Late last week, vehicle research and shopping site CarGurus.com doled out a list of the most ideal used vehicles for a group of shoppers whose budgets are often tight, especially given today’s economy: recent graduates. On its list, two brands in particular — Volkswagen and Ford — led the way. In determining the group of […] [Read More]

Mimicking philanthropic efforts by automakers, the National Automobile Dealers Charitable Foundation has mobilized its emergency relief fund to aid dealership employees recovering from the tornadoes that devastated parts of Iowa and Alabama last week. NADA indicated that six people already have received grants from the foundation to help them get back on their feet after […] [Read More]

LeasePlan USA revealed its new vice president of operations on Thursday, whose responsibilities will include remarketing, in addition to other areas. Named to the role is Mike Miller, who has been with the company since 2004. Miller will be responsible for leading the commercial fleet operations group to continued success. His responsibilities will include vehicle acquisition, vehicle […] [Read More]

It shouldn’t be surprising one of the first considerations shoppers coming into your showroom will mention is fuel economy. The latest Kelley Blue Book Market Intelligence Survey concerning consumer sentiment and gas prices revealed the current economic situation, coupled with concern over the rise in fuel prices, has further caused an increasing number of new- and […] [Read More]

The NADAguides Car of the Month for May was announced this week and taking the honors is the 2011 Ford Fiesta. NADAguides lauded the car for high-quality engineering throughout the vehicle, its driving comfort, fuel-efficiency and overall values. The company also found the vehicle’s features to be “above and beyond what is expected in its class.” […] [Read More]

Geared especially for National Independent Automobile Dealers Association members, NADA Retirement Administrators rolled out a number of new products and enhanced services this week. The enhancements include: —Sub20 Plan. —Online investment guidance. —Executive and deferred compensation plan. “As the preferred retirement plan provider for the National Independent Automobile Dealers Association, we are pleased to be […] [Read More]

Reflecting market adjustments and noticeable change in domestic vehicle leasing volume, LeaseTrader.com declared more Americans are now leasing domestic units compared with pre-recession activity. “Prior to 2008, domestic vehicle leases on LeaseTrader.com were one-sided with only the SUV/truck category representing any significant percentage of total marketplace inventory,” explained Sergio Stiberman, chief executive officer and founder […] [Read More]

Incentive spending hit a five-and-a-half-year low during April, which points to the extreme likelihood that automakers are stockpiling their new vehicles for an impending supply dearth, according to Edmunds.com. Car companies spent an average of $2,118 per new vehicle sold on incentives during the month, the site estimated. This marks a 19.6-percent year-over-year slide and […] [Read More]

J.D. Byrider announced Tuesday that it has been acquired by private equity firm Altamont Capital Partners. Altamont plans to provide Byrider with strategic direction, experienced resources and additional capital to support its growth and franchise expansion initiatives. The purchase of Byrider is Altamont’s first investment from its $500 million fund, which closed late last year. The firm said […] [Read More]

Not long after the automaker declared it was paying back government bailouts and posted quarterly net income for the first time since bankruptcy, Chrysler Group chief executive officer Sergio Marchionne had more positive financial news to share Tuesday. Standard & Poor’s issued a preliminary B+ credit rating for Chrysler. Also coming Tuesday, the automaker learned Moody’s issued […] [Read More]