Mazda Canada has struck a deal with LGM — which provides OEM-branded extended warranty credit insurance, wear protection and vehicle theft deterrent products — to allow its dealers to offer lease customers an added layer of protection and perhaps lead to a better-conditioned vehicle upon return to the dealership. The companies have rolled out Mazda […] [Read More]

Dealers are already feeling the pinch of diminishing used-vehicle supply circulating back into their stores, but they might want to brace themselves, as it’s about to tighten even more, according to NADA Used Car Guide. This company reports that off-lease supply of three- to four-year-old vehicles, in particular, will likely be “bottoming out” late next […] [Read More]

DrivingSales has opened up the application process for its 2011 DrivingSales Dealer Best Idea Award program and is encouraging dealers to submit their entries. There will be five finalists for the award, which is sponsored by ADP/Cobalt. These finalists will get the opportunity to vie for more than $10,000 in cash and to demonstrate their […] [Read More]

Used-truck values were initially expected to climb 6 percent in the upcoming quarter, but that surge may end up being even higher, according to NADA Used Car Guide automotive analyst Jonathan Banks. How? The current gas-price dynamic, he indicated. “Looking ahead, we anticipate that light truck values will do well during the upcoming quarter primarily […] [Read More]

The board of directors at Group 1 Automotive has given the green light for up to a $25 million repurchase of the retailer’s common stock. Group 1 plans to use cash from operations to pay for the repurchase. There were 23.6 million shares of outstanding common stock as of June 30. The company will hold […] [Read More]

In the last few years, Ron Bloom has been instrumental in shaping some of the federal government’s most influential policies regarding the U.S. auto industry, including the restructuring of General Motors and Chrysler and the recent agreement to bump up gas-mileage standards. And on Tuesday, it was revealed that President Obama’s top manufacturing policy chief […] [Read More]

In pitching what it finds to be the 2011 Top 10 Back-to-School Cars, Kelley Blue Book threw in a little bit of a change-up. This year, Kbb.com selected five used cars and five new cars, ranking each category separately. To compile the lists, editors recommended new and used rides that allow high school and college […] [Read More]

Spurred by high demand and shrinking supply, asking prices for certified pre-owned vehicles surged in July, according to AutoTrader.com, which saw a year-over-year price bump in 17 of the site’s 20 most popular CPO models during July. What’s more, 13 of those increases were greater than $1,000. The CPO price hike was particularly evident at […] [Read More]

According to Edmunds.com chief economist, consumers and dealers need not worry about the recent stock market turmoil negatively affecting the new-car shopping process. Noting a few issues that are particularly important to new-car buyers, Lacy Plache concluded that despite the recent stock market downturn and downgrading of U.S. credit rating, car loans will still be available, […] [Read More]

Consumer sentiment and confidence in the economy fell to its lowest level since 2009 and registered the sharpest drop in two years as debt ceiling debate turmoil in Washington revealed the realities of a weak economy, according to August’s Consumer Reports Index. Though most numbers regarding the automotive segment remained even with July, used-vehicle purchases […] [Read More]