News

Lease Credit Approvals Rise to 55% in October

Lease credit approval ratings came in at 55.6% in October, an improvement over the 47.6% approval rating registered the month before, according to data from Swapalease.com.

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Five Independent Auto Auctions Join DealShield Network

The five independent auctions that will be joining include Big Valley Auto Auction, Corpus Christi Auto Auction, Greater Milwaukee Auto Auction, Houston Auto Auction, and San Antonio Auto Auction.

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Wells Fargo Dealer Services Adds $5.4M to Military Repo Settlement

Wells Fargo Dealer Services agreed to repay another $5.4 million to about 450 service members whose vehicles were repossessed by the bank in violation of the Servicemembers Civil Relief Act, the U.S. Department of Justice announced this week.

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Fleet Lease Consignor Prices Fall 1.6%

Wholesale prices for fleet lease consignor vehicles fell 1.6% in October from the prior month and 4.5% higher than a year ago, Tom Kontos said in his monthly commentary.

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Manheim to Combine Marketplace Channels

The company will be leveraging its connection with Cox Automotive brands, along with companies in the inventory management, floor planning, reconditioning, and assurance and logistics industries to create the multi-channel marketplace, according to Manheim.

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Liquid Motors Reaches Several Milestones

Liquid Motors has reached multiple significant milestones, according to the provider of remarketing software to dealers.

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AiM Launches Condition Report Website

Vehicle inspection company Alliance Inspection Management (AiM) has launched Aimcertify.com, a platform that will provide information about the condition of a car or truck located in the U.S. prior to a purchase.

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ADESA Appoints GM in Dallas

ADESA has appointed Allan Wilwayco as the new general manager of its Dallas operation. Wilwayco, who comes from Manheim, will lead the day-to-day business operations of one of the largest ADESA sale facilities in the country.

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Small Pickups See Rise in Weekly Wholesale Value

Small cars saw the biggest weekly fall in average wholesale value while small pickups saw the strongest retention last week, according to Black Book’s Nov. 13 Market Insights report.

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High-Mileage Vehicle Depreciation Strengthens

Vehicles over 100,000 aren’t depreciating at the same as they used to due mostly to a tight supply of late-model used vehicles, according to Edmunds’ Q3 Used Vehicle Market Report.

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