Manheim didn’t hesitate when compiling this year’s Used Car Market Report to emphasize what it believes is the more important element to remarketing repossessions. The auction company insisted days-to-sale remains the key focus. Manheim explained that even though wholesale used-vehicle pricing was exceptionally strong in 2009 and 2010 — meaning that used units were depreciating […] [Read More]

While again mentioning strides toward securing regulatory approval to acquire Dollar Thrifty Auto Group, Avis Budget Group reported 2010 gains in revenue and all segments of adjusted EBITDA. Avis shared this week that its full-year revenue came in at $5.2 billion, an increase of 1 percent compared with 2009. Excluding certain items, the company determined […] [Read More]

The National Independent Automobile Dealers Association announced recently that two companies have signed on as new partners. Recently joining NIADA are Portfolio General Management Group and First Extended/Resource Automotive. Together these companies will offer profits solutions for NIADA dealers selling vehicle service contracts and other ownership protection products like GAP, anti-theft and appearance protection. [Read More]

Though down from December — typically a lease-heavy month — the leasing industry started 2011 by again cracking the 20-percent penetration mark, according to data provided in the most recent Industry Health Review from J.D. Power and Associates. Specifically, lease penetration was a 20.2 percent in January, compared with 19.2 percent a year ago. However, leasing […] [Read More]

GWC Warranty said Tuesday that it has added another state to its network. The company now offers vehicle service options in Florida. The latest addition means GWC now provides its services in 38 states on the U.S. mainland. Just last month, GWC revealed that it had hired Brandon Johns to serve as Southeastern United States […] [Read More]

Among the dozen sessions spread over three days during next month’s CAR Conference, one segment is specifically tailored to bring together a panel of credit union remarketers who will discuss daily collection challenges facing credit unions. The session titled “Repossession Challenges and Solutions” is set to include: —Joel Bowen, of CalTech Employees Federal Credit Union. […] [Read More]

Both Equifax and TransUnion recently rolled out new solutions aimed at helping collection agents get better estimations of potential recovery amounts from delinquent debtors. Both companies launched these new tools during the recent Debt Buyers Association Conference held earlier this month in Las Vegas. TransUnion Believes Two New Products Deliver Strong Results TransUnion revealed two new recovery models — […] [Read More]

Ford announced actions late last week that it says will allow the automaker to cut close to $3 billion away from its debt. Specifically, Ford revealed that it will redeem the entire the $2.98 billion aggregate principal amount outstanding of its 6.50 percent Junior Subordinated Convertible Debentures held by Ford Motor Co. Capital Trust II […] [Read More]

Summit Resources is now providing dealers with a free version of its LoyaltyCash online rewards program, a tool it believes can drive more repeat customers at dealerships. LoyaltyCash allows dealers to reward customers who come back to the store to make transactions, thus giving dealers another strong selling point. [Read More]

With Honda Canada Finance vice president David Sudbury set to retire in less than a month, the longtime Honda executive talked with Auto Remarketing Canada this week to share some of the highlights of his career and how the Canadian remarketing and auto finance fields have evolved during his 29-year Honda tenure, which ends March 1. Among other topics, […] [Read More]