ATLANTA — Auto Auction Services Corp. recently hosted a focus group for the repossession industry, inviting recovery agency managers to give their feedback about how they run their businesses, and what they need to continue serving lending institutions and other clients competitively. This candid feedback session last October occurred on the heels of a nationwide recovery […] [Read More]

JACKSON, Miss. — Recovery Holdings named the president of its newly formed business unit, Remarket America. The company chose an executive with years of remarketing and auction experience. Assuming the position is David Gryglewicz, who spent more than 15 years at posts with ADT Automotive and Professional Auto Remarketing, or PAR, which is a part of […] [Read More]

WINDSOR, Conn. — Southern Auto Auction announced recently that it will be hosting five special Mercedes-Benz Financial sales between now and the end of May. These events — each of which will include 225 Mercedes-Benz units — will be held on Jan. 27, Feb. 24, March 24, April 21 and May 19. "We are very pleased to announce […] [Read More]

ATLANTA — Despite contentions that the market could be challenged to generate adequate wholesale supplies due to drops in repossessions and off-lease vehicles, Manheim chief economist Tom Webb still sees positive signs in the wholesale supply market for 2010. Webb shared the assessment during the Manheim Used Vehicle Value Index quarterly conference call late last week. Basically, […] [Read More]

DETROIT — Providing an update regarding its wholesale financing of Chrysler dealers, GMAC Financial Services said late last week that it has finished the formal underwriting for those who requested standard wholesale credit lines. Of the 1,474 U.S. Chrysler dealers that applied for this funding, the lender approved 94 percent. Breaking these numbers down a bit, […] [Read More]

DETROIT — General Motors officials have been busy this past week announcing more details about the binding arbitration program for terminated dealers, releasing a bit more news about a potential Saab wind-down and deciding to sale one of its divisions. When it comes to the special binding arbitration program for terminated dealers seeking reinstatement, officials indicated […] [Read More]

CARMEL, Ind. — ADESA and Toyota Financial Services finished 2009 on a strong note, as the companies held two record-breaking weekend sales events on DealerBlock to conclude the year, they announced late last week. As most know, ADESA DealerBlock hosts a weekend sale every Friday through Monday. This gives dealers an additional way to find inventory, […] [Read More]

WASHINGTON, D.C. — Dealers who want to use Facebook as a way to push their inventory listings and more on the ever-growing Web site now have that opportunity thanks to an industry-first solution developed by GOSO, a Web and social media marketing suite. GOSO coordinated with a Minnesota dealership on an early version of this new application […] [Read More]

DETROIT — Senior global auto industry executives appear to be cautiously optimistic about the next five years, as many expect auto market stability, investment and growth, but are still concerned with a number of issues impacting the industry, according to KMPG, which recently released its 11th annual global automotive survey. The study, which gathered insight from […] [Read More]

LAS VEGAS — Edmunds.com used the annual Consumer Electronics Show as the platform to hand out a new award to a domestic automaker that's been raking in many honors as of late. The Web Site gave its first Car Technology Breakthrough Award to the 2010 Ford Taurus. Officials presented the honor to the nameplate's chief executive […] [Read More]