NEW YORK — Though its decision to shut down the New United Motor Manufacturing Inc. vehicle plant in Freemont, Calif., has raised concerns among some state leaders, Toyota is offering transition support to workers in the form of $250 million to provide bonuses for the plant's salaried and hourly team members who continue to build vehicles until the […] [Read More]

TITUSVILLE, Pa. — This week, Salvage Direct announced the opening of a new, enhanced processing center near Philadelphia, marking its sixth facility in Pennsylvania and its 80th worldwide. The company's 2010 expansion plan commenced when SD New Britain came online with a facility that's situated on a 21-acre parcel between Philadelphia and Allentown. Officials highlighted that […] [Read More]

LAS VEGAS — In the latest issue of Pulse, which has been released in conjunction with the National Auto Auction Association/CAR Conference, ADESA Analytical Services offers a review of macro- and microeconomic indicators that are impacting the remarketing industry. The new edition offers a recap of 2009 and an outlook for 2010. Also, in a special […] [Read More]

MONCKS CORNER, S.C. — Charleston Auto Auction announced it has received the 2009 National Auction of the Year Award from MarkOne Financial. Jason Ghioto, collection/remarketing manager for MarkOne was on hand to present the award. "Overall service and, of course, retention are the two top categories we base auction performance. Charleston Auto Auction and its staff […] [Read More]

SCHAUMBURG, Ill. — Experian Automotive announced that it has enhanced its vehicle data service offerings with Manheim. In addition to providing auction data to Experian's AutoCheck reporting service, a free vehicle history snapshot will now be offered to give dealers immediate access to potential vehicle condition issues on www.manheim.com, OVE.com and Manheim Simulcast.   The AutoCheck […] [Read More]

WASHINGTON, D.C. — Vehicle sales throughout the 12 Federal Reserve Districts, for the most part, have remained static or softened recently, and dealers in some districts reported that extreme winter weather was likely to blame for at least part of the slowdown, according to the latest Beige Book report. Specifically, contacts in New York, Cleveland and […] [Read More]

CARY, N.C. — Registration is now open for the Automotive Economic Forecast & Financial Forum, the newest automotive industry event from S&A Cherokee, publishers of the Auto Remarketing and SubPrime Auto Finance News media brands and owners of the Pre-Owned Auto Dealers Alliance. The forum will be held May 10-11 at the Chicago Marriott Downtown Magnificent […] [Read More]

DETROIT — General Motors said Wednesday afternoon that vice chairman Bob Lutz is retiring May 1. In his 47-year career, he served in senior leadership roles with BMW, Chrysler and Ford, in addition to GM. He began his auto industry career at GM at 1963, eventually making his way back to the automaker in September 2001 as […] [Read More]

GAINESVILLE, Ga. — As the second month of the year closed, wholesale auction prices continued to gain rising momentum, according to Black Book's Ricky Beggs. He indicated this past week that 63 percent of the models adjusted had increases in value. Those increases in value were for both clean and average condition values, according to Beggs, […] [Read More]

REDWOOD CITY, Calif. — The OPENLANE Certified Auction Partner program made its debut on Wednesday, and is designed to provide physical auction locations the opportunity to use OPENLANE.com to remarket units that didn't sell in the auction lanes. Meanwhile, dealers can also make units available for sale on their lot at the same time, just one of […] [Read More]