When wholesale vehicle buyers feel they did not get what they pay for, they often must go through a cumbersome process to return the vehicle. With a new TradeRev pilot program, buyers can now return vehicles, with “no questions asked.” TradeRev, a business unit of KAR Auction Services, has been piloting what it describes as […] [Read More]

Auto sales have faced slightly downward pressure so far in 2019, especially in April when, according to a May 2 story in Autoweek, U.S. auto sales declined 2.3%, despite having an extra selling day in the month and having the benefit of the spring selling season as an added incentive for car shoppers. With the monthly […] [Read More]

In the current market, revenue opportunities are likely a bit smaller for independent used-car dealers than their franchised counterparts. That said, that may be changing, or perhaps equalizing a bit in the near future. At HGreg.com (as Canadian dealer group Hgregoire is know in the U.S.), president John Hairabedian broke it down like this: “The […] [Read More]

Dave Barrow, owner and president of independent auto dealership Super Dave’s Auto Sales in Dartmouth, Nova Scotia, entered the car business in 2010 with no prior “car experience.”  But that didn’t stop Barrow, previously in real estate, from launching into the auto world in full force. “In fact, I think it was the first time […] [Read More]

Insurance Auto Auctions is expected to officially be an independent, publicly traded company on June 28. Current parent company KAR Auction Services said Wednesday that its board of directors formally approved the separation of IAA from KAR, which will be done through a distribution of all outstanding shares of IAA Spinco Inc. (to be renamed […] [Read More]

For finance companies that like to book as much used-vehicle paper as they can originate, the latest Experian data shows institutions are not having to take on as much risk to fill that portion of their portfolio objectives. Findings from the Q1 2019 State of the Automotive Finance Market report showed that the percentage of […] [Read More]

Group 1 Automotive said this week it has launched an online car-buying platform in the U.S. called AcceleRide that will let shoppers buy new or used cars completely online without leaving home — if they so choose. Consumers can utilize the platform to browse more than 38,000 cars; customize options like vehicle configuration, accessories and warranty […] [Read More]

J.D. Power says its new J.D. Power VIN Values product can help dealers follow a specific strategy so that they know what option content is best suited for their region. The company describes the product as using a vehicle identification number to determine the correct trim level and factory-installed options. That, according to the company, […] [Read More]

Lithia Motors has bought its first store in West Virginia, the dealer group said Wednesday.  West Virginia is now the 19th state in the expanding Lithia network as the company added Ford Lincoln of Morgantown, which was previously named Freedom Ford. The group said the new addition is an example of how Lithia acquires stores “with […] [Read More]

Before Wednesday, Carvana already had a strong presence in Florida. That presence got even stronger as the company announced it would expand in central Florida, offering as-soon-as-next-day vehicle delivery to Lakeland and North Port. Carvana founder and chief executive officer Ernie Garcia said in a news release that some of the company’s earliest markets were in […] [Read More]