October 2020

ABCoA launches next installment of browser-based platform

JACKSONVILLE, Fla. –  A web browser is the gateway to so many business and personal activities nowadays. And ABCoA wanted to make sure its latest tool for dealerships and subprime finance companies can be utilized through that technology path. During its recent 2020 User Conference and Deal Pack Boot Camp, ABCoA unveiled its newest dealership and lender management software to more than 900 attendees: Deal Pack Web. The company highlighted Deal Pack Web is web-based dealership and lender management software that can be accessed using any modern browser. It is hosted… Read More »ABCoA launches next installment of browser-based platform

AutoNation, top drivers, race to fight cancer

FORT LAUDERDALE, Fla. –  Marco Andretti says race car drivers often face challenges. But that is nothing compared to the challenges of those fighting cancer. “We support all the cancer survivors and those who are fighting right now,” said Andretti, a two-time NTT INDYCAR SERIES race winner, in a news release. AutoNation said Andretti and two other NTT INDYCAR SERIES drivers helped AutoNation support its Drive Pink initiative, or DRV PNK, and kick-off Breast Cancer Awareness Month. Andretti, along with 2016 Indianapolis 500 winner Alexander Rossi and 2019 INDYCAR Grand Prix podium finisher… Read More »AutoNation, top drivers, race to fight cancer

Jim Ellis group works to help Atlanta beat COVID

ATLANTA –  Atlanta Beats Covid, or ABC, includes volunteer makers, engineers, fabricators, seamsters, and other “Southeast industry experts.” That group works to provide healthcare providers and other Atlanta community members with the necessary personal protective equipment, or PPE, that they need to stay safe while fighting COVID-19. From Aug. 31 to Sept. 7, Jim Ellis Automotive Group in Atlanta led a group-wide Labor Day Sales Event event with a portion of the new and pre-owned vehicle sales proceeds going toward ABC. The event resulted in a collective donation of $35,000 to… Read More »Jim Ellis group works to help Atlanta beat COVID

October begins with more activity in dealership M&A space

CARY, N.C. –  More news continues to arrive on the M&A side of retail automotive, including some recent moves in two of the nation’s largest metropolitan areas.   Starting in the Midwest, Minneapolis-area retailer Walser Automotive Group announced Friday it has expanded its presence to the Chicagoland area with the purchase of Countryside, Ill., dealership Continental Nissan. The acquisition closed Thursday and is the group’s second of the year. In May, Walser Automotive Group purchased Hello Auto Group, a three-store group in Santa Clarita, Calif. “Continental Nissan and the Continental Automotive… Read More »October begins with more activity in dealership M&A space

Former TrueCar exec joins SureSale

LOS ANGELES –  Former TrueCar vice president of product Michael Rose has joined used-vehicle platform SureSale as vice president of product development, starting with the company as it focuses on expanding the platform to help dealerships validate more of their used-vehicle inventory. SureSale describes Rose as a “veteran automotive product innovator,” and the company’s co-founder and president Jeffrey Schwartz said in a news release that Rose has been “on the digital frontlines since the first vehicle image was posted on a website.” “No one knows or understands the automotive digital space… Read More »Former TrueCar exec joins SureSale

16 additional Manheim auctions resume in-lane bidding via Digital Block

CARY, N.C. –  More than 70 Manheim locations have now returned to in-lane bidding via Digital Block sales, as more than a dozen have been added back in the past two weeks. That includes four resuming in-lane sales this week: Manheim Georgia, Manheim Atlanta, Manheim New Mexico and Manheim Birmingham. In the past two weeks, these auctions have also resumed in-lane sales via Digital Block: Manheim Phoenix, Manheim Detroit, Manheim Flint, Manheim Baltimore-Washington, Manheim Fort Lauderdale, Manheim Fredericksburg, Manheim New York, Manheim Orlando, Manheim Palm Beach, Manheim St. Pete, Manheim Tampa… Read More »16 additional Manheim auctions resume in-lane bidding via Digital Block

16 additional Manheim resume in-lane bidding via Digital Block

More than 70 Manheim locations have now returned to in-lane bidding via Digital Block sales, as more than a dozen have been added back in the past two weeks. That includes four resuming in-lane sales this week: Manheim Georgia, Manheim Atlanta, Manheim New Mexico and Manheim Birmingham. In the past two weeks, these auctions have also resumed in-lane sales via Digital Block: Manheim Phoenix, Manheim Detroit, Manheim Flint, Manheim Baltimore-Washington, Manheim Fort Lauderdale, Manheim Fredericksburg, Manheim New York, Manheim Orlando, Manheim Palm Beach, Manheim St. Pete, Manheim Tampa and Manheim… Read More »16 additional Manheim resume in-lane bidding via Digital Block

Axis Auto Finance sets 3 records during 2020 fiscal year

Monday, Oct. 05, 2020, 11:23 AM TORONTO –  Despite the obstacles created by the coronavirus pandemic, Axis Auto Finance recently reported that it set a new record for originations and two other metrics during its 2020 fiscal year that closed on June 30. The publicly traded subprime automotive finance company said its originations for the 2020 fiscal year came in at $78.7 million, up from $67.2 million booked during the previous fiscal year. Fueled by the origination growth, Axis reported that its portfolio balance established a new record, closing the fiscal… Read More »Axis Auto Finance sets 3 records during 2020 fiscal year

GM Financial honors 5 auctions through annual award program

FORT WORTH, Texas –  Along with donating 150,000 masks to three of the largest public school districts in Texas, GM Financial recently named five regional 2019 Auction of the Year winners and the recipient of the Most Valuable Auction of the Year Award. These accolades are part of GM Financial’s annual nationwide Auction of Excellence program, recognizing the highest-performing auction locations in 2019. The Regional Auction of the Year winners included: ADESA Dallas, Hutchins, Texas ADESA Kansas City, Belton, Mo. Manheim Denver, Aurora, Colo. Manheim Pennsylvania, Manheim, Pa. Manheim Mississippi, Hattiesburg,… Read More »GM Financial honors 5 auctions through annual award program

Those full-size pickups keep wholesale prices climbing

Monday, Oct. 05, 2020, 11:18 AM LAWRENCEVILLE, Ga. –  Full-size pickups are built for hauling capability, and these particular vehicles certainly are carrying wholesale prices higher. Referenced by KAR Global chief economist Tom Kontos, as well, Black Book senior vice president data science Alex Yurchenko described what full-size pickups did to wholesale prices as Black Book shared its Used Vehicle Retention Index for September. According to the newest reading released on Monday, the index rose 1.8 percentage points from August to September to land at 130.8. “Overall, the Index increased slightly… Read More »Those full-size pickups keep wholesale prices climbing