Following its monthly survey of dealers and industry contacts conducted in August, KeyBanc Capital Markets said it remains “bullish” on the outlook for franchised dealers based on wide array of factors closely related to these stores. Analysts determined that used-vehicle sales should increase at the compound annual growth rate in the mid-single digits during the […] [Read More]

Earlier this week, Copart released its earnings report for the fourth quarter and year ending July 31, and said it saw gains in revenue, but decreases in operating income and net income. Starting off with the full-year results, Copart pulled in revenue of $1.05 billion, which marked a 13.2-percent year-over-year increase. Operating income was $283.0 […] [Read More]

The growth in revenues for privately owned used-car dealers has simmered down a bit, but revenues are still climbing — and what’s more, net profit margins are getting stronger. That’s according to data provided to Auto Remarketing by financial information company Sageworks that covers privately owned used-car dealers.* The revenue for these dealers from August […] [Read More]

On Tuesday, NextGear Capital appointed a new vice president of diversified products. Tapped for the role was Frank Ford, who will be responsible for strategic planning, development and growth of diversified non-auto floor plan products. The company indicated those products could include recreational vehicles, marine, powersports, salvage, daily rental and others as implemented. “As market […] [Read More]

NetChoice — a public policy advocacy organization that promotes Internet innovation and communication — is continuing to work on keeping license plate recognition technology available as a tool to boost the efforts of the repossession and recovery industries. NetChoice recently assembled a new presentation to explain LPR technology and debunk myths about how the tool […] [Read More]

It must be fall. The air is crisp, football is underway, and here in Ohio the leaves are beginning to changes colors. Oh, and of course, our government is on the verge of a total shutdown. On Friday, while I was in Washington, D.C. for a few meetings, the House of Representatives voted on a […] [Read More]

Chrysler Group announced Monday that it filed a registration statement for a proposed initial public offering. The automaker, which filed the statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of common shares, said in its press release that it has not determined the number of […] [Read More]

Dealertrack Technologies announced Monday afternoon that it has entered an agreement to purchase VINtek, a provider of automotive collateral management, electronic lien and title and consumer automotive finance processing services. “VINtek has been an innovator and strong supporter in the ELT marketplace for years, and is well-respected by state governments, including their departments of motor […] [Read More]

Consumer appetite for the latest iterations of the compact crossovers is strong, Black Book says, thanks to the functionality, value and fuel economy these vehicles offer. And shoppers are even responding positively to the fact that these vehicles are bigger than their 2005-2008 counterparts. However, this strength doesn’t appear to have translated over to the […] [Read More]

The industry is rallying to fight hunger during Hunger Action Month, as AutoTrader Group and Sheehy Auto Stores both revealed future plans and results from their efforts this week. First up, the AutoTrader Group shared that its Drive Away Hunger Campaign collected more than 33,000 pounds of food and donated more than $67,000 to community […] [Read More]