NEW YORK — LexisNexis Risk Solutions recently rolled out a new tool intended to boost skip-tracing productivity for collectors and recovery agencies. The company contends LexisNexis Accurint for Collections Skip Wizard can simplify skip-tracing and turn novice collectors and recovery agents into skilled skip-tracers without expensive training. Executives explained Skip Wizard can improve efficiency and productivity […] [Read More]

CALEDONIA, Wis. — Celebrating 45 years of business, Manheim Milwaukee hosted a customer appreciation sale last month that was attended by more than 2,400 dealers and included close to 3,500 units for sale. "This was a great sale for us," stated Tom Saldutte, the auction's assistant general manager. "We attracted a lot of first-time buyers while […] [Read More]

ROSELAND, N.J. — Automatic Data Processing's chief executive officer announced Friday that his company has entered into a definitive agreement to purchase Cobalt for about $400 million in cash. The deal, which is subject to normal regulatory review, is expected to close within four to six weeks. "I am pleased to announce this transaction. Acquisitions that […] [Read More]

FOUNTAIN VALLEY, Calif. — June saw the industry's certified pre-owned sales climb year-over-year for the fourth straight month, and although the struggle among dealers to find certifiable inventory may stick around for a while, things could be getting better in the near future. Overall, 137,773 CPO units were sold during June, which marked a 3.2-percent gain from […] [Read More]

McLEAN, Va. — While the overall state of used-vehicle pricing was still rather healthy, there were numerous month-over-month value declines across various segments during June, some more pronounced than others, according to NADA Used Car Guide. Among two- and three-year-old vehicles, the bulk of the segments were down modestly, but the one-year-old vehicle class was down […] [Read More]

SANTA MONICA, Calif. — Edmunds.com analysts recently determined the primary source of Toyota's new-vehicle purchasers. Turns out, they found the largest percentage of sales is now coming from buyers who trade in other Toyotas. Last year, the site calculated 42 percent of Toyota's new-vehicle sales included a trade-in of another Toyota model. Analysts didn't include the […] [Read More]

NORTHBROOK, Ill. — When it comes to plug-in electric vehicles, the majority of fleet managers don't believe they have all the information they need to make educated choices, according to the findings of a recent Donlen survey. With that in mind, the company has rolled out an Electric Vehicle Cost Calculator that is designed to help […] [Read More]

AUSTIN, Texas — Innovative Funding Services, a financing company for lessors and fleet management businesses, recently highlighted how last year's facility relocation has propelled it to significant growth in the past quarter. Company executives revealed additional partner opportunities and internal initiatives led IFS to a growth rate of more than 33 percent. Rob McKie, the chief […] [Read More]

DETROIT — General Motors and Pacific Century Motors reached an agreement late last week that involved the sale of one of the domestic automaker's manufacturing supply properties. Officials explained PCM, an entity formed by The Tempo Group and an affiliate of the Beijing Municipal Government, is set to purchase GM Global Steering Holdings, commonly known as […] [Read More]

REDWOOD CITY, Calif. — After a 3-percentage-point month-over-month decline in May, Canadian auction prices were steady in June as compared to the prior month, though they were softer than year-ago levels, according to OPENLANE's latest Canadian Market Index. Specifically, the average auction pricing for the month was off 8 percentage points compared to June 2009, but […] [Read More]