Nearly 1 out of 3 car shoppers have negative equity on their trade-ins when they’re purchasing their next vehicle, according to Edmunds.com. Edmunds’ data shows that an estimated 32 percent of all trade-ins toward the purchase of a new car through the first three quarters of 2016 were underwater. It’s the highest rate on record, […] [Read More]

We all know today’s automotive market is tricky to navigate. As margins compress and sales slow, your job is to make sure that when consumers do decide to purchase a vehicle, they’ll purchase from your dealership. Of course, that’s all great in theory. Making it happen in practice, though, takes a complete understanding of exactly […] [Read More]

On Monday, ALG announced that Land Rover and Subaru placed as the top brands overall in its 2017 Residual Value Awards, an annual honor for brands and individual models with the highest retained value. Land Rover was recognized for the third consecutive year as the premium brand with the best overall residual values, while Subaru was […] [Read More]

Here’s an opportunity dealers might be missing: consumers are willing to pay more for CPO than you think. On average, a consumer would shell out $3,000 more on a certified pre-owned car than a non-CPO version of the same car, according to the Cox Automotive 2016 CPO Study. But here’s the thing. Dealers think they […] [Read More]

Costco Auto Program announced that in the first month of its General Motors Holiday sales event, 70 percent of purchases were for truck crossover and truck segments. In addition to its members showing the most interest in the crossover and truck segments last month, Costco said October also included the highest registration day for a promotion. […] [Read More]

Cars.com on Monday announced the appointment of Brooke Skinner Ricketts as chief marketing officer, effective immediately. Skinner Ricketts most recently served as vice president of brand and design at Avant. Prior to that she was head of brand strategy at Twitter. “Cars.com is here to help people win, and by welcoming Brooke, we’re delivering on that promise,” […] [Read More]

On Thursday, Group 1 Automotive announced the appointment of Charles Szews to its board of directors. Szews joins eight other directors on the company’s newly expanded board. "Charlie brings strong leadership, experience managing global businesses, and expertise in capital allocation and generating shareholder value," said Earl Hesterberg, Group 1 president and chief executive officer. For close […] [Read More]

In a development relevant to dealerships of all sizes, the Federal Trade Commission on Thursday announced final amendments to its Used Car Rule. The FTC sought public comments on a series of proposed changes to the rule  — formally known as the Used Motor Vehicle Trade Regulation Rule — that requires dealers to display a […] [Read More]

Cox Automotive has three events remaining in its 2016 Interactive Dealer Summit and Elevate program series. Each event is designed to help dealers attain profitability and advance their wholesale and retail operations in the face of declining margins and growing consumer expectations for the buying experience. The lineup includes: — The Philadelphia Interactive Dealer Summit in […] [Read More]

On Tuesday, Autotrader shared its favorite certified pre-owned November special deals and offers available to shoppers through the end of the month. "Holiday shopping can put a pinch on budgets, and the potential problems associated with used vehicles can make shoppers wary," said Brian Moody, executive editor at Autotrader. "That's where certified pre-owned cars and […] [Read More]