Generation Y, also referred to as millennials, are becoming more influential in the automotive space as their purchasing power increases and they become more of an integral demographic in the car-buying population. And, clearly, their shopping and buying habits will shape the future of the retail auto business. With that in mind, a recent post […] [Read More]

The Council of Repossession Professionals (CORP) used last week’s North American Repossessors Summit to establish the six conditions that constitute a voluntary repossession in an effort to streamline guidelines for the industry. CORP, which is made up of two representatives from nine trade groups, indicated these six voluntary repossession elements include: 1. The repossession agency is […] [Read More]

After news broke that powertrain warranties on 2016 model-year Chevrolet and GMC vehicles were being reduced from 100,000 miles to 60,000 miles, Kelley Blue Book’s Eric Ibara weighed in on how this may impact resale values for these vehicles. Rest assured: there probably won’t be any measurable fallout. In fact, Ibara said, the certified pre-owned […] [Read More]

One of the coldest February in years that brought record-breaking snowfall and temperatures with it had a direct impact on used-car prices. And with this slowdown in price growth and disruption to dealers and buyers, pent-up demand is expected to push prices higher than expected this month. That’s according to data shared in the latest […] [Read More]

In what should be music to the ears of franchised store principles and industry leaders, a new study orchestrated by the Phoenix Center highlighted how much consumers benefit from the dealership system currently in place. The study found consumers significantly benefit from "intrabrand" price competition for new vehicles — often in the hundreds of dollars […] [Read More]

Southeast Toyota Distributors announced this week that five dealers in its region have been honored with the 2014 National Leadership Award for outstanding performance in the Toyota Rent a Car program. A total of 56 dealers, overall, received the TRAC award. The Southeast Toyota dealers winning the award were: Toyota of South Dade – Homestead, […] [Read More]

Digital Recognition Network has a busy week ahead during the North American Repossessors Summit. From highlighting its new technology to the latest metrics about what license-plate recognition technology can do to push revenue higher, DRN chief executive officer Chris Metaxas gave Auto Remarketing some details in advance of when more than 600 repossession agents gather […] [Read More]

Cars.com recently announced the results of an analysis it performed on nearly 1 million reviews submitted by customers on its site. According to the company’s research, seven out of 10 car shoppers said that reviews of dealerships are either a “very” or “extremely” important part of their research during the vehicle-buying process. To further elaborate on this […] [Read More]

You’ve never seen a closer like my mom, Mary. I’m telling you — if you haven’t been to her house for dinner, and her fabulous red sauce, well … there’s a seat waiting for you next Sunday night. Hosting dinner is her bread and butter (quite literally) — she doesn’t take no for an answer, […] [Read More]

The well of future certified pre-owned vehicle inventory is getting deeper because of how many new models are leaving showrooms as leased vehicles. Experian Automotive reported that leasing continued to gain traction in the fourth quarter as volume jumped 3.6 percent from a year earlier to reach nearly 30 percent of all new vehicles financed […] [Read More]