenders during the fourth quarter thanks to a 230-percent year-over-year […] [Read More]

CHICAGO — TransUnion determined this week the national auto delinquency rate — the rate of borrowers 60 or more days past due — decreased on a year-over-year basis for the ninth consecutive quarter. Analysts indicated delinquencies dropped from 0.59 percent in the last quarter of 2010 to 0.46 percent to finish 2011. On a quarter-over-quarter basis, TransUnion […] [Read More]

MATTHEWS, N.C. — Subprime lending company Ace Motor Acceptance is working to “recognize the needs of the dealer,” as well as ramping up its offerings for the buy-here, pay-here market. The company, founded in 1998, made the transition into the BHPH market through the creation of its BHPH in A Box program in 2009, Wayne […] [Read More]