The auto-finance industry went to two of the most readily accessible tools it has to complete new-vehicle deliveries in September as transaction prices for new metal continue to stretch buyers’ purchasing capabilities. As J.D. Power spotted incentives climbing to within $28 of an all-time high, Edmunds indicated the average interest rate for a new-vehicle retail […] [Read More]

It’s another value retention record. Canadian Black Book’s CBB Used Vehicle Retention Index market average for August set a new record for two- to six-year-old vehicles at 107.2. That is a gain of 3.7 points from last year at the same time. Also, continuing a positive trend showing a two-point gain across all industry segments […] [Read More]

Maria Soklis says automotive industry leaders believe in the importance of supporting their local communities. “Today, we had the opportunity to do just that — leading by example — to help build homes for Canadian families who need a little support to gain stability and self-reliance,” said Soklis, who is president of Cox Automotive Canada. […] [Read More]

The softening of wholesale prices has accelerated, according to the latest Black Book Market Insights report. Analysts spotted decreases a week ago significantly higher than the average seen during the previous four weeks for both cars and trucks. “Used-vehicle market strength is waning as depreciation rates increased week over week,” Black executive vice president of […] [Read More]

In anticipation of holiday shopping now that October has arrived, the Costco Auto Program Season of Values promotion launched on Tuesday The promotion will be available nationwide through Jan. 2 on qualifying Chevrolet, Buick, GMC and Cadillac cars, trucks and SUVs. For the past 12 years, the Costco Auto Program has been running year-end promotions […] [Read More]

Manheim said on Tuesday that it’s continuing to follow its strategy to promote talent from within the company. As a result, Manheim announced two new general manager selections at locations in the West. Assuming new leadership roles are Eddie Lafferty at Manheim Seattle and Danny Brawn at Manheim Nevada. Lafferty has been named general manager […] [Read More]

Much is happening on Capitol Hill nowadays, but the National Independent Automobile Dealers Association made sure its members are not lost in all activities. Independent dealers from across the nation came out in force to make their voice heard by Congress as the 2019 NIADA National Policy Conference wrapped up last week. More than 225 dealers […] [Read More]

October is here, and for one buy-here, pay-here industry service provider, it’s already tax season. Tax Refund Services, better known as Tax Max, announced on Tuesday that it is teaming up with the Buy-Here, Pay-Here Center on Autotrader. The provider of tax-solution software that can enable dealers to use a shopper’s future or current tax […] [Read More]

The Fair Housing Testing Program conducted by the Department of Justice led to a lawsuit against a Maryland independent dealer. On Monday, officials filed a lawsuit alleging that defendant Guaranteed Auto Sales along with its owner and manager, defendants Kelly Ann West and Robert Chesgreen, respectively, violated the federal Equal Credit Opportunity Act by offering […] [Read More]

Loyal service customers are extremely profitable. Not only do these customers spend their time and money in the service bay, but 55% of used car buyers who service at a dealership will buy their next vehicle there. Although price and speed of service are essential to bring new service customers in the door, it’s your vehicle […] [Read More]