FORT WORTH, Texas — AmeriCredit announced late last week that it has priced its first securitization deal after after saying it will soon become a subsidiary of General Motors. AmeriCredit priced a $200 million offering of subprime automobile receivables-backed securities. The lead manager on the transaction is RBS. Co-managers include Credit Suisse, Deutsche Bank Securities, J.P. […] [Read More]

NEW YORK — While monthly default rates declined for first mortgage and bank card loans, the same could not be said for second mortgages and auto loans. Standard & Poor's and Experian discovered that auto loan default rates increased to 1.9 percent from 1.6 percent, while second mortgage default rates increased to 2.8 percent from 2.4 […] [Read More]

CARY, N.C. — As valuable as it is to hear the thoughts of a single speaker during a conference, it can be equally helpful to hear the varied views of a variety of experienced executives. That's why, during this fall's National Remarketing Conference and CPO Forum, panel discussions will be a key part of the lineup.  […] [Read More]

CARMEL, Ind. — Softer sales on the retail side of the used market kept overall wholesale demand down in July, but because of the robust certified pre-owned retail segment, the wholesale outlook for late-model used units looks to be promising, according to ADESA's Tom Kontos.  Overall, the average wholesale price was $10,060 during July, he shared. […] [Read More]

TORRANCE, Calif. — With Norm Olson's retirement earlier this summer, Toyota management announced some internal executive shifts to ensure its certified pre-owned segment continues going strong. Named to executive team leading this segment is Jason Cropper, as TCUV operations manager, and Tom DeLuise, as national manager for TRAC and TCUV. Cropper is responsible for Toyota's sales operations […] [Read More]

CARY, N.C. — In a new and exciting twist this year, instead of having several Certified Pre-Owned Dealers of the Year representing various makes, Auto Remarketing will honor one select automotive professional with this title, and this executive will be on hand at the 2010 CPO Forum to highlight some best practices and share some tips […] [Read More]

SAN FRANCISCO and IRVINE, Calif. — Autobytel has teamed up with DriverSide for a re-launch of its MyGarage in the fourth quarter of this year. DriverSide is powering the service, which will be housed in a personalized ownership section on Autobytel.com. The re-introduction of MyGarage will kick off a series of products and services from Autobytel […] [Read More]

ATLANTA — Manheim Specialty Auctions recently rolled out its Platinum RV Collections Sales series at two of its locations, and following some initial success, it plans to bring this monthly sale to other auctions throughout the country. Two different Manheim facilities currently host these sales once a month, and it is also available via Manheim Simulcast. […] [Read More]

ATLANTA — In celebration of its 60th anniversary year of operating in the U.S., Porsche Cars North America began a contest Friday that entails searching out the oldest Porsche models in the country. The automaker has put out the call for the oldest vehicles in 12 different model categories, in addition to the oldest vehicle overall. The My Classic […] [Read More]

DEARBORN, Mich. — Ford recently announced that for 2010, the automaker has awarded 13 University Research Program grants to 12 different schools throughout the world. The research funding is designed to support exploration of a wide range of new ideas and technologies that could benefit future Ford vehicle development, according to the automaker. The newly added […] [Read More]