Since auto finance and recovery industry professionals still seem to consistently ask a variety of questions about license-plate recognition technology, Auto Remarketing recently did a Q&A with Scott Jackson, founder and chief executive officer of MVTRAC. Jackson’s company is one of the largest LPR providers to the repossession industry. He considered four questions: How Does LPR Make Agencies More […] [Read More]

Canada’s fourth-quarter auto delinquency rate showed a modest sequential drop as well as falling substantially on a year-over-year basis, according to the latest analysis from TransUnion. The company went on to report that the aggregate amount of auto debt for the country fell, while the auto debt per borrower climbed, leading TransUnion to suggest that this points […] [Read More]

RVI Group vice president Rene Abdalah doesn’t foresee the same kind of downward impact from skyrocketing gas prices that occurred in 2008, but he does expect that the Canadian wholesale market will see some softness due to the fuel-cost surge that has bubbled up recently. Granted, wholesale prices during January climbed 1.4 percent month-over-month, but […] [Read More]

Canada’s wholesale prices increased on a both a year-over-year and sequential basis during January, according to the latest ADESA Canada Used Vehicle Price Index report, which indicated that sale units going through auctions for January climbed from the prior month and showed a year-over-year decline. Specifically, ADESA’s data — powered by ALG Canada — indicated […] [Read More]

KAR Auction Services chief executive officer Jim Hallett challenged his management team in 2010 with a long list of objectives. In sharing how the company grew its income and revenue year-over-year, Hallett mentioned one of these goals and immediately followed by saying, “and we did." “As I reflect on 2010, I’m very proud of the […] [Read More]

Reflecting on General Motors’ first full year of operations after emerging from bankruptcy as a new company, chairman and chief executive officer Dan Akerson touted the “good start” that 2010 represented with net income approaching $5 billion — GM’s first profitable year since 2006 — and revenues exceeding $135 billion But he also stressed that GM […] [Read More]

From a loss of nearly $1 million to an adjusted net income level surpassing $5 million: That’s what Lithia Motors accomplished during the fourth quarter thanks to significant gains in both used- and new-vehicle sales. Lithia officials this week announced fourth-quarter adjusted net income from continuing operations came in at $5.6 million or 21 cents […] [Read More]

General Motors Financial Co. revealed its 2010 Auction of the Year on Thursday. Receiving the honor was Rawls Auto Auction in Leesville, S.C., which enjoyed its second consecutive year of winning. Moreover, this was the auction’s third time winning the honor in the last five years. Explaining how the company determines Auction of the Year […] [Read More]

More than 2 million Toyota and Lexus vehicles are being recalled in the U.S., including about 1.38 million units that have been added to the floor-mat entrapment recall from 2009. Overall, approximately 2.17 million vehicles are being recalled in three separate actions by Toyota Motor Sales USA. There are two new recalls that deal with […] [Read More]

Touting a rather robust fourth quarter and an all-time high for full-year profit, Dollar Thrifty said it closed 2010 with its eighth straight quarter of double-digit year-over-year corporate adjusted EBITDA gains. Specifically, quarterly corporate adjusted EBITDA came in at $30.2 million, up more than 15 percent year-over-year. “This quarter marks our eighth consecutive quarter of […] [Read More]