Black Book reported that the wholesale market sales rate now is estimated to be at the lowest level since the beginning of the year. And TrueCar is expecting another slowdown of used-vehicle retail sales, too. On Tuesday, TrueCar projected that used-vehicle sales for August would be .. [Read More]

The busy summer of expansions by IAA continued on Tuesday, as the company opened a new facility in the Northeast. IAA announced the opening of its “state-of-the-art” IAA Port Murray branch in New Jersey. As its sixth branch in the Garden State, the company said the Port Murray facility increases IAA’s capacity by more than […] [Read More]

For just the second time this year, Black Book reported the estimated average weekly sales rate dropped to 60%. Last week’s reading matched the low point of the year that analysts also spotted during the week that actually closed on … [Read More]

Mercedes-Benz Canada will have a new president and chief executive officer on Oct. 1. Succeeding Eva Wiese will be Andreas Tetzloff, who has headed up Mercedes-Benz Russia since March. Wiese will become managing director of Mercedes-Bez Customer Solutions GmbH. “On behalf of Mercedes-Benz Group AG and Mercedes-Benz Cars North America, I would like to express […] [Read More]

Shopping for a vehicle comes with all kinds of stressors for a consumer — some of which can affect their relationship with the dealer and lender. The decision to require a shopper to undergo a credit verification can be stressful for many consumers — for different reasons Some consumers are worried about the score that […] [Read More]

Although he is president-elect of the National Auto Auction Association and is president of Southern Auto Auction, Eastern Powersports Auction, and SAFS Inc., Garrison Hudkins thinks of himself in more simple terms. “People say, ‘What’s your background?’, and I have a very simple answer: I’m the husband of Carolyn, the father of Campbell and Connor, […] [Read More]

America’s Auto Auction said Monday it has expanded its national dealer and commercial sales team, hiring Bill Broadway and Johanna Studzinski. Broadway, who has been in the auto auction industry for 13 years, said in a news release: “I am honored for the opportunity and am excited to be in this new role. I look […] [Read More]

CarSaver made another inroad into the credit union market this week, landing a relationship with one of the largest credit unions in the United States that has $8.8 billion in assets and more than 420,000 members. CarSaver announced the latest credit union now using its automotive e-commerce marketplace and fintech platform is Long Island-based Teachers […] [Read More]

Likely curtailed by the lack of inventory and escalating prices, Experian reported this week that leasing decreased to 19.65% of new vehicles delivered during the second quarter, down from 27.82% in Q2 of last year. Despite the overall softening, Experian’s State of the Automotive Finance Market Report: Q2 2022 still contained more intriguing data about […] [Read More]

This week, new American Recovery Association executive director Joel Kennedy shared a development meant to benefit not just organization members, but potentially any repossession agent, too. In an industry letter, Kennedy said “several” of the largest auto finance companies in the industry have agreed to allow the agents to choose what compliance training program works […] [Read More]