CitiFinancial Pays $907K to Settle Military Repo Charges

CitiFinancial Credit Company has agreed to pay $907,000 to resolve allegations that it violated the Servicemembers Civil Relief Act (SCRA) by repossessing 164 cars without first obtaining the required court orders.

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Dealers More Optimistic About Used Car Market vs. New

Franchise dealers now view the used car market more optimistically than the new vehicle market, according to a new sentiment index from Cox Automotive. The finding speaks to the current shift of car buyers with prime and subprime credit toward the used market.

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Autotrader Names Top CPO Programs for September

Autotrader has named its top eight certified pre-owned (CPO) programs for September.

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Insurance Consignment Drives Copart's Record Quarter

Continued consignment growth from insurance and non-insurance business contributed to a strong fourth quarter for Copart.

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CarLotz Raises $30M in Funding

The funding, provided by TRP Capital, will help the company expand retail locations that serve corporate fleet customers including fleet management companies.

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Fleet Lease Consignor Prices Climb Higher

Fleet lease consignor prices moved higher in August, increasing 1.4% over July and 2.3% through the first eight months of the year compared with 2016, according to the Sept. 20 Kontos Kommentary.

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ADESA's KAR to Build New HQ in Indiana

Nearly 1,600 of KAR’s 17,400 employees are located in Indiana, and the new location provides space for an additional 400 jobs.

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Compact SUVs Remain in High Demand

In the car segment, luxury and sporty cars decreased the most in value last week, while mid-size vehicles showed a slight increase in value

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Manheim Opens Fourth North Carolina Location

Manheim Wilmington is the fourth permanent Manheim location in North Carolina. Manheim built the two-lane facility through a partnership with D&C Mitsubishi.

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Salvage Auctions Estimate Volume of Hurricane-Damaged Vehicles

While the effect that Hurricane Irma had on Insurance Auto Auction's and Copart's operations in Florida was relatively mild, Houston was a different story.

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