IRVING, Texas — Steadily rising amounts of auto loan defaults aren't necessarily translating into plenty of business for all repossession agents. That's the assessment of Les McCook, executive director of the American Recovery Association. In fact, McCook shared recent conversations with member agents and other industry leaders that revealed two startling assessments. He indicated that often […] [Read More]

RALEIGH, N.C. — Consolidated Asset Recovery Systems is often asked how lenders can address escalating charge-offs and losses. You may find the answer surprising. Basically, CARS provides managed repossession and remarketing services. The company is at the forefront of an industry that has been greatly impacted by the recent economic crisis and is seeing dramatic changes […] [Read More]

CARMEL, Ind. — ADESA Atlanta and ADESA Jacksonville are collaborating next month for a two-day heavy-duty truck and equipment sale that will take place at two separate facilities in Florida. There will be a total of more than 500 units offered during the event, which will be open to both dealers and the general public. The […] [Read More]

RICHMOND, Va. — In what could be a potentially good sign for the used-vehicle industry, CarMax said late last week it looking for candidates to hire for roughly 600 store positions throughout the nation, with a majority being sales jobs. CarMax is also looking to hire in service operations, the business office and purchasing. The company emphasized […] [Read More]

McLEAN, Va. — NADA Used Car Guide is offering a free online seminar this week that can show dealers strategies for improving their appraisal processes. The "Best Practices for a Dealer's Appraisal Process" will be held at 1 p.m. (EST) Tuesday and is designed to demonstrate how vital the right appraisal can be in boosting customer satisfaction […] [Read More]

ATLANTA — For the first time, late-model, pre-owned Subaru vehicles remarketed by Subaru of America now are available at a pair of Manheim auctions on the West Coast. The two additional locations are Manheim Seattle and Manheim San Francisco Bay. Company officials stressed that now franchised Subaru dealers can choose from a total of nine Manheim […] [Read More]

WESTLAKE VILLAGE, Calif. — J.D. Power and Associates projected a sluggish new-vehicle retail selling rate for January, especially in light of a relatively strong performance during the final month of 2009. Company analysts predicted that January's sales total would come in at 500,900 units. They indicated that represents a seasonally adjusted annualized rate of 7.9 million […] [Read More]

CARY, N.C. — Cherokee Automotive Group Analytics recently completed another round of polling and released results. The questions were asked to executives representing dealerships, auto auctions, banks, credit unions, financial companies, logistics and manufacturing. Two primary topics were the focus of the latest survey — repossessions and remarketing Repossession Trends Reviewing these trends, CAG discovered that nearly […] [Read More]

SANTA MONICA, Calif. — In what could be considered an upset, the Toyota Prius did not lead the way when Edmunds.com released the results of its Consumers' Favorites Hybrid Vehicle Survey. Instead the honor went to the Ford Fusion Hybrid, the vehicle that received 26 percent of the votes according to Edmunds.com. The Toyota Prius earned […] [Read More]

ST. PAUL, Minn. — Offering a helping hand to secondary education in the state, Toyota and its Minnesota Toyota Dealers are sponsoring the Drive for Education competition, which will provide $50,000 in cash grants in recognition of the automaker's 21st year of working with Minnesota high school students. Basically, Toyota will help pick 14 high schools […] [Read More]