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J.D. Byrider recognized winners of the company's annual awards at its November convention in Rancho Palos Verdes, Calif.The Franchise of the Year winners were chosen in three categories - single (one location), mid (two-three locations) and multiple (more...
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AutoTrader.com will use the power of its site, which attracts about 15 million unique monthly visitors, to help raise funds for St. Jude Children's Research Hospital. Since Nov. 16, visitors to AutoTrader.com have seen display ads throughout the site illu...
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CalAmp Corp. has launched the Ecotrac GPS-based tracking and stolen vehicle recovery (SVR) system for consumers, in conjunction with MOC Products Company, Inc., of Pacoima, Calif.Originally developed by CalAmp exclusively for MOC Products, the Ecotrac SVR...
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Consumer Portfolio Services Inc. entered into agreements to assume servicing responsibilities on a $146.1 million portfolio of automobile receivables owned by a subsidiary of CompuCredit Corp. As part of the transaction, CPS participated with Fortress Cre...
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Price Difference Between New and Used Continues Squeeze
The spread between wholesale and retail prices has started to widen again, according to analysis by N.A.D.A. Used Car Guide.Prices for late-model used vehicles remain high due to fewer new-car trade...
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Manheim has selected UPS to oversee its entire supply chain for moving millions of used vehicles each year to the wholesale market. Manheim selected UPS because of its reputation as a global leader in supply chain and freight services, expertise in transp...
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The Goods was released on video Nov. 17.The comedy centers on Don Ready, a super sales operator, and his ragtag crew as they attempt to save a nearly bankrupt dealership in Temecula, Calif.
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CarMax Inc. reported the top ten vehicle features searched for on carmax.com in October. Leather seats top the list as the most desired feature among carmax.com consumers."Car shoppers often know the vehicle options that are most important to them, but wi...
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Americredit Corp. announced the appointment of Robert Sturges to its board of directors and the resignation of Bruce Berkowitz. Sturges is Fairholme Fund Inc.'s designee to AmeriCredit's board.
Sturges is CEO of Nevada Gold & Casinos Inc. He has more tha...
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KAR Auction Services, Inc. reported its third quarter financial results for the three months ended Sept. 30. For the third quarter of 2009, the company reported revenue of $430.1 million as compared with third quarter 2008 revenue of $444.6 million, a de...
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HSBC Finance Corp. has announced its auto finance entities have reached an agreement with Santander Consumer USA Inc. (SC USA) to sell HSBC U.S. auto loan servicing operations as well as $1-billion in auto loan receivables for $904 million in cash, and e...
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Ebay Motors now offers free vehicle history reports through an exclusive agreement with Experian's AutoCheck. By offering free AutoCheck vehicle history reports on all listings for used vehicles no older than the 1981 model year, eBay Motors provides an u...
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Procon Inc. has announced it has been awarded the Maverick Award from T-Mobile for its innovation and accelerated growth in the subprime, automotive industry. The award was presented by T-Mobile at the M2M Summit held in Las Vegas. "The Maverick Award rec...
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RouteOne announced that Sonic Automotive Inc. will subscribe all of its dealerships nationwide to RouteOne's identity verification and electronic document storage products. Sonic will purchase for each of its dealerships a subscription to both IDOne, Rout...
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Carfax announced that DealerTrack Inventory Optimization, powered by AAX, has integrated access to Carfax Auction Quick Check. With this new functionality, auction buyers can quickly get key vehicle history details such as ownership history, branded title...
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Lower Prices at Auction May Prove Temporary
Wholesale prices continue coming down from their stratospheric levels.
Ricky Beggs, managing editor of value guide Black Book, said all 24 different vehicle segments went down in value at the start of November...
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Consumer Sentiment Continues to Sink
The economy may be improving, but the average consumer doesn't feel good enough about it to go out shopping yet.In a recent Kelley Blue Book Market Intelligence study, more than half of car shoppers surveyed said they...
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Advanced Business Computers of America, Inc. announced an enhancement to their DMS software, Deal Pack. Deal Pack now offers a fully integrated GPS solution through Ituran. "The decision to partner with a company like Ituran was easy," said Evelyn Hedy...
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For the second year in a row, Manheim has been named one of the AARP's "Best Employers for Workers Over 50." With 53 percent of its current work force over the age of 50, Manheim jumped up 15 spots this year to No. 21 on the list due to exceptional employ...
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Credit Acceptance Corp. announced consolidated net income of $40.7 million for the three months ended Sept. 30 compared to consolidated net income of $20.7 million for the same period in 2008.
For the nine months ended Sept. 30, consolidated net income w...
