LEXINGTON, Ky. — The social media buzz has been around for a while. Facebook recently announced it has reached half a billion users, and you still think that social media is a fad? How could that possibly be since almost all dealerships have been practicing social media since the beginning of the automotive industry? Now I will […] [Read More]

DALLAS — Liquid Motors recently rolled out its package of marketing applications so dealers can better harness the capability of Facebook. The SocialFuel Facebook Marketing Applications include SocialFuel Inventory, SocialFuel FanBuilder, SocialFuel Coupons and SocialFuel New Car Research. The company explained SocialFuel Inventory can allow dealers to display inventory, photos and videos on their Facebook page […] [Read More]

ATLANTA — AutoTrader.com is using its site to help garner more support for St. Jude's Children's Research Hospital. How is the company doing this? It announced that visitors to the site will see special display ads with "donate now" throughout the site that highlight the work of St. Jude. Also, people who purchase advertisements to sell […] [Read More]

SANTA MONICA, Calif. — On average, the price of a three-year-old used car is 11.1 percent higher than it was last year, and General Motors has some of the most dramatic examples of this trend, according to Edmunds.com.  In fact, all types of used cars are up 5.5 percent. The normal trend is usually just 3.5 […] [Read More]

CERRITOS, Calif. — Cerritos Dodge Chrysler Jeep is situated on a 100-acre auto mall in Los Angeles County that includes 27 dealerships and loads of competition in the backyard of the nation's second-largest city. The dealership shares the same street as stores representing such brands as Nissan, Honda, Toyota and Chevrolet, among others. So, one way that […] [Read More]

OTTAWA, Ontario — In what has been fairly typical over the last decade, Canada's total insolvencies fell from April to May, this time dipping to 11,526 filings, a drop of 11.3 percent, according to the Office of the Superintendent of Bankruptcy Canada. Seven of the past 10 years have seen total insolvency filings decrease from April […] [Read More]

EDMONTON, Alberta — Carfinco Income Fund, a non-prime auto lender, enjoyed an all-time high in quarterly net earnings for the fifth straight time. The second-quarter net earnings of $4.3 million were up from the previous record of $3.6 million set in the first quarter of this year and marked a 144-percent year-over-year increase. Starting with the second […] [Read More]

EDMONTON, Alberta — AutoCanada's existing credit facility with HSBC Bank Canada has been beefed up and the interest rate on the facility has been cut, the company announced this week. The revolving term loan facility now has availability of $30 million, up from $20 million previously. The interest rate on the facility is now HSBC Prime Rate […] [Read More]

McLEAN, Va. — The average price that new-car dealers fetched for a used-vehicle on the retail market in 2009 dipped about 1.5 percent from the prior year, according to the NADA DATA 2010 report compiled by the National Automobile Dealers Association. Specifically, NADA noted that average used retail price was $14,976, compared to $15,201 in 2008. […] [Read More]

CHARLOTTE, N.C. — In a quarter that saw the company record its best-ever period for used-vehicle volume and used gross profit, Sonic Automotive's adjusted earnings from continuing operations climbed 41 percent. Specifically, these earnings were at $15.6 million for the second quarter, compared to $11.1 million in the year-ago period. Net income was $14.8 million, up […] [Read More]