DealerTrack: 1Q Net Income Up 66 Percent

LAKE SUCCESS, N.Y. — DealerTrack announced its net income for the first quarter reached $3.4 million, up 66 percent from $2.1 million posted in the same period of 2005. Company executives highlighted the fact that their transaction volume in the subprime area was particularly strong. Executives noted that their net income... Read More

CarMax Names Folliard President, CEO

RICHMOND, Va. -- CarMax announced that Thomas Folliard, current executive vice president of store operations, has been elected president, chief executive officer and member of the board of directors. Folliard succeeds Austin Ligon, who is retiring. Executives said Folliard, 41, was a key part of the team that developed and... Read More

AmeriCredit Resumes Auto Lending in Canada

FORT WORTH, Texas -- AmeriCredit announced it has funded its first Canadian auto loan and is working to re-establish itself as a competitor in the Canadian auto-lending market. In order to renew its lending business in the country, AmeriCredit said it established a new office for AmeriCredit Financial Services of Canada in... Read More

AmeriCredit Recognizes Top Performing Auctions

FORT WORTH, Texas (June 16, 2006) -- AmeriCredit Corp. recently announced the recipients of its Auction of Excellence program for the first quarter. Winners include: Midwest: ADESA's Des Moines Auto Auction in Grimes, Iowa Northeast: Harrisburg Auto Auction in Mechanicsburg, Pa. Southeast: Manheim's Greater Tampa Bay... Read More

HANOVER, Md. (June 16, 2006) -- More than 300 attendees, sponsors and exhibitors recently turned out for the National Automotive Finance Association's 10th Annual Non-Prime Auto Finance Conference in Fort Worth, Texas. In his opening remarks, NAF Association Chairman John Scordo, of Centrix Financial, highlighted the fact... Read More

Car-Mart Announces New Store Opening

BENTONVILLE, Ark. (June 15, 2006) -- America's Car-Mart recently announced the opening of its newest dealership in Sedalia, Mo. This new location marks the second dealership opening since the company's current fiscal year began on May 1. The company also said it has relocated and expanded its existing Lawton, Okla.,... Read More

LAS VEGAS (June 14, 2006) -- Hundreds of independent dealers, vendors and industry executives were on hand during last week's National Independent Automobile Dealers Association's Annual Convention and Expo in Las Vegas to see dealer Tracy Myers, of Winston-Salem, N.C., named the 2006 National Quality Dealer. Despite... Read More

ATLANTA (June 13, 2006) -- In addition to other announcements, Manheim said subscribers to POINT now have access to N.A.D.A. Official Used Car Guide Co.'s values, along with valuations already provided by Manheim Market Report and Edmunds True Market Value. "This popular guide from N.A.D.A. provides one of the most... Read More