IRVINE, Calif. — Though they continued to move upward, the recent surge in used-vehicle values calmed down a bit last week, according to Kelley Blue Book. This marked the third week in a row where the appreciation in values has become less steep. Specifically, the was a 0.2-percent upswing, on average, in used-vehicle values last week, […] [Read More]

CARMEL, Ind. — KAR Auction Services said it achieved record online sales volumes last year, as both its ADESA and Insurance Auto Auctions business units saw double-digit growth in the amount of vehicles sold online. Specifically, ADESA saw its online sales volume grow 30 percent year-over-year in 2009, while there was a 9-percent hike for online […] [Read More]

TORRANCE, Calif. — Toyota will not fight the $16.4 million fine the National Highway Traffic Safety Administration is seeking from the automaker for allegedly not informing proper authorities of its "dangerous sticky pedals" issues in a timely manner. Toyota said Monday it has agreed to settle the civil matter and pay the penalty in full, but automaker officials still argue […] [Read More]

FREDERICK, Md. — The National Auto Auction Association recently revealed that its auction standards committee has drafted the latest wholesale certification standard. The committee also has invited members and other segments of the industry to review and submit comments. NAAA emphasized that the wholesale certification standard is aimed at achieving several objectives: —Decrease buyers' risk as […] [Read More]

GAINESVILLE, Ga. — If dealer commentary gathered by Black Book's auction field team and survey personnel are a strong indication, lot management is becoming pretty worn down about tight wholesale volumes and rising market prices. Black Book managing editor Ricky Beggs indicated during the latest "Beggs on the Used Car Market" report that two instances in […] [Read More]

NORTHBROOK, Ill. — Donlen executives on Monday announced the winners of their annual auction awards. Among the eight honors the company handed out, Carolina Auto Auction, of Anderson, S.C., received not only the Auction of the Year award, but the operation also claimed the distinction for Best Days-to-Condition Report.  Honored auctions include:  —Auction of the Year: […] [Read More]

AUBURN HILLS, Mich. — A U.S. Bankruptcy Court in New York has settled a dispute between Chrysler Group and the state of North Carolina over dealers seeking reinstatement. The automaker revealed in a statement on Monday that the court brokered an agreement that indicates the state will not enforce its rejected dealer laws, measures that were […] [Read More]

LOS ANGELES — Westlake Financial Services cited the success of a recent test program with National Creditors Connection as the reason to expand a partnership with the field contact service provider. Executives highlighted that NCCI's tool helped to improve contact and payment rates of delinquent accounts by 10 to 15 percent. Westlake vice president of servicing […] [Read More]

AUSTIN, Texas — A+ Federal Credit Union, one of the largest operations in the Texas state capital, recently broadened its relationship with Wolters Kluwer Financial Services. A+FCU officials announced they're joining Wolters Kluwer's AppOne platform for indirect lending, credit approval and compliance processes. The credit union noted that it's not new to the auto finance market, but […] [Read More]

BANDON, Ore. — According to CNW Research's Art Spinella, tough economic times are dramatically driving up the growth of buy-here, pay-here lots throughout the country. "Back in the day, such operations were typically small, dusty outlets with marginal vehicles where a customer returned each week to make a payment. The dealer provided minimal transportation at somewhat […] [Read More]