DealerTrack announced Thursday afternoon that it is acquiring the Web-based transportation and shipping network that includes CentralDispatch.com, jTracker.com and MoveCars.com. The company entered an agreement to purchase 1st Auto Transport Directory Inc., and it will likely pay about $74 million for the San Diego-based network. The deal will likely close in the third quarter, officials […] [Read More]

An economy that is apparently on steadier ground has brought good tidings for the new-vehicle market, but that may not be the case for the used-car business. Coupled with an older crop of vehicles on the road, perceptions of a stabilized economy are helping push many shoppers to new vehicles instead of used units, according […] [Read More]

Even as gas prices rise and fall, sales of hybrid and electric cars are doing much better than holding steady — they’re surging, according to a new Kelley Blue Book report. Sales of dedicated hybrid and alternative-energy vehicles saw a jump of 164 percent in June, even as gas prices declined, per the Kelley Blue […] [Read More]

Consumers clamored for fuel-friendly rides and dealers throughout the bulk of the country posted improvements in auto sales, according to the latest Beige Book report from the Federal Reserve. Some of the 12 Federal Reserve Districts also pointed to strong leasing levels and used-vehicle sales, specifically. Overall, the progress of auto dealers appeared, yet again, […] [Read More]

Dealers understand that finding ways to obtain financing — both for themselves and especially their customers — is just as important as procuring inventory and quality leads. In light of how the economy has behaved in the last few years, Auto Remarketing took an extended look at vehicle financing, insurance and more. Industry analysts and […] [Read More]

DataScan Field Services recently launched a new online scheduling tool aimed at giving captive and financial institutions a convenient way for their lessees to schedule end-of-lease vehicle inspections. With this new tool, DataScan explained that customers of participating financial institutions can quickly and easily make their inspection appointments via the Web. The new service is […] [Read More]

With a credit report being such a significant element in the vehicle financing process, Consumer Financial Protection Bureau director Richard Cordray told the gathering assembled for a credit reporting field hearing how regulators might oversee how credit report providers do business. Cordray insisted on Monday that, “credit reporting plays a critical role in consumers’ financial […] [Read More]

With regulation constantly evolving especially from the Consumer Financial Protection Bureau, Recovery Industry Services Co. recently enhanced its offerings for recovery professional and repossession agents. One of the newest RISC products is a document geared to meet CFPB requirements — the Compliance-Complaint Checklist. “After a review of our training programs by a law firm that […] [Read More]

Penske Automotive Group — which ranked third on Auto Remarketing’s list of the top 125 dealership groups in the U.S. based on 2011 used-vehicle sales —  revealed this week it completed the redemption of $63.3 million in outstanding 3.5 percent senior subordinated convertible notes due 2026. The company said it settled the obligation in cash; […] [Read More]

When it reaches the dealer’s lot, today’s trade-in has three to four more years on it than the cars that consumers were bringing in just a few years back, according to Black Book. And the stores most likely to gain from this trend are the buy-here, pay-here businesses, the firm said. [Read More]