Thanks to wholesale prices for highly sought-after, slim-profit margin compact cars moving higher, the Manheim Used Vehicle Value Index just keeps climbing. Yet again, the May reading set a new index record as the level soared to 127.8, representing a 5.6-percent increase from the year-ago level. Manheim pointed out the index now has reached a […] [Read More]

As dealers continue to respond to a used-vehicle supply shortage, LeaseTrader.com announced Tuesday the launch of a program designed to help. The company’s new Lease Rescue program allows dealers to buy out the remaining contracts of near-end leases from drivers interested in escaping before their lease expires. [Read More]

Specializing in collector cars, Barrett-Jackson announced this week that its 2nd annual Orange Country Auction is scheduled for June 24–26 and is set to be even bigger this year. The three-day automotive lifestyle event will return for a second year to the OC Fair & Event Center in Costa Mesa, Calif. To accommodate the Scottsdale, […] [Read More]

Chrysler is giving some of its top North American executives additional responsibilities, the company said Tuesday, as well as announcing a few other appointments within its leadership ranks. President and chief executive officer of the Ram Truck brand Fred Diaz will now also serve as president and CEO for Chrysler de Mexico. This includes duties in Latin […] [Read More]

Continuing a trend within the auction industry to boost charity work, Advanced Remarketing Services enhanced its vehicle donation program with a new partner. On Tuesday, the company reinforced its commitment to supporting the humanitarian relief effort for children by partnering with the U.S. Fund for UNICEF. Advanced Remarketing Services explained the U.S. Fund for UNICEF […] [Read More]

After close to a year of development, ActivEngage recently rolled out a new mobile application that allows dealers to use their mobile devices to tap into advanced chat capabilities. Essentially, dealers can use the mobile application to access chat functionality from virtually anywhere. “We spent a great deal of time on the development of the […] [Read More]

In light of the ever-moving dynamics in the economy, ALG has found that shifts in fuel cost and used-vehicle supply forecasts have led to residual value projections sliding over the past couple of months, the company said in its July/August edition released late last week. More specifically, ALG indicated that residuals value projections have dropped […] [Read More]

Wells Fargo Auto Finance recently released its annual awards, honoring four auctions in different categories. The lender recognized the following auctions as winners: —ADESA Kansas City: Most Improved Site —Manheim Baltimore-Washington: Best Certification Results —Manheim Ohio: Best Online Performance —Manheim Orlando: Operational Excellence Sharing his praise for all the winners, Howard Segal, vice president/national remarketing […] [Read More]

Less than a month after Hertz Global Holdings rolled out a bid to buy up all of Dollar Thrifty Automotive Group’s outstanding stock, DTAG is advising its shareholders to hold off on selling for the time being. Dollar Thrifty announced Monday that its board of directors has unanimously recommended DTAG shareholders not to tender their […] [Read More]

Mercedes-Benz Financial Services named a new president and chief executive officer for The Americas this week. Taking on this post is Peter Zieringer, current chairman of Germany’s Mercedes-Benz Bank.   Zieringer was also appointed to the Daimler Financial Services Board of Management, reporting to chairman Klaus Entenmann.   [Read More]