The fate of ex-used-car sales manager Alireza Zolnasr is now in the hands of British Columbia Supreme Court Justice Peter Willcock after Zolnasr was convicted of  swindling nearly $260,000 from the Pacific Honda dealership that used to employ him, according to a report by North Shore News. Sentencing for Zolnasr is scheduled for November, and […] [Read More]

Earlier this week, Chrysler revealed several new incentives for October, while also upgrading an existing offer. The introductory incentives are good on select 2012 model-year units. The offers are as follows: —For the 2012 Chrysler Town & Country and the 2012 models of Dodge’s Grand Caravan, Charger and Challenger, qualified buyers can receive $500 in […] [Read More]

The National Vehicle Leasing Association announced it has changed the date for its annual conference. The NVLA conference will now be held April 23–25 at the Renaissance Worthington Hotel in Fort Worth, Texas.  The organization also noted one of the highlights of the 2012 conference is a special track on the lease-here, pay-here business. Other […] [Read More]

September marked the fourth straight time new-vehicle transaction prices have fallen on a sequential basis, resulting in a five-month low for what new cars are fetching, according to TrueCar. Specifically, the average new-car transaction price was $29,439 during the month. This is 1.2-percent higher than the year-ago figure but is off modestly (0.1 percent) from […] [Read More]

Dealers looking for off-lease units might want to mark March 2013 on their calendars. That’s when Kelley Blue Book thinks wholesale volumes for these valuable used units might finally edge higher. The reason KBB believes it will be about 18 months before off-lease availability increases is that’s when a larger amount of leased units begin […] [Read More]

Despite the high unemployment numbers and weak consumer confidence that plagued the economy, new-car sales saw nearly a double-digit rise as shoppers continued to flock to dealer lots, according to the American International Automobile Dealers Association. And while the most dramatic gains were spotted among the Big 3 OEMs, import brands enjoyed more than a […] [Read More]

KAR Auction Services revealed late Monday afternoon that its deal to buy OPENLANE has officially closed. The acquisition — which was announced in August — is now final. “Finalizing the acquisition of OPENLANE is great news for our employees, customers and other stakeholders, and we’re very excited to be able to move forward today as a unified […] [Read More]

Franchised dealers enjoyed more than an 11-percent year-over-year lift in used-vehicle sales during September, according to CNW Research, which attributed the spike to a major dose of incentives and strong trade-in values. The spike by franchised stores helped move the industry to an overall used sales total of 3.23 million units, up 4.6 percent year-over-year. […] [Read More]

Edmunds.com spotted that at least one foreign automaker is ramping up incentives like analysts have predicted. With its production of new models now back to normal, the site determined Honda’s average incentive spend grew to $1,871 per vehicle last month, a 12.3 percent increase over its average incentive spend in August. Echoing reasons analysts gave […] [Read More]

LeasePlan USA announced Monday that one of its own has been elected as vice president of the International Automotive Remarketers Alliance. As the organization’s VP, LeasePlan USA’s director of remarketing Levi McCoy will serve on the board of directors, which meets regularly to discuss and resolve issues regarding the IARA’s service to its membership base. […] [Read More]