INDIANAPOLIS — The industry is seeing a dramatic increase in recovery agents being harmed — or worse, killed — while securing the collateral of their clients. Unfortunately, lenders unknowingly exacerbate this environment with contingency demands. Contingency pricing attempts to cut costs by holding payment until the vehicle is recovered. Contingency demands put the burden on the recovery specialist […] [Read More]

MINNEAPOLIS — The incoming president of ACA International, the Association of Credit and Collection Professionals, asked the industry several questions about where it's heading during the next 10 years. Martin Sher, co-chief executive officer of AmSher Receivables Management in Birmingham, Ala., wondered, "Will you still be working in the credit and collection industry? Will your business […] [Read More]

FREDERICK, Md. — The National Auto Auction Association is hosting an online seminar next week that will provide a look into total quarterly auction volume as well as average prices based on NADA/NAAA AuctionNet data. The "General Economic Outlook and an Overview of New and Used Auto Sales and the Auction Industry" Webinar will be moderated […] [Read More]

ATLANTA — Wholesale pricing had been on an upward trajectory ever since the first quarter of 2009, but hit somewhat of a limit after reaching record levels in May, according to Manheim chief economist Tom Webb, who recently talked with Auto Remarketing to shed some more light on the company's mid-year edition of the 2010 Used […] [Read More]

DETROIT and WASHINGTON, D.C. — As President Obama walked through General Motors and Chrysler manufacturing facilities late last week, the White House sent out a report about its cumulative efforts to resuscitate the industry. The administration stressed throughout a document titled "The American Auto Industry: A Comeback Story" that had federal officials not swooped in with […] [Read More]

DETROIT — General Motors has discovered that almost two-thirds of Chevrolet Equinox and Traverse buyers are new to the brand. In fact, almost half of all buyers who turn to these models are conquest sales taken away from other automakers. The majority of these Chevy buyers are apparently trading in non-Chevrolet vehicles so far this year. In addition, the company indicated […] [Read More]

WESTLAKE VILLAGE, Calif. — J.D. Power and Associates believes 77 percent of new-vehicle buyers use the Internet during the shopping process. So which websites do these potential buyers use the most? Turns out, more than two-thirds of these shoppers visit at least one manufacturer website in the six months leading up to purchase. J.D. Power pinpointed […] [Read More]

MEDFORD, Ore. — Along with naming a new chief financial officer, Lithia Motors announced strong vehicle sales performances of both used and new units resulted in net income gains during the second quarter. Revealed last week during its regular financial report, Lithia indicated its 2010 adjusted second-quarter net income from continuing operations came in at 27 […] [Read More]

PORTLAND, Ore. — Chrome Systems has rolled out a new online tool designed to help dealers develop on their website a "virtual accessories department" to move these items, which can certainly help to raise profits for stores when added to car sales.  Accessories Essentials can be incorporated into a dealer's website, officials noted, and is meant to be a […] [Read More]

WOODCLIFF LAKE, N.J. — BMW Group has agreed to a six-year deal where it will be an official partner of the United States Olympic Committee and the National Governing Bodies of four different sports. Under the partnership, the company will serve as the "Official Mobility Partner" of the U.S. as well as USA Bobsled & Skeleton, […] [Read More]