CARY, N.C. — CarMark Certified, the independent vehicle certification program that is equivalent to the average factory CPO program, became operational last week in 41 states and the District of Columbia, with applications in the remaining nine states under active review and approval expected soon. In another major development, three major financial sources approved the […] [Read More]

BANDON, Ore. — In his recent analysis of the market, what CNW Research company president Art Spinella pointed to as the most troubling phenomenon for the new-vehicle market's health is the lack of floor traffic at dealerships.   Overall, Spinella said it is likely there will be 1.03 million new vehicles sold this month, meaning there isn't a […] [Read More]

GAINESVILLE, Ga. — Ricky Beggs and the rest of the crew at Black Book watched all 10 car segments decline in value again last week. The streak of drops now has reached eight straight weeks, with prestige luxury cars leading the way. The Black Book managing editor pointed out, however, in his latest "Beggs on the Used Car […] [Read More]

CARY, N.C. — Auto Remarketing is calling upon auctions to help us prepare for our special National Auto Auction Association conference issue. As we did last year, we will be featuring a special spread that highlights auctions throughout the country through photos. Whether it is special sale photos, staff photos or photos from the lanes, we […] [Read More]

ST. LOUIS — Headed up by industry veterans, MetroGistics recently became another option for vehicle transportation, storage and ancillary services in the industry. Managing partners William Billiter and Scott Naz highlighted the brisk beginning the company has enjoyed. They noted MetroGistics has already shipped more than 1,000 vehicles for various clients. Specializing in city-to-city transport, MetroGistics […] [Read More]

DETROIT — As more than 600 Chevrolet dealers in targeted markets prepare for the launch of the Chevrolet Volt, they'll finally learn what price point General Motors has set for the electric vehicle. OEM officials plan to announce today the Volt's MSRP and the ordering process dealers will use to fulfill customer requests. The announcement coming […] [Read More]

KNOXVILLE, Tenn. — ProconGPS has rolled out a new GPS device meant to track collateral more closely through the brand familiar to subprime auto finance operations, GoldStar GPS. Management highlighted features of the ROCKET that include a hypersensitive antenna and enhanced circuitry. Executives believe the small form factor and custom hypersensitive GPS antenna in this device […] [Read More]

CHATTANOOGA, Tenn. — Trifish Finance, an indirect auto finance company based in southern California, recently switched to ACH Federal to orchestrate online payment processing services. Executives from both companies have been pleased with the relationship that began in May, saying that more than $434,000 worth of transactions were processed during the first 30 days. Trifish Finance noted it […] [Read More]

NEW YORK — Last week's revelation that General Motors would acquire AmeriCredit also prompted a reaction from Fitch Ratings. A day after the automaker made its announcement, Fitch placed AmeriCredit on rating watch. The ratings firm explained it will now analyze GM's credit profile, saying AmeriCredit's ultimate rating will be affected by the strength or weakness of GM. […] [Read More]

NEW YORK — Chase recently reported that auto loan originations for the second quarter were up 9 percent from the prior year; however, they were down 8 percent from the previous quarter. More specifically, the company indicated that average auto loans came in at $47.5 billion, up 10 percent. Originations for the quarter were $5.8 billion, […] [Read More]