Evidently, dealers are not rushing to the lanes to acquire inventory like consumers are hurrying to retail stores and websites to purchase holiday gifts. Multiple Black Book representatives stationed at sales noticed lighter buying activity even as analysts spotted wholesale prices falling at rapid paces. Black Book executive vice president of operations Anil Goyal elaborated […] [Read More]

Recent Federal Reserve data shows that more than 4 million Americans are more than 90 days late on their car loan payments. There are many reasons someone may default on an auto loan: job loss, health emergency or an expensive car repair. And as the U.S. Financial Diaries project demonstrated, Americans face increasing income and […] [Read More]

One of the primary capital providers for buy-here, pay-here dealers not only in the Lone Star State, but elsewhere nationwide, is merging with another bank in Texas. On Monday, Texas Capital Bancshares, the parent company of Texas Capital Bank, and Independent Bank Group, the holding company for Independent Bank, announced that they have entered into […] [Read More]

Kelly Blankenship and Richard Hudson from Ignite Consulting Partners shared valuable advice designed to help dealerships, finance companies and other service providers within the automotive industry. Blankenship and Hudson discussed ways that can prevent a consumer complaint from swirling into an online firestorm. Nick Zulovich shared the conversation earlier this fall when the National Independent […] [Read More]

In winning the category of Best National Auction Performance as part of Chase Auto’s “Chase Cup for Auction Excellence” awards, Manheim Minneapolis stood out among other competitors with a balanced performance showcasing value in vehicle reconditioning, number of buyers, condition report accuracy and overall financial results. Manheim Minneapolis was one of nine auctions nationwide to […] [Read More]

Tier One Executive Search, which has focused on the automotive and manufacturing sectors for 20 years, said on Monday that it has named Elliott Duda as director of the company’s North American Retail Automotive Practice. Tier One senior partner Mark Thibodeau said in a news release that Duda has performed well on the manufacturing side […] [Read More]

Mercedes-Benz and Bosch have been working together for more than two years to develop products for automated driving in cities. Now, the two companies say their joint project has entered a new stage. The companies have launched the project, which includes an app-based ride-hailing service using automated Mercedes-Benz S-Class vehicles, in the city of San […] [Read More]

Dealers are seeing their used-vehicle inventories grow, and for independents in particular, that is helping to create a rosier outlook. That was one of several findings in the Q4 2019 Cox Automotive Dealer Sentiment Index released Monday, which among other areas, covered the used-car operations of both franchised and independent dealers. Discussing overall results, Cox […] [Read More]

Mike Dullea says AutoAlert has been looking at ways that OEMs could “manage incentive spend.” “What will move the consumer to buy, while improving the overall journey and increasing profits?” said Dullea, who is AutoAlert chief executive officer. “That’s the answer AlertOptics provides,” he said in a news release, noting that “it comes down to […] [Read More]

If you work at a Honda store or your dealership is closely competing against one, there’s a good chance the new vehicles being delivered at that rooftop are connected to a lease. According to Experian’s Q3 2019 State of the Automotive Finance Market report, analysts determined three of the top 10 new models leased during […] [Read More]