Bank of America is enhancing its mobile offerings in an effort to boost originations with its participating dealerships. On Monday, bank officials highlighted that they launched new capabilities for mobile clients to complete the auto financing process with the company while searching for a vehicle from dealerships within the bank’s network. Plus, customers can complete […] [Read More]

The wave of off-lease vehicles volume is at its “high tide,” according to Scotiabank, which says lease return numbers — and their subsequent impact to used-car prices — should begin to calm down. The peak in leasing growth was in 2013-14, the company said in its latest Global Auto Report. Lease penetration rates grew at […] [Read More]

To help dealers generate interest in F&I protection, RoadVantage said it has released a new series of free point-of-sale product videos which inform customers about F&I protection when they purchase a vehicle. Like an audiovisual product brochure, the videos are short and product-specific, according to the company. The series focuses on the benefits of specific products, […] [Read More]

Frontier Car Group, a new global company that builds and runs marketplaces for used cars in five countries, recently announced the closing of a $22 million investment made by a portfolio of global investors led by Balderton Capital. With operations in Chile, Mexico, Nigeria, Pakistan and Turkey, the group said it will put the funds toward growing […] [Read More]

More than 22 percent of franchised dealers' used-car sales in the first quarter were certified pre-owned vehicles, according to Edmunds, which says these stores are feeling the pinch in their older inventory but see a flood of late-model supply. There were 647,400 CPO sales in Q1, which was up a modest 0.1 percent year-over-year, according […] [Read More]

Amid the leadership shakeup at Ford, several industry analysts and observers weighed in Monday on the news that Jim Hackett would be replacing Mark Fields as the Blue Oval’s president and chief executive officer. The news was first reported Sunday night by Joann Muller of Forbes before the automaker made the announcement Monday morning. “We’re […] [Read More]

Jumpstart Automotive Media’s newly released share of shopper interest data from last month shows strong gains among domestic OEMs such as Chevorlet and Dodge. Chevrolet has passed Ford as the brand with the most shopper interest. The brand’s overall share of shopper interest increased to 8.9 percent in April, up from 8.7 percent the previous […] [Read More]

Car dealerships don’t appear in any imminent danger of joining the brick-and-mortar retail graveyard haunted by the fates of big-box stores in other industries, many of whom were usurped by the likes of Amazon and Netflix and their own failures to adapt to customer demand. In the case of dealers, says David Kain, “I think […] [Read More]

You can expect the international used-car market to show some nice growth over the next handful of years, according to two reports released in the past week. Technavio, a global tech research and advisory firm, forecasts a 128.42 million-unit global used-car market by 2021. That would represent a compound annual growth rate of more than […] [Read More]

Sometimes that vehicle you delivered just turns out to be a lemon. Los Angeles-based law firm Consumer Law Experts conducted a study to find out how often lemons are rolling over the curb and which automakers manufactured those units. The firm also made a recommendation on the role dealerships can play to prevent the situation […] [Read More]