Beyond discussion about new bylaws and the organization’s second-ever industry scorecard, leaders of the American Recovery Association are most excited about the potential for one of the highest-attended annual conventions ever. ARA is assembling starting on Aug. 17 for a four-day event at the Westin Jersey City Newport Hotel in Jersey City, N.J. “I think […] [Read More]

The new-vehicle sales slowdown since 2008 is not only pushing wholesale used-vehicle prices higher, but Kelley Blue Book expects the supply of these used units to become even tighter. Contained within the residual value discussion in the August edition of the Blue Book Market Report, Eric Ibara, KBB’s director of residual value consulting, explained how […] [Read More]

While working with one of my clients covering a strategy on changing the price of a vehicle he had priced at $15,298, my first reaction was to tell him to reduce it down to $14,995 so he wouldn’t miss any searches done up to $15,000 because of $298. Then it dawned on me, don’t change […] [Read More]

Two Canadian auto lenders have struck a deal that is designed to help their mutual dealer customers in Ontario more easily facilitate subprime car loans. In talks between leaders of the two lenders — subprime lender Cars on Credit and floor-plan financer Clubb Finance Corp. — the companies both emphasized that dealers were most concerned […] [Read More]

Carfinco Income Fund has pushed its record streak to nine quarters, the company announced this week. Reporting $5.8 million in second-quarter pre-income tax earnings, Carfinco now has broken records in this metric each quarter beginning with the second quarter of 2009. In that period that kicked off the record streak, Carfinco generated pre-tax income of […] [Read More]

General Motors has pushed its streak of profitable quarters to six with the most recently completed period, and the company’s top boss stressed during a conference call Thursday the continued importance of three fundamentals to GM’s success. In wrapping up his opening remarks during the call, GM chairman and chief executive officer Dan Akerson boiled […] [Read More]

Mirroring impressive gains made by an industry competitor, Avis Budget Group highlighted jumps in revenue, adjusted EBITDA and more during the second quarter. Avis determined its revenue came in at $1.4 billion, an increase of 9 percent compared with the same period a year ago. This increase is primarily due to an 8-percent rise in […] [Read More]

NADAguides.com said Thursday that it has seen traffic to its new- and used-car section climb 10 percent since Jan. 1, a trend it believes follows the growth in the overall new-market this year. In addition to this 10-percent hike in unique visitors to the site, NADAguides.com saw 12-percent year-over-year traffic growth for the month of […] [Read More]

In less than two months, the South Dakota Independent Auto Dealers Association will host a two-day conference in the historic Western town of Deadwood, S.D., where attendees will be treated to presentations on best practices from a slew of industry leaders as well as a Las Vegas-style theme and entertainment. “Las Vegas in Deadwood – […] [Read More]

Noting profitability has reached levels not ever seen before, Hertz Global Holdings highlighted its second-quarter financial performance this week, including jumps in revenue, adjusted pre-tax income and adjusted net income. The company’s second-quarter worldwide revenues came in at $2.1 billion, a 10.3-percent increase year-over-year. Hertz indicated worldwide car rental revenues for the quarter increased 9.8 […] [Read More]