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The Iranian conflict and rising gas prices inject much uncertainty into the future wholesale used vehicle markets, as higher gas prices soak up spendable income from vehicle buyers.
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CARMEL, IN – ADESA, Inc. has announced that Glass, Lewis & Co., an independent voting advisory service, recommends ADESA stockholders vote for the company's proposed merger with KAR Acquisition, Inc., at the Mar. 28 Special Meeting of Stockholders.
Read More →LONG BEACH, CA – Tokio Marine, part of the $32 billion Millea Holdings, Inc., has acquired a 15-percent interest in Alliance Inspection Management (AIM), a national, independent third-party inspection company.
Read More →NEW YORK – Hearst Corp. has acquired private technology company Veretech, LLC, which operates online vehicle trade-in and sales lead generation applications now used by more than 2,000 consumer retail Web sites, manufacturer sites, and Web portals.
Read More →MT. LAUREL, N.J. – Automotive Resources International (ARI), has added ARITruckDirect to its remarketing program.
Read More →DETROIT – Mark Mathews will replace Jeffrey S. Heichel as director of GM's used-vehicle activities. Mathews came from GM Holding and has a finance background.
Read More →GAINESVILLE, GA – Finance Express' has added Black Book to its FEX inventory management solution. FEX fully integrates regional, national, and local lenders into the dealer management system with accounting, collections, buy-here-pay-here, and inventory management capabilities.
Read More →FREDERICK, MD – The 10th annual auction industry survey released by the National Auto Auction Association, Inc. (NAAA) pegs sales of used vehicles at NAAA member auctions at 9.5 million units valued at $86.9 billion.
Read More →CARMEL, IN – A slowing economy and weak retail demand combined late last year to cause a year-over-year decline in wholesale vehicle prices in the last two months of 2006.
Read More →DETROIT – General Motors will provide a fully transferable five-year/100,000-mile powertrain limited warranty, with no deductible, on all 2002-2006 GM Certified Used Vehicles. The new warranty is effective from the vehicle's original in-service date.
Read More →AUBURN HILLS, MI – DaimlerChrysler Remarketing has named Greensboro Auto Auction in Greensboro, N.C., as Auction of the Year. This is the third time in the past five years that Greensboro Auto Auction has been selected by DaimlerChrysler Remarketing as its top- performing auction.
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