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Ally Aims To Boost Used Car, Subprime Business Ally Financial Inc. plans a big push into the used-vehicle finance business and has hired extra underwriters to handle the increase in volume, particularly the jump in riskier borrowers. Ally is the top-ranked provider of new-vehicle loans, but it has just dabbled in the used-vehicle business, Experian AutoCount data show. To attract used-car business, Ally will need to reach out to subprime bor ... read more>>   As Expected, August Auto Sales Crater Car and truck sales dropped sharply in August from a year ago, the result of a massive hangover from last August's cash-for-clunkers federal rebate fiesta that made it the best car sales month of 2009. Industrywide sales were down 21% from last August, to 997,468, the worst August total since 1983, according to Ward's AutoInfoBank. The month's seasonally adjusted annualized sales rate of 11.47 mi ... read more>> Auction Sales Off 6% In 2009 Dealers bought almost 9 million vehicles at National Auto Auction Association member auctions in 2009, down 6 percent from 2008, according to the group's 13th annual survey. Vehicles sold at the auctions' physical and online sites were valued at almost $81 billion last year, down just 3 percent, the survey found. The difference between units and prices reflected a steady rise in used-vehicle pric ... read more>>   Bidding For Bargains Bill Pearson is a man on a mission, undaunted by the stifling mid-August heat here at Manheim Nashville's used-vehicle auction lanes. Pearson, co-owner of Finish Line Ford in Peoria, Ill., races through a maze of cars and trucks, eyeing his goal: a charcoal gray Ford F-150. The off-lease 2007 pickup has new tires, an upscale Lariat trim package and a Triton V-8. To the untrained eye, the truck l ... read more>>

New Repo Auction articles this edition... Higher Prices Keep Auctions Healthy What recession? Sure, new-car sales were dismal and used-car sales to consumers declined last year. But 2009 was a good year for the auction industry. Auction companies sold a record percentage of the used vehicles offered at auction lanes and online. And although industrywide profit data are unavailable, rising average auction sales prices meant higher commissions, bolstering profits. Of the 1 ... read more>> New ADESA Units Geared To Dealer Owned Vehicles ADESA Inc.'s acquisition this month of a six-site auction company will help ADESA sell more dealer-owned used vehicles on consignment, said the CEO of ADESA's parent company. "These are sites we may not have even looked at in the past," Jim Hallett, head of KAR Auction Services Inc., said during a quarterly conference call with analysts and journalists. "In fact, I would say they are not in secon ... read more>> OKC Firm Offers Web Auctions Penny auction websites are a relative newcomer to the United States, but an Oklahoma company has grabbed its share of the shoppers and revenue. QuiBids is nearing a full year of existence in the “entertainment shopping” business, with plans to grow internationally in the next few months. QuiBids users buy “bid packs” at 60 cents a bid to vie for auction items ranging from computers to gift cards ... read more>> Sales Reflect Expiration of Tax Credit Do you remember how the"cash for clunkers"program boosted new-car sales in 2009 by giving money to car buyers? In July and August of last year, the program generated an additional 360,000 car purchases in the U.S. (Stick with me. This will be about houses in a minute.) The problem is, most of those car purchases would have occurred later, even without the monetary incentive, according to a recen ... read more>> Volvo Touts Maintenance Package on Certified Used Cars Volvo Cars North America is hoping to boost certified used-vehicle sales with a new factory-scheduled maintenance program. In mid-December, Volvo introduced Protection Plus+. The F&I product is a maintenance package that provides additional coverage on thousands of certified used-vehicle components, systems and operations, expanding the coverage offered under the standard certified pre-owned warr ... read more>> VW Credit Sends Dealers Online Service Contract Leads Volkswagen Credit is feeding dealers online sales leads for extended service contracts the same way that auto manufacturers send their dealers sales leads for vehicle sales. The captive finance company eventually will provide dealers online leads for such other products as tire-and-wheel coverage and guaranteed asset protection, which helps pay off a car loan when a vehicle is totaled or stolen. ... read more>>