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Fiserv Inc. named Manheim Louisville of Clarksville, Ind., the top performing automobile auction of 2016. Manheim Louisville was a strong performer throughout the year, both in terms of sales effectiveness and operations.

Fiserv, which has been ranking auctions since 2001 to identify qualified partners, managed the remarketing of more than 85,000 vehicles in 2016. The top three auctions are scored on overall sales effectiveness, operational excellence, sales preparation and marketing in the calendar year.

Carolina Auto Auction, of Anderson, S.C. – winner of the National Quality Award for the past three consecutive years – ranked second. ADESA Birmingham was ranked third overall for 2016.

Fiserv also recognized auctions for excellence in the following areas:

  • Carolina Auto Auction – Operational Excellence

  • Manheim Louisville – Customer Service

  • Rawls Auto Auction, based in Leesville, S.C. – Sale Preparation

  • Manheim Louisville – Marketing

To be eligible for the Top Performance designation, an auction must be a member of the National Auto Auction Association, have sold vehicles with Fiserv for 12 months or more, have a minimum of eight represented sale audits in the calendar year, and have sold more than 500 vehicles in the calendar year.

 

Thursday, 22 June 2017 19:12

Kia Tops J.D. Power Quality Study

New-vehicle quality is at its highest level ever, improving a significant 8% from last year, according to the J.D. Power 2017 U.S. Initial Quality Study.

Initial quality in this iconic study is measured by the number of problems experienced per 100 vehicles (PP100) during the first 90 days of ownership, with a lower score reflecting higher quality. In this year's study, quality improves across seven of the eight categories measured, with 27 of the 33 brands in the study improving their quality compared with 2016.

Kia ranks highest in overall initial quality for a second consecutive year with a score of 72 PP100.

Genesis (77 PP100) ranks second overall followed by Porsche (78 PP100). Ford and Ram (86 PP100) tie for fourth.

 

Thursday, 22 June 2017 19:11

FTC Announces Connected Car Agenda

The Federal Trade Commission has announced the final agenda for its June 28 workshop to examine the consumer privacy and security issues posed by automated and connected cars.

FTC Acting Chairman Maureen K. Ohlhausen will deliver opening remarks at the daylong workshop. The event will bring together a variety of stakeholders, including industry representatives, consumer advocates, academics, and government officials, to discuss privacy and security issues related to connected and automated vehicles.

The workshop will feature panel discussions on the types of data connected cars will generate, collect and share; cybersecurity challenges; the privacy implications of connected cars; and potential role of government agencies.

The workshop, which is free and open to the public, will be held at the Constitution Center, 400 7th St., SW, Washington, DC 20024. The conference will be webcast live.

 

 

Toyota Financial Services (TFS) has been named one of the most community-minded companies in the nation by Points of Light Foundation. 

This is the third consecutive year that TFS earned a spot on the nonprofit's Civic 50 list, the latest recognition the company has received for its initiatives and its dedication to supporting and empowering communities. 

The Civic 50 sets the standard for corporate community engagement nationwide, and creates a roadmap for companies seeking to best use their time, talent, and resources to improve the quality of life in the communities where they do business. Winners are selected based on four dimensions of their national community engagement programs: Integration, Investment, Impact, and Institutionalization.

TFS earned this recognition through its unwavering commitment to youth development and successful initiatives such as the Making Life Easier Financial Empowerment program, the Road to Success program (partnering with Scholarship America to fully fund college scholarships to underserved students, based on financial need and community), strong partnerships with Girl Scouts and Boys & Girls Clubs, and its Community Ambassador program, which promotes employee engagement within the community.

 

Wednesday, 21 June 2017 21:16

CarMax Reports Double-Digit Growth

CarMax, Inc. reported results for the latest quarter ended May 31.
Net sales and operating revenues increased 10.1 percent to $4.54 billion.
Used unit sales in comparable stores increased 8.2 percent. Total used unit sales rose 14.1 percent.
Total wholesale unit sales were flat versus the prior year’s first quarter.
CarMax Auto Finance (CAF) income increased 8.5 percent to $109.4 million.
Net earnings increased 20.7 percent to $211.7 million.
 

 
 
Wednesday, 21 June 2017 21:16

NIADA Honors Attorney

Attorney Tom Hudson of Hudson Cook LLC has been selected as the newest member of the National Independent Automobile Dealers Association’s Ring of Honor.
Hudson became the 29th auto industry leader to be inducted into the Ring of Honor, NIADA’s highest award for non-dealers.
NIADA’s Ring of Honor recognizes allied industry leaders who have contributed to the professionalism and growth of the automobile industry through outstanding performance and leadership.
Hudson's career spans more than four decades, from a start-up law practice in 1973 to becoming a founding partner of a firm, a CEO and editor of a service that reports on legal issues in the auto finance and lease industry, among other roles.
As an author, he's written the Carlaw series and other books as well as numerous articles and as editor in chief of Counselor Library.

 
 
Wednesday, 21 June 2017 21:16

Dealertrack Readies New HQ

Dealertrack will soon open its new headquarters in the Village of North Hills on New York’s Long Island.
The 230,000-square-foot facility will be home to nearly 600 team members with capacity to continue growing. Team members will begin occupying the building in early July.
The 10-acre LEED-specified headquarters features indoor basketball and volleyball courts, a cafe, cardio room and yoga studio, indoor and outdoor dining areas, game rooms and a walking trail.
 

 
 
Tuesday, 20 June 2017 20:39

Porsche Recalls Vehicles for Stalling

Porsche Cars North America, Inc. is recalling 17,986 2010-12 Panamera S, Panamera 4S and Panamera Turbo vehicles; 2011-12 Panamera and Panamera 4 vehicles; and 2011 Cayenne S and Cayenne Turbo vehicles.
The affected vehicles have camshaft controllers that may come loose inside the engine, potentially resulting in an engine stall.
Porsche will notify owners, and dealers will replace the fastening screws for the camshaft adjusters, free of charge. The manufacturer has not yet provided a notification schedule.
Porsche’s number for this recall is AH08.

 
Tuesday, 20 June 2017 20:39

Auction Raises Money for Cancer Research

Carolina Auto Auction hosted its 12th Annual Golf Tournament on May 16, raising over $15,000 for melanoma cancer research at The Winship Cancer Institute of Emory University. This is the first year Carolina has tied the event to charity, and the event grew to include the attendance of a number of celebrities, the largest sponsorship base they've ever had, and 110 golfers.
The event was held at The Walker Course at Clemson University.
In conjunction with the tournament, Carolina Auto Auction hosted a silent charity auction after the tournament, and a live auction the following morning before its weekly sale.

 
 
Tuesday, 20 June 2017 20:39

Auto Loan Defaults Decline

Auto loan defaults continue to decline, according to the S&P/Experian Consumer Credit Default Indices.
The auto loan defaults index for May stood at 0.85. That is down from 0.9 in April and 0.92 in May 2016.
Four of the five major cities saw their default rates decrease in May.  Chicago
was the only city reporting a default rate increase.
 
 
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