RICHMOND, Va. — Tuesday marked the beginning of CarMax Cares Month, an endeavor where company associates support the communities where they live and work. CarMax indicated that its associates are volunteering in teams throughout June at several nonprofit organizations such as Boys & Girls Clubs, the Ronald McDonald House and the American Cancer Society. Beyond those specific […] [Read More]

SANTA MONICA, Calif. — Though Ford's communications and management teams have remained largely mum about reports that the automaker will wind down Mercury, Edmunds.com said if this does come to pass, then it is good news. Analysts with the site also suggested that most of the customers will stick with Ford when the Mercury brand closes up shop.  In fact, […] [Read More]

FREDERICK, Md. — The National Auto Auction Association introduced its new logo to members Tuesday, encouraging members to use this new logo instead of the old one. "We encourage each member to use the new NAAA logo in print and digital advertising, member Web sites, and on internal member promotional materials and publications," the association said in […] [Read More]

CHICAGO — The most recent Cars.com Consumer Lead Index indicates that negative residue from Toyota recalls isn't leaving the minds of potential buyers too quickly, and it might be spilling over to other automakers. Site officials believe recalls continue to have a negative impact on sales activity since leads for Toyota vehicles overall have declined close […] [Read More]

NASHVILLE, Tenn. — Independent auto auctions continue to be a hot commodity as auction companies vie for market share by adding new facilities and expanding locations.  Pierre Pons, managing partner and president of TPC Management Co., said that the number of auction acquisitions and consolidations completed this year could readily outpace those of recent history.  […] [Read More]

GAINESVILLE, Ga. — With Memorial Day weekend in the rear-view mirror, Ricky Beggs not only offered his usual weekly look at the wholesale market but also shared thoughts about how the previous three months behaved. The managing editor at Black Book began first by mentioning what dealers, remarketers and auction personnel are calling a "more stable […] [Read More]

TOYOTA CITY, Japan — Toyota Motor Corp. shook up its divisional assignments again on Tuesday. Executives said corporate-social-responsibility functions now fall under the jurisdiction of their corporate planning division. Previously, CSR functions, which include risk management, were under the environmental affairs division. The automaker emphasized it made the change to "enhance the collection of information within […] [Read More]

CARMEL, Ind. — ADESA Boston is hosting its 10th annual Classic Car and Motorcycle Run this weekend that will not only feature a lineup of more than 300 vehicles, but also raise funds for a foundation benefiting a local children's hospital.  The auction — which is located in Framingham, Mass. — is donating all proceeds from the event […] [Read More]

SOUTHFIELD, Mich. — A recent study by A.T. Kearney discovered that only a one-point increase in auto loan approval rates could lead to relatively healthy jump in sales. "At current loan rates, a one-point increase in loan approval rates can increase the demand for new vehicles by as much as 350,000 units," explained Dan Cheng, partner […] [Read More]

SALT LAKE CITY — After making some tough decisions and pulling back on loan volumes approved and dealer relationship numbers, Scot Seagrave, of Prestige Financial, said the company is ramping back up and reaching out to more dealers. The plan is to double originations this year. Prestige Financial currently funds about $8 million in auto […] [Read More]