Latest OnLine Editon  Read Here

Tuesday, 26 September 2017 00:29

Recon Firm Adds Overseas Operation

International Vehicles Services and Trim Perfect will be operating together at the City Auction Group Rockingham facility near Corby, in the United Kingdom beginning Oct. 2.
IVS and Trim Perfect are the newest division of CARS Recon, Inc., which has been working in partnership with the wholesale auto auction industry in the United States for more than 14 years.
IVS and Trim Perfect will provide valeting, inspections, imaging of units, mechanical health checks, and general operations of the auction so that the auction staff can work for their clients on sales and marketing. Trim Perfect will be offering all trim repairs along with headlight restoration, PDR, chip repairs; they will offer wheel repairs in the near future.

Published in News Now
Tuesday, 26 September 2017 00:29

Autotrader Launches Major Ad Campaign

Autotrader has launched its new "Shop All The Cars" integrated national marketing campaign.
Developed with independent advertising agency Zambezi, the new Autotrader marketing campaign’s anchor creative execution is a 30-second TV spot – "Shop All The Cars"– which features a visceral mash-up of faux ads for a variety of cars. Following a fast-paced video compilation of the most popular and essential automotive features on car shoppers’ consideration lists, the spot concludes with the step-up line, "If you can’t find your next car here, you won’t find it anywhere."
Targeting key demographic groups, such as millennials, Hispanics and families, Autotrader's "Shop All The Cars" campaign will be supported across a variety of broadcast, digital, print and out-of-home (OOH) media elements. The broadcast spots, including "Shop All the Cars" and two other TV commercials that will be released at a later date, will appear during morning, prime time and late night programming, as well as NBA on TNT and across the networks of NBCUniversal.
In addition, Autotrader will partner with NBCUniversal and Andy Cohen on a custom spot that will run on select NBCUniversal networks. To further target Hispanic consumers, the brand also has integrations planned with Telemundo's morning show "Un Nuevo Día," and the network's sports programming.
Digitally, the campaign features interactive Facebook Canvas ads in endless swipeable video loops, pre-roll spots on Hulu, homepage takeovers, custom partnerships and digital banners. Outdoor executions will roll out at launch, including static and animated billboards in Los Angeles, Atlanta, Miami and New York's Times Square.

Published in News Now
Thursday, 21 September 2017 18:59

Auto Loan Defaults Rise

Auto loan defaults increased to 0.95 percent in August, from 0.86 percent in July.
This is the second consecutive monthly increase.
Overall, the S&P Dow Jones Indices and Experian increased to 0.86 percent in August.
The only index to decline was bankcard defaults, which dropped to its lowest level since December 2016.
Three of the five major cities saw their default rates increase.

Published in Latest News
Wednesday, 20 September 2017 22:06

KAR Unveils Plans for New HQ

KAR Auction Services Inc. announced the development of a new Carmel, Ind.-based corporate headquarters and campus.
The 13-acre site will host a new, 250,000-square-foot office building featuring an open floor plan and broad collaborative workspaces. Nearly 1,600 of KAR’s 17,400 employees are located in Indiana, and the new location provides space for an additional 400 jobs.
KAR’s new $80-million headquarters and campus will house the company’s innovation, technology, data and service divisions and serve as the U.S. headquarters for TradeRev, KAR’s mobile app-based auction subsidiary.

Published in Latest News
Wednesday, 20 September 2017 22:06

BSC America Opens Doors at New Auction

BSC America opened the doors to its new Bel Air Auto Auction facility in the Riverside Business Park in Belcamp, Md., on Sept. 14.
Harford County Executive Barry Glassman, along with several other county and elected officials, joined the Nichols family in front of the lanes where a formal ribbon cutting event preceded the first auction at BSC's new facility, where cutting edge technology will provide the support to its substantially expanded 10-bay auction building. On the preceding evening, the Nichols family hosted a special customer preview and event to commemorate this milestone in the Bel Air Auto Auction's 70-year history. Bel Air Auto Auction welcomed its customers to the first regular sale at the new facility, with a complimentary breakfast, followed by the ribbon-cutting ceremony.
Owner Ray Nichols sold the first car to cross the block.  Bel Air Auto Auction Vice President Michelle Nichols-Neff capped that sale by announcing that the auction would make a donation to the Hurricane Relief Funds in an amount equal to the sales price of the first car across the new block.

