John Felice — whose time with Ford dates back to 1984 and includes time with the remarketing department as well as sales in the U.S. and Asia — landed a new executive role on Monday with motormindz, a global automotive professional services and technology company. Felice is now a part of motormindz as a senior […] [Read More]

In the last seven years, the average age of vehicles on the road in the U.S. increased by 15 percent to 11.5 years. How will that rate change in the next five years? According to Mark Seng, the global aftermarket practice leader for IHS Automotive, the company’s prediction is an increase in overall average age […] [Read More]

There’s a lot of chatter regarding the new-vehicle sales heading into the winter, with Kelley Blue Book’s most recent estimate at 17.4 million for the year. But dealers aren’t just concerned with the flash of new sales — they know many of those vehicles will be coming back to their lots eventually, and they want to […] [Read More]

The certified pre-owned market has already eclipsed 2 million sales for 2015, which appears to be the fastest the industry has ever reached this mark in a year.   Autodata Corp. said Wednesday that the year-to-date CPO sales tally through 10 months is at 2.14 million, a full 10 percent ahead of last year’s pace. […] [Read More]

Honda announced Tuesday it will voluntarily recall roughly 35,000 model-year 2016 Pilot vehicles in the U.S. to update their combination meter software free of charge. According to the company, no market occurrences have been reported related to this non-compliance issue which was discovered via internal testing. Honda says that the software error in the combination […] [Read More]

Two-hundred million dollars. That’s the high end of the fine that vehicle-part manufacturer Takata will have to pay the Department of Transportation’s National Highway Traffic Safety Administration for its indiscretions in violating the Motor Vehicle Safety Act with its handling of defective airbag inflators. With an initial penalty of $70 million due in cash, the […] [Read More]

If you’re hungry for some certified pre-owned sales data (and really, who isn’t?) and can’t wait until industrywide numbers are reported, here’s an early rundown of folks sharing October results thus far. Kia posted had its best October ever for CPO, with 5,025 sales. This was up 17.57 percent year-over-year. In 10 months, Kia has […] [Read More]

Auto Remarketing and SubPrime Auto Finance News on Tuesday highlighted the winner of this year’s Re3 Executive of the Year Award, which is being presented by Consolidated Asset Recovery Systems. This year’s winner is Scott Phillips, who is vice president of credit risk and business process at Lendmark Financial Services, which was founded in 1996 […] [Read More]

Millennium Capital and Recovery continued its series of strategic additions to its executive management team by recently tapping Jeffrey Marsh as chief business development officer. The company emphasized Marsh’s addition further demonstrated Millennium’s commitment to current and future clients through the continued strengthening of its leadership team with Steve Todd serving as senior vice president […] [Read More]

Results from eBay Motors’ Future of Automotive Shopping Survey show that nearly 70 percent of consumers have searched for dealership information via their mobile device. Company officials also pointed out the survey findings indicated consumers — especially younger drivers ages 18 to 29 — expect technology be used to enhance the vehicle-buying experience and are more […] [Read More]