City Enterprises, parent entity of City Auto and Dealers Auto Auction, along with Phil Hanks, former president of Primeritus Financial Services, created a joint collaboration resulting in the formation of Connect 1 Recovery, a full service collateral recovery company. Connect 1 Recovery is headquartered in Nashville, Tenn., and operates in Maryland, Tennessee, Georgia, Texas and […] [Read More]

Polk recognized four employees on Monday for their commitment and contributions within the global automotive market intelligence company and appointed them to new roles within the organization. Among the developments, Marc Bland, diversity and inclusion; Theresa Gorman, sales and client services for the Eastern region; and Anthony Pratt, forecasting for the Americas, have been promoted […] [Read More]

More evidence of just how long in the tooth the fleet of vehicles in operation is nowadays arrived through a new AutoMD.com survey, showing how much service work might be in the market. The site broke down its survey results by categorizing DIYers (do it yourselfers) and DFMers (do it for me’s).  Among DIYers, 44 […] [Read More]

Planning on attending the Used Car Week 2013 conferences? Attendees are in for a treat, as the Used Car Week Golf Outing will be held this year at Torrey Pines'  highly acclaimed South Course. Located in La Jolla, Calif., Torrey Pines Golf Course (http://www.torreypinesgolfcourse.com/_tpgallery/about.htm) sits on the coastal cliffs overlooking the Pacific Ocean. The golfing […] [Read More]

DriveTime Automotive Group is one example of how much the subprime auto finance market has bounced back since the deepest point of the last recession. The company often caters to deep subprime customers as buyers attached to contracts with a rating of A+ had an average credit score of 556, according to its 2012 annual […] [Read More]

Three members of Lithia Motors' management team all voiced strong opinions about the Consumer Financial Protection Bureau's recent guidance on indirect auto lending and dealers' role in retail vehicle sales. All three reiterated not only their own processes but how the dealer body as a whole works with lenders to originate loans to help buyers […] [Read More]

The Securities and Exchange Commission on Thursday charged Capital One and two senior executives for understating millions of dollars in auto loan losses incurred during the months leading into the financial crisis. Officials said an SEC investigation found that in financial reporting for the second and third quarters of 2007, Capital One failed to properly […] [Read More]

In the six years since Automobile Protection Corp.’s management team and Stone Point Capital came together to buy APCO back from Ford Motor Co., APCO has been searching for the right acquisition to complement its business. It found that ideal partner in GWC Warranty Corp., says Larry Dorfman, the chairman and chief executive officer of […] [Read More]

As the 2013 Auto Remarketing Canada conference, presented by CarProof, was wrapping up this past Tuesday evening, positive testimonials and feedback were already rolling in from the record 586 attendees that headed to the Fairmont Royal York in Toronto.  Over half of these attendees were dealers, with the remaining number including representatives from almost every […] [Read More]

When it comes to vehicle condition, “average” may suit many used-car shoppers just fine — and it appears that dealers have taken notice. Black Book has found that demand for average condition vehicles has climbed in the auction lanes as compared to clean condition vehicles. In fact, Black Book’s Ricky Beggs said in the analysis […] [Read More]