DETROIT — For just the third time in the 17-year history of the program, a single automaker has swept the North American Car and Truck of the Year awards. Taking home top honors in both the car and truck categories was Ford, whose Fusion Hybrid was named the 2010 North American Car of the Year and Transit […] [Read More]

FRANKLIN, Tenn. — The ServNet Auction Group recently announced that Auto Auction of New England is its newest member. According to Bob McConkey, ServNet's chairman of the board, "ServNet's owners and board of directors are very pleased to welcome Auto Auction of New England. The DeLuca family and general manager Dave Blake are well-regarded in the […] [Read More]

PALO ALTO, Calif. — A new interactive auto shopping guide was launched this week and can help connect the auto industry with one the nation's largest and most passionate base of sports fans. NASCAR.com, the official site of NASCAR, has teamed up with auto digital media content provider High Gear Media and AutoTrader.com to launch NASCAR […] [Read More]

AUBURN HILLS, Mich. — Chrysler announced Monday that it is unveiling new corporate phone numbers for customer service. What makes these new lines so special? Each one is brand dedicated. Company officials gave the credit for this new idea to Fiat, from whom they adopted it. More specifically, nameplate executives described the reason for the new strategy […] [Read More]

DALLAS — Chacon Autos is leaning on more than 50 years of experience to navigate through some of the most difficult conditions ever seen in the buy-here, pay-here dealership industry. Co-owner Gary Chaney stressed that utilizing online auctions more this year is going to be crucial to finding vehicles to fill inventories at his five Dallas-Ft. […] [Read More]

FARMINGTON HILLS, Mich. — After announcing that Klaus Entenmann has become chairman of Daimler Financial Services AG in Berlin, the company named a replacement who will head up the company's Americas division, in addition to other moves. Franz Reiner, the former head of Mercedes-Benz Financial USA, has been tapped as president and CEO of Daimler Financial Services, responsible […] [Read More]

WASHINGTON, D.C. — The latest data available from the Federal Reserve reveals that the average interest rate on 48-month new-car loans at commercial banks for November was the lowest figure on record. For November, this number came in at 6.55 percent. While the figure was not available for October or September, the average APR was 6.61 […] [Read More]

WASHINGTON, D.C. — The American Bankers Association recently discovered that delinquencies for both direct and indirect auto loans dropped from the previous quarter. ABA found that direct auto loan delinquencies fell nearly half a point to 2.04 percent from 2.46 percent. Meanwhile, indirect delinquencies dropped to 3.15 percent from 3.26 percent. "It's always a good sign […] [Read More]

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]