ADESA revealed that its 70 auction locations throughout the U.S., Canada and Mexico will participate in National Auto Auction Week, an event which aims to “celebrate the industry’s seven decades of entrepreneurship.” The week designated by the National Auto Auction Association, Aug. 22–26, will include events and activities that not only celebrate the staying power […] [Read More]

Just as auctions now are talking about consolidations, a longtime Michigan dealer is doing the same thing with his Lincoln, Volvo and Mazda franchises. In business since 1946 servicing the Ypsilanti, Ann Arbor and surrounding communities, Sesi Motors stated this week it plans to consolidate its current Ypsilanti dealership where it sells Lincoln and Mazda […] [Read More]

In a conference call Wednesday to discuss second quarter performance, KAR Auction Services’ chief executive officer Jim Hallett probably spent more time outlining the company’s immediate future — especially at ADESA. In breaking down the expectations of KAR’s major segments, Hallett shared upbeat projections for Insurance Auto Auctions and Automotive Finance Corp. But for ADESA, […] [Read More]

In the first half of the year, Findlay Honda sold more certified pre-owned Hondas than it did in the entirety of 2010, and the store’s  year-to-date CPO sales through July more than doubled the sum from the first seven months last year, according to used car manager Chuck Loubert. The Las Vegas dealership, apparently, is […] [Read More]

Chrysler Group announced yesterday a new addition to its “Summer Clearance Event," highlighting a “No Payments for 90 Days” promotion on all 2011 and 2012 Chrysler, Jeep, Dodge and Ram Truck models financed through Ally Financial. The deferred retail payment program starts now and will continue through the company’s “Summer Clearance Event,” which ends Sept. […] [Read More]

Used-truck values were initially expected to climb 6 percent in the upcoming quarter, but that surge may end up being even higher, according to NADA Used Car Guide automotive analyst Jonathan Banks. How? The current gas-price dynamic, he indicated. “Looking ahead, we anticipate that light truck values will do well during the upcoming quarter primarily […] [Read More]

It was recently announced that the AuctionACCESS dealer registration system from AutoTec has now expanded its reach to five new locations, including businesses in Nevada, Texas and Tennessee. New participating members include Airport Auto Auction, in Alcoa, Tenn.; ADESA Las Vegas, in North Las Vegas, Nev.; Dealer’s Auto Auction of Huntsville, in Athens, Ala.; America’s […] [Read More]

The board of directors at Group 1 Automotive has given the green light for up to a $25 million repurchase of the retailer’s common stock. Group 1 plans to use cash from operations to pay for the repurchase. There were 23.6 million shares of outstanding common stock as of June 30. The company will hold […] [Read More]

The International Automotive Remarketers Alliance welcomed another member this week. Joining IARA is Central Auto Auction, located in Hamden, Conn. “I’m anticipating a strong synergy between Central Auto Auction and the IARA,” said Central AA president Peter Saldamarco. “Central will benefit substantially by participating in the outstanding training and certification programs offered by the IARA, […] [Read More]

IRVING, Texas — With growth coming especially in upper-credit brackets and even a minor increase in non-prime approvals, executives from myAutoloan.com revealed this week they have seen moderate strengthening during the first half of 2011. The site also is forecasting continued moderate growth through the remainder of the year. Although a strong increase in application […] [Read More]