In the Canadian certified pre-owned vehicle market, it was the strongest October on record for Mercedