Whether it's associated with a large, public dealer group or a single buy-here, pay-here lot, matching vehicles up with financing remains one of the biggest challenges managers still face. Recently, sister publiciation SubPrime Auto Finance News found the top boss from Penske Automotive Group and the current president of the National Independent Automobile Dealers Association […] [Read More]

The best quarter of all time for the certified pre-owned market was promptly followed by the strongest October ever. And another record year for CPO sales appears likely. Autodata Corp. reported Monday afternoon that there were 146,492 certified sales last month, which was a 5-percent year-over-year gain. This resulted in the year-to-date sum moving to […] [Read More]

Though the full impact of Hurricane Sandy on both the new- and used-vehicle markets has not been fully realized, new-vehicle sales continue to rise, according to the American International Automobile Dealers Association. AIADA  released October sales figures that showed the seasonally adjusted annual rate (domestics and imports combined) at 14.29 million units, an improvement over […] [Read More]

For the second time, Hertz Global Holdings extended the expiration date of its previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group. Now the deadline is 5 p.m. ET next Friday. The tender offer was previously scheduled to expire at 5 p.m. ET on Monday. Officials […] [Read More]

Registration momentum continues to build for the Used Car Week conferences — the National Remarketing Conference, CPO Forum and Re3 Conference — which will all take place next week, Nov. 12–16 in Scottsdale, Ariz. [Read More]

As dealer groups and industry analysts survey the damage of Hurricane Sandy to the used-car industry, most seem to agree on one thing: the storm will push used-vehicle prices up in the coming months. Edmunds.com director of analysis Ray Zhou, commented on this trend late last week, saying “Used vehicle prices will increase $700 to […] [Read More]

Can Facebook help boost sales in dealerships? The jury is still out, but research firm Friedman-Swift Associates revealed research last week that says more than one in four new car buyers visit social networking sites at least weekly. Jeff Friedman, president and chief executive officer of the Cincinnati-based Friedman-Swift Associates, said, "28 percent of people […] [Read More]

A positive online review of a dealership can draw a wider radius of potential car buyers, says a new study of more than 1,600 car buyers and 600 dealerships by Digital Air Strike. In releasing the results of its Fall 2012 Automotive Social Media and Reputation Trend Study, the automotive social media, online reputation and […] [Read More]

From monetary and vehicle donations to deferred payments for storm-stressed customers, automakers and others in the industry are providing aid to those impacted by Superstorm Sandy. For auto dealers in areas affected by the storm, MediaTrac has announced complimentary email campaigns it says are designed to help dealers provide valuable information to their customers about […] [Read More]

The Dataium Automotive Shopper Intensity Index continued its upward momentum, increasing 4.65 percent from August to September. Dataium said the positive movement of the ASI — which serves as an early predictor of the next 30 to 45 days of automotive retail sales — reflects the strengthening consumer confidence that has been aided by a […] [Read More]