CARMEL, Ind. — On Monday, ADESA Lexington revealed that the operation won the 2009 Consumer Portfolio Services Auction Recognition Award in the category of best retention. Executives explained that best retention means ADESA Lexington provided the top recovery rates, despite a tough economy. They said vehicles sold for an average 92.9 percent of book value. This […] [Read More]

TULSA, Okla. — Dollar Thrifty Automotive Group has seen a swell in franchising activity lately, as the company continues to expand both in the U.S. and abroad. Specifically, Dollar Thrifty reported Monday that in the past two quarters, it has granted 15 new franchises. Moreover, it has signed contracts with 13 additional franchises, and expects that […] [Read More]

WASHINGTON, D.C. — Continuing with the grassroots-style marketing of its Fiesta model, Ford is looking for the "most unique and stylish individuals" to appear in an upcoming TV advertisement for the vehicle. The automaker is holding the "Inspired by Color" casting call event this week at Howard University in Washington, giving everyday folks the shot at […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack announced this week that its number of active financing sources connected to its network reached a new threshold. Company executives highlighted that the figure now stands at 850, including GMAC Financial Services. The company reiterated that dealers can use DealerTrack to electronically submit credit applications. Those applications are carried on to […] [Read More]

DETROIT — A 27-year veteran of GMAC Financial Services and its former parent General Motors, Bill Muir, head of the company's global automotive services, announced his intention Monday to retire within the next year. Muir will continue in his current role until a replacement is named. After that time, he will remain with GMAC for a "period […] [Read More]

FARMINGTON HILLS, Mich. — Mercedes-Benz Financial announced it has received approximately $2.5 million in payments from customers via their mobile devices since launching its iPhone app last October. Given this success, the company has decided to launch an iPad app as well. "Our customers' response to the convenience of managing their accounts with their iPhone or […] [Read More]

CHICAGO — Nationwide Acceptance Corp. announced late last week that it has opened a new division that will specialize in providing credit lines to buy-here, pay here dealers in the markets the company serves. Asset-backed senior credit lines are available from $1 million to $5 million and will be offered in Arizona, California, Idaho, Illinois, Indiana, […] [Read More]

SHELBY TOWNSHIP, Mich. — Todd Wysocki, president Michigan Auto Title Services, recently hired a new executive to serve as vice president of strategic planning and analytics. Coming over to MATS from Hyundai Motor Finance is Matthew Yoo. MATS is looking for Yoo to leverage key factors of success in the title industry and proprietary process developed […] [Read More]

WEST PALM BEACH, Fla. — Manheim Palm Beach recently held its Fifth Annual One Hundred Grander Sale, which brought in 270 dealers attending in person and 176 participating online through Manheim Simulcast. The event included a consignment of 68 vehicles, each of which was valued at more than $100,000. Included in the lineup of vehicles offered was a […] [Read More]

GAINESVILLE, Ga. — Auction activity and prices continue to move higher, according to the latest report on wholesale trends from Black Book. For the seventh straight week, more than 60 percent of the wholesale value adjustments that Black Book made were positive. In fact, this past week marked the third time in the reporting period that […] [Read More]