Wholesale

DEARBORN, Mich. — Ford Credit Canada Limited gained immediately available proceeds of $28 million (CAD) this week after completing a sale of subordinate notes, which were sponsored by Ford Credit Canada Limited, Ford Auto Securitization Trust (FAST). They are backed by a pool of retained conditional sale contracts from Ford Credit Canada, which bought these notes […] [Read More]

OVERLAND PARK, Kan. — NCM Associates today officially launches its NCM Institute Center for Automotive Retail Excellence today, offering dealers a wide variety of programs, including introductory and advanced courses in used-vehicle management, general management, service management, sales management, financial management and e-commerce management. All of the courses are designed to provide comprehensive, real-world strategies tailored to […] [Read More]

PASADENA, Calif. — Rusnak Pasadena Porsche, a part of the Rusnak Auto Group, recently learned its certified pre-owned sales volume was the highest in North America last year. Rusnak officials attributed the success to "paying attention to minor details across all aspects of operations." General Manager Mark Umutyan expanded on that theme. "We went into 2009 […] [Read More]

SANTA MONICA, Calif. — Based on transaction data, current customer and dealer incentives as well as federal tax credits, TrueCar revealed what it believes are the best deals for 2009 and 2010 hybrid vehicles. Taking top spot for the current model year was the 2010 Ford Escape, which surpassed seven other domestic vehicles that TrueCar listed […] [Read More]

CHARLESTON, S.C. — PureCars and Carfax recently entered into a partnership meant to boost the value of a dealer's inventory that's listed on the Web site. The agreement means dealers can give all visitors to PureCars.com free access to Carfax Vehicle History Reports, which they have purchased for their inventory. One dealer shared how this arrangement would be […] [Read More]

CARY, N.C. — The Pre-Owned Automobile Dealers Alliance, a national alliance of dealers and service providers specializing in servicing the pre-owned marketplace, recently added three new Partners to its growing list of industry members.  Black Book, the industry source for timely, independent and accurate vehicle valuation data and Web site-based lead conversion tools; Laser Appraiser, an […] [Read More]

WASHINGTON, D.C. — In yet another example of the government's crackdown on deceptive auto practices, a Wyoming used-vehicle dealer was convicted in a Cheyenne, Wyo., federal court late last week for conspiracy, five counts of odometer tampering and five counts of securities fraud related to fraudulent motor vehicles titles. Randy Lee (aka Jimmy Lee) was found […] [Read More]

RICHMOND, Va. — In what could be a potentially good sign for the used-vehicle industry, CarMax said late last week it looking for candidates to hire for roughly 600 store positions throughout the nation, with a majority being sales jobs. CarMax is also looking to hire in service operations, the business office and purchasing. The company emphasized […] [Read More]

McLEAN, Va. — NADA Used Car Guide is offering a free online seminar this week that can show dealers strategies for improving their appraisal processes. The "Best Practices for a Dealer's Appraisal Process" will be held at 1 p.m. (EST) Tuesday and is designed to demonstrate how vital the right appraisal can be in boosting customer satisfaction […] [Read More]

MISSISSAUGA, Ontario — The ADESA Canada Used Vehicle Price Index declined sequentially for the third consecutive month, as overall auction prices showed a larger than seasonally expected drop. Specifically, ADESA's data — powered by ALG Canada — indicated that the index fell 1.2 percentage points compared to November. "Another consecutive monthly decline in resale prices can be attributed […] [Read More]