With used supply drying up amid the stiff competition for limited resources, dealers often have to pull out all the stops to find enough used cars for their lots. For instance, small independent dealerships, selling an average of zero–100 units annually, find close to 27 percent of their inventory through purchases off the street, according […] [Read More]

After a solid year in 2011, it appears the auto market will make even more progress next year. Even with what could be 12.8 million new-vehicle sales this year, there is still a hearty stock of pent-up demand remaining, as well as a stronger selection and improved credit conditions, leading Edmunds.com to project that 2012 […] [Read More]

Automotive Resources International announced late last week it has bolstered its presence in the U.K. with the acquisition of Fleet Support Group, which is based out of Chippenham, England. Officials noted that FSG is Britain’s largest independent fleet management company and is a family-owned business. More than 55,000 vehicles throughout the U.K. are included in […] [Read More]

The Human Rights Commission has taken note of two of the Big 3’s commitment to corporate equality. Both Chrysler and Ford received perfect scores in the HRC’s annual corporate equality index (CEI), which rates corporations based on their lesbian, gay, bisexual and transgender workplace policies and benefits. The two automakers represented just two of 190 employers to […] [Read More]

In 2008, the American Recovery Association decided to take an important step toward industry unification and started planning an event to bring together collateral recovery specialists, remarketing professionals, professionals in the lending industry and industry vendors. Spurred by the disappointing economy and a downturn of events in the industry, ARA sought a solution to equip […] [Read More]

PRA Location Services contends it has found a way for repo agents to take advantage of license-plate recognition technology without operators needing to invest thousands of dollars in equipment and more. The Las Vegas-based subsidiary of Portfolio Recovery Associates recently launched RecoveryNet, a subscription-oriented platform that can allow repo agents to submit as many as […] [Read More]

Late last week it was revealed that Mercedes-Benz USA has chosen a new president and chief executive officer. Tapped for the position is Stephen Cannon, former vice president of marketing for MBUSA, effective Jan. 1. Cannon replaces Ernst Lieb, who left the company this past October. As for his new role, Cannon will now have […] [Read More]

Roger Penske had a choice to make. It was February 1965 and the then general manager of a Philadelphia Chevrolet dealership had been offered the opportunity to become the store’s owner. But in order for that to happen, Penske would have to give up what drew him to Chevy in the first place: racing. [Read More]

With new-vehicle sales expected to hit their highest level in five years, it has left some automakers “virtually out of stock” of some hot-selling vehicles, according to the 24/7 Wall Street website. In light of this dynamic, the publication has released a list of “Cars So Hot They Are Out of Stock,” a collection of […] [Read More]

Pulling up to Hyundai headquarters, a man pulls out a black ski mask and quickly puts it on. The suspicious character climbs out of the car and works his way to the fences surrounding the facilities, carrying some heavy bolt-cutters. The mission? To steal the corporate drift car. The catch? The thief has Hyundai’s permission […] [Read More]