As all vehicle segments Black Book tracks dropped again last week, managing editor Ricky Beggs noticed only once in the past year has the company averaged more daily adjustments. In his latest online video post, “Beggs on the Used Car Market,” the Black Book veteran began by insisting last week was a very active market […] [Read More]

The National Remarketing Conference, which will be held Nov. 16–18, will both kick off on Nov. 16 and wrap up on Nov. 18 with a series of concurrent workshop sessions. This year’s sessions will focus on both the current state of the industry and where it is headed in 2012 and beyond. Conference attendees will […] [Read More]

Seen as critical contributors to more growth, AuctionPipeline’s president recently revealed the two newest auction veterans who will serve on the organization’s board of directors. Coming on to the board are Dave Angelicchio, of Pittsburgh Independent Auto Auction, and Henry Stanley, of Carolina Auto Auction. They replace Jeff Brasher, of Brasher’s Reno Auto Auction, and […] [Read More]

AUL Corp. and Universal Lenders partnered Monday to help dealers promote The ZERO Plan to buyers as part of service contract negotiations. Executives indicated the partnership can allow dealers to provide premium financing through The ZERO Plan to their customers who purchase an AUL Vehicle Service Contract. Universal Lenders reiterated The ZERO Plan is “not […] [Read More]

In an effort to streamline the online wholesale process for dealers, auctions, OEMs and financial institutions alike, Internet marketing solutions company Liquid Motors revealed Monday its new wholesale auction management software. “One Click” software, designed to simplify the process of placing inventory on online wholesale marketplaces, allows users full access integration to start, stop and […] [Read More]

Cadillac dealers in the Lone Star state are teaming with 19 celebrities to kick off a statewide competition this week that will raise awareness and support for six Texas charities. The Team Escalade Texas challenge will be comprised of six celebrity teams, each of which is paired with one of the charitable organizations. The contest […] [Read More]

ATLANTA — Navigator Holdings recently revealed the sale of nearly $40 million in subprime, asset-backed loans. Company president Bobby Lazenby explained the sale of the subprime automobile loan portfolio comes as an increasing number of investors look to build balance sheets with high yielding assets. Lazenby said: “I’m happy to say the subprime market has rebounded […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack will be offering a free Webinar tomorrow to discuss critical compliance issues dealerships face in today’s market. The Webinar, scheduled for 2 p.m. ET, will be hosted by DealerTrack compliance counsel Randy Henrick. The event — which is part one of a two-part series designed to educate dealers about the […] [Read More]

HOUSTON — Sparked by strong loan origination growth, First Investors Financial Services Group's 2012 fiscal year got off to a rousing start as the company posted its best-ever quarterly net income level. The company recently revealed its net income soared to $1,881,107 or 34 cents per fully-diluted share for the three months ended July 31. […] [Read More]

NEW YORK — Contrary to the composite reading, the auto loan portion of the S&P/Experian Consumer Credit Default Indices ticked higher last month. Data released Tuesday by S&P Indices and Experian showed vehicle loan defaults moved up to 1.31 percent in August from 1.27 percent in July. While the level increased slightly month-over-month, the August […] [Read More]