Franchise dealers enjoyed their strongest April for used-car sales in five years, according to CNW Research. Meanwhile, independent dealers saw an increase greater than 17 percent on a year-over-year basis. Specifically, franchise dealers moved 1.32 million used vehicles, which is 10.7-percent stronger than April 2010 figures, CNW’s Art Spinella reported. As for  independent dealers, their used sales reached 1.33 million units, […] [Read More]

Though small in stature, the Mini brand appeared to be a heavywieight in the latest Industry Outlook & Residual Trends report from ALG. Not only was the company found to have the strongest mainstream brand residual positioning for May/June, but it topped the mainstream side of ALG’s Used Statistical Brand Value measure, as well, which gauges […] [Read More]

Along with revealing that a few models will get a delayed fall launch, Honda’s latest production update shared on Monday gave a glimpse as to which specific units will be in the shortest supply as the automaker attempts to ramp up production again, following the Japan earthquake and tsunami. Honda stressed it will bring in only […] [Read More]

On Monday, Copart launched a new iPhone app — Copart Sell My Car — in support of the company’s CopartDirect model, which executives believe can allow consumers to sell their unit and receive payment in as little as one business day. CopartDirect can provide consumers with an offer to purchase their vehicle when they enter […] [Read More]

IronPlanet Motors highlighted that hundreds of cars, trucks, motorcycles and powersports units are scheduled to be auctioned during its next online sale Wednesday. The unreserved auction features vehicles located throughout the U.S., including SUVs, ATVs, pickup trucks, motorcycles, convertibles, classic cars and RVs from various manufacturers including Chevrolet, Ford, Mercedes-Benz, Porsche, Volkswagen, Jeep, Harley Davidson and others.  […] [Read More]

In financial moves aimed at restarting production, Spyker Cars N.V. announced Monday it secured short-term funding for Saab Automobile AB by entering into a 30-million Euro convertible loan agreement with Gemini Investment Fund Limited. Executives explained Spyker’s 30-million Euro convertible loan agreement with Gemini contains a six-month maturity at a 7-percent annual interest rate and […] [Read More]

The American International Automobile Dealers Association has brought ADESA into its Affinity Partner program, the association revealed Monday. “We are very pleased to add ADESA to AIADA’s Affinity Partner program,” stated AIADA president Cody Lusk. “As a vehicle remarketing industry leader for more than 20 years, ADESA creates a quick and simple marketplace for dealers, […] [Read More]

BALTIMORE — eOriginal, a vaulted repository, electronic signature and transaction management solution provider, is bringing together a partner from Hudson Cook and the president of Connections Insights for an auto finance Webinar. These experts plan to discuss how electronic signatures can enable direct auto finance lenders to capture greater market share and close business in […] [Read More]

DALLAS — Santander Consumer USA revealed this week it has adopted the National Auto Auction Association's Silver National Certification Standard for finance company vehicles sold at auctions nationwide. Santander recapped that this wholesale certification program introduced by NAAA in January sets a universal, streamlined set of standards that all wholesale stakeholders can use when making […] [Read More]

NEW YORK — In reporting its preliminary first-quarter results, Ally Financial announced that its auto originations from continuing operations soared 75 percent for the first quarter to $14.3 billion, compared to $8.2 billion in the previous year. First-quarter consumer originations included $9.6 billion in new originations, $2.5 billion in used originations and $2.2 billion in new […] [Read More]