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Auction Names Sales VP

Wednesday, 19 July 2017 16:22

KASP Auto Auction named Michele Pierog as vice president of national sales.

An industry veteran with over 15 years of experience, Pierog started her career running dealer registration at Auto Auction of New England. She was promoted to the sales and marketing department where she spent over a decade in various roles ranging from sales support to director of sales and marketing.  

During the latter part of her career, Pierog has served as director of national sales working with both dealer consignment and commercial accounts.

She became a certified automotive remarketer in 2015 and has been active in several committees including the certification committee with the International Alliance of Automotive Remarketers.

KASP is the largest independent auto auction in Kentucky and is part of the Auction Management Solutions affiliated group of independent auctions.



GWC Upgrades Online Resources

Wednesday, 19 July 2017 16:22

GWC Warranty has released Dealer Portal 2.1, the latest batch of enhancements to GWC's online dealer resource center.

Dealer Portal 2.1 features a brand new dealership dashboard provides quick access to claims paid and sales reporting, giving dealers instant, on-demand insight into how vehicle service contracts protect their reputations and their profits.

The Elite Dealer Page is a new section of the Dealer Portal that allows dealers to easily see their Elite Dealer status, stay up to date on how to earn or maintain Elite status and learn more about exclusive benefits.

The revamped Elite Lead Generator Report now includes more useful customer information and is optimized for easy printing to help dealers capitalize on lead opportunities from expired contracts.

Online claims, an Elite-exclusive feature, has undergone a complete rebuild to now accept attached documents and upfront submission of parts and labor details. These updates will further enhance the expedited claims experience available for GWC's top-producing dealers and their customers.


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Dealer Consignment Outperforms at Auctions

Tuesday, 18 July 2017 17:57

Average wholesale prices in June were down versus May but up on a year-over-year basis.  
According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in June averaged $11,067. That is down 0.7 percent compared to May and up 4.7 percent relative to June 2016.  
Compact and full-size pick-up trucks and minivans showed significant average price gains for the month, while most other model classes registered month-over-month declines or modest increases.  
Average wholesale prices for used vehicles remarketed by manufacturers were down 1 percent month-over-month and down 1.9 percent year-over-year.  Prices for fleet-lease consignors were down 1.1 percent month-over-month and up 3.2 percent year-over-year.
Average prices for dealer consignors were up 0.9 percent month-over-month and up 7.7 percent year-over-year.

Chase Reports More Revenue, Expense

Tuesday, 18 July 2017 17:57

Auto leasing both gave and took away from Chase in the latest quarter.
The bank reported that noninterest revenue grew in the second quarter, due in part to higher auto lease revenue.
However. Chase also reported that noninterest expense rose, due in part to higher auto lease depreciation.
The bank’s reserve for auto loan loses was $25 million in the second quarter. Reserves for losses grew overall, driven by both loan growth and higher loss rates, predominantly in the bank’s credit card business.