The National Automobile Dealers Association reiterated its disagreement this week following voice-vote approval by the U.S. Senate Commerce Committee of S.921, the Raechel and Jacqueline Houck Safe Rental Car Act of 2013. NADA said that the bill would regulate businesses with fleets of five or more rental vehicles (including dealerships that provide loaner vehicles) and […] [Read More]

Days’ supply of used vehicles appears to be on the verge of declining sequentially for the fourth straight month, according to CNW Research. And if it falls any further, used prices may see “significant” hikes across the board, the firm said. CNW estimated July’s days’ supply of used units to be at 46.02. That’s down […] [Read More]

NextGear Capital announced a new vice president of operations and business development on Tuesday. Named to the role was Peter Grupposo, who will head up the company’s market portfolio strategies and field operational structure. He will be based at corporate headquarters in Carmel, Ind. Grupposo’s most recent post was as a regional director for NextGear […] [Read More]

Organizers of the North American Repossessors Summit revealed the dates and theme of their sixth annual event, which for the first time is being hosted by the American Recovery Association, Allied Finance Adjusters and Time Finance Adjusters. NARS 2014 is set for March 20—22 with the theme “Reclaim Your Industry.” Organizers say they’re focused on […] [Read More]

The budget advice McDonald’s is handing out to its employees probably would only dedicate enough money to purchase the lowest-end vehicle at a typical buy-here, pay-here dealership. BHPH stores often cater to customers whose primary source of income might be as a worker at fast-food restaurant such as McDonald’s. But the chain recommended the employees […] [Read More]

As regular readers know, I’ve long argued that packs on used vehicles are problematic for dealers in today’s marketplace. First, packs burden every car with additional cost. Velocity dealers know full well how challenging it can be to acquire and recondition vehicles in a manner that allows sufficient margin for a respectable front-end gross profit. […] [Read More]

Toyota Financial Services will soon have a new president and chief executive officer.   The company announced Monday that George Borst is retiring at the end of September, and filling his shoes as president and CEO will be Mike Groff, who is currently senior vice president of sales, marketing and product development. Upon retiring from […] [Read More]

Because convincing a potential buyer to take that next step after seeing or hearing a dealership advertisement can be a challenge, Cars.com offered managers some recommendations on how to refine a call to action. In a recent blog post titled, “4 Steps to Writing an Effective Call to Action,” Thomas Muellner of Cars.com acknowledged that […] [Read More]

If other commercial consignors are experiencing similar lease return trends as what Manheim chief economist observed about Ford Credit in the company’s latest fixed income call, there may be some good news on the used-car supply front. [Read More]

The free upcoming Auto Remarketing Training Series webinar is bringing together experts from Manheim, Dominion Dealer Solutions, Carfax and ShipCarsNow to help dealerships of all sizes improve their used-vehicle departments. The next ARTS webinar is set for 2 p.m. ET on Tuesday. Here is a rundown of the agenda: —Jennifer Ryan, director of inventory solutions […] [Read More]