Published in Latest News
Tuesday, 19 September 2017 23:48

Edmunds Offers AR Option

Edmunds announced an augmented reality (AR) feature that will help consumers visualize and determine whether different vehicles will fit in their garages, parking spaces and driveways.
This new capability will be available on the Edmunds app for iPhone. Specifications of nearly all U.S. vehicles from 1990 to present will be supported.
This new feature was developed by Edmunds on the Apple ARKit. The feature will be available alongside editorial reviews, photos and videos in the Edmunds app for iOS 11.
The feature leverages depth-sensing, area learning and motion-tracking technology to scan a local environment and create a 3D mesh of an environment. This 3D mesh is used with ARKit to determine if the 3D model of a vehicle can fit within that environment.
Shoppers use the phone's camera to scan a garage or parking space and then overlays a 3D model representative of the selected vehicle into the image. For driveways and other areas without walls, users will be able to create "virtual walls" in order to provide the same functionality.
Once an area is learned, the user can cycle through different vehicles to see which ones may safely fit.

Published in Auctions
Tuesday, 19 September 2017 23:48

AFC Partners with TradeRev for Promotion

Automotive Finance Corp. announced a promotion aimed at encouraging dealers to "go digital."
The promotion allows dealers to pay no AFC floor plan financing fees and zero percent interest for 45 days on any vehicles bought and sold on TradeRev. TradeRev offers live, one-hour digital auctions.
The TradeRev – AFC promotion runs until Dec. 31.

Published in Tech News
Monday, 18 September 2017 22:27

GWC Warranty Adopts Classroom

GWC Warranty recently adopted the 6th grade classroom of Colleen Franchi at Wilkes-Barre's Dodson Elementary School.
In adopting Mrs. Franchi's class, GWC employees banded together to make monetary donations and collect school supplies for the class of 56 students. GWC Warranty also provided a 100-percent match of employees' donations.
All the donations combined to meet Mrs. Franchi's goal of supplying her class of many underprivileged children with the notebooks, folders, pencils, backpacks and more that they will need throughout the school year.

Published in Finance
Monday, 18 September 2017 22:27

Manheim Debuts Mobile Auction

Manheim celebrated the grand opening of Manheim Wilmington on Sept. 15. Manheim's mobile auction presence in Wilmington, S.C., is one of the company's longest tenured.
With two lanes equipped for in-lane and online auction capabilities, Manheim Wilmington also offers inspections, enhanced imaging, OVE, financing options through NextGear Capital and all other floor plan companies, as well as assurance packages through DealShield.

Published in Auctions
Sunday, 17 September 2017 12:56

Santander Aids Hurricane-Stricken Clients

Santander US announced that the company and its businesses have taken immediate steps to assist customers affected by Hurricane Irma.
 As it does when there is a FEMA-designated emergency, Santander US has activated assistance programs to help affected customers living in disaster zip codes identified by FEMA. The company has also pledged a total of $100,000 to local aid relief organizations divided between the Miami Foundation, Habitat for Humanity Puerto Rico and the American Red Cross chapter in Puerto Rico. Santander is also matching employee contributions to non-profit organizations aiding in the recovery efforts.
Santander US's Dallas-based auto finance company, Santander Consumer USA Holdings Inc., has suspended loan collection and automotive repossession activities in the affected areas, and is offering temporary loan assistance to customers in the form of loan modifications and suspended late fees. 
As of Sept. 12, the 16 FEMA-designated affected areas account for approximately five percent of SC's active retail and lease loan balance. That number is subject to increase as FEMA continues to assess damage in the wake of the storm. SC's portfolio of repossessed vehicles in the hurricane-affected area is still being assessed. At this time, SC has confirmed that vehicles at half of its auction vendors have not incurred material damage.
Likewise, Santander Bank is offering immediate assistance to its retail; small business and commercial customers to include temporarily reduced interest rates, temporarily suspended late fees, loan modifications and the suspension of collection calls and auto repossessions.

Published in Finance
Page 1 of 13