Cox Automotive chief economist Jonathan Smoke emphasized that the statement he was about to make was “not a negative thing.” Smoke and other Cox Automotive leaders were speaking to reporters and others gathered at the company’s Detroit-area offices on Wednesday, discussing Cox's 2019 Mid-Year Review and Outlook report. “The strongest part of the market — from […] [Read More]

This week, SubPrime Auto Finance News secured the affidavit connected with an FBI investigation of a South Carolina Mitsubishi dealership containing scathing details about store management manipulating trade-in values, down payments and income figures in an elaborate fraud scheme that might have impacted at least eight finance companies. Investigators said witnesses who claim to be […] [Read More]

It appears Hoosier State dealers like the tools Dealertrack provides since an endorsement of them now has existed for a decade. According to a news release distributed this week, the Automobile Dealers Association of Indiana (ADAI) has renewed its preferred endorsement of Dealertrack Registration and Title Solutions in a continued effort to bring a modern, […] [Read More]

Group 1 Automotive enhanced its financial resources this week to bolster its inventory and for other projects. The dealer group announced that it has completed a $1.8 billion five-year revolving syndicated credit facility with 23 financial institutions that will expire in June 2024. Group 1 said this facility can be expanded to $2.1 billion total […] [Read More]

In part because of what Mark Seng of IHS Markit describes as better technology and overall vehicle quality improvements, the average age of U.S. light vehicles in operation is back on the rise. According to new research from IHS Markit, the average age of U.S. light vehicles in operation has increased again this year to […] [Read More]

Adding resources and upgrading its account management team, enterprise dealer management system company DealerBuilt has promoted Kathy Henderson to national accounts director. Henderson is responsible for client retention, and she manages account managers who help customers use DealerBuilt’s products and services. DealerBuilt executive vice president Veronica Dunford described Henderson as “an ideal client advocate.” “As […] [Read More]

The past seven days have been quite active at the Federal Trade Commission. The regulator made moves involving credit reporting and active military personnel, took action in connection with an alleged credit repair scheme and worked with and its law enforcement partners for a major crackdown on illegal robocalls. What might be most pressing for […] [Read More]

Oftentimes, one of the sharpest tools in a buy-here, pay-here dealership’s arsenal is using GPS devices to track their collateral in an effort to maintain contact with customers or begin the repossession process. But what if GPS suddenly became unavailable because of a global outage? A comprehensive study conducted by RTI International (RTI), a nonprofit […] [Read More]

The Dilawri Group is leveraging technology in an effort to have a single tool to manage, develop and grow their employees. The group operating 72 franchises and employing more than 4,000 individuals recently chose HR4 as its exclusive HR and employee engagement software partner. According to a news release, Dilawri is on a mission to […] [Read More]

Calgary-based Foundation Automotive Corp. has broadened its presence and entered the U.S. market, buying five stores throughout Texas and North Dakota. In what the company calls “just the beginning” of its growth plans this year, Foundation has purchased: — Henson Ford, Henson Chevrolet Buick GMC and Henson Chrysler Dodge Jeep Ram in Madisonville, Texas — Kupper […] [Read More]