While the upswing in 2024 isn’t likely to be as strong as last year’s, the wholesale vehicle market is showing a gradual rebound in volumes and has started the year with some impressive gains. At the Manheim auto auction chain, wholesale sales climbed in 11 of the first 13 weeks of the year and were up 15% year-over-year in the first quarter, said Jeremy Robb, senior director of economic and industry insights at parent company Cox Automotive. Year-to-date through February, there were ... [Read More]

It continues to be a celebratory atmosphere in the auction world. While BSC America’s Bel Air Auto Auction recently commemorated its 77th anniversary, the National Auto Auction Association is gearing up for this year’s World Automobile Auctioneers Championship (WAAC). What NAAA considers the premier competition in the auto auctioneer industry is set to take place […] [Read More]

CarMax is reducing the timeline on its money-back guarantee policy from 30 days to 10 days, starting May 12, the used-car retailer said in a statement. The guarantee had been seven days, but CarMax extended it to 30 in January 2021, amid COVID-19 as “buying behaviors changed and consumers were spending more time online and […] [Read More]

Four forthcoming repossession agents shared a variety of personal and professional anecdotes last week during the North American Repossessors Summit in Orlando, Fla. The session titled “What I Wish I’d Known … A Cautionary Tale for Small, Medium, & Large Recovery Companies” included: —Ray Franklin of National Locating & Recovery, Inc. —Matt Freeman of Professional […] [Read More]

American Recovery Association president Vaughn Clemmons addressed the record gathering for last week’s North American Repossessors Summit, sharing his “unfiltered beliefs on the state of our recovery industry.” Clemmons described the challenges and opportunities the industry has, asking for a “call for collaboration,” involving agents, finance companies, forwarders and other service providers that might touch […] [Read More]

This week, APCO Holdings announced it has merged two of its brands — EasyCare and National Auto Care — into a unified F&I “force” under the EasyCare brand. The merger follows the acquisition of National Auto Care last January. With a combined legacy spanning more than 40 years, APCO highlighted the brands are recognized for […] [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now. As technology continually reshapes the automotive industry, the evolution of inspections and condition reports stands out as a pivotal chapter.  With artificial intelligence taking the wheel, there is a transformative shift in how both consumers and auto dealers navigate the often complex and sometimes opaque world of vehicle inspections. Gone are the days of relying solely on [Read More]

Another state and federal tax filing season closed this week unless consumers asked for an extension. According to the latest data from the IRS, the average refund came in at just above $3,000, which could be great for buy-here, pay-here operators who are looking to turn vehicles or work with customers who might be a […] [Read More]

“Approved this message” is likely a phrase we’ll all see, hear and read often for the foreseeable future since it’s an election year. The message EFG Companies looked to reinforce to retail automotive and powersports dealers and finance companies was to focus on the overall strength of the economy and revenue generation opportunities even while […] [Read More]

Signal Technologies, which specializes in the Canada-to-U.S. used-vehicle import market, has named former Toyota, Edmunds and Roadster executive Amit Chandarana as its chief commercial officer. In conjunction with this hiring, Signal has opened a Los Angeles-based office. Chandarana was most recently with LeadVenture, where he led OEM partnerships. His background also includes time with Everrati […] [Read More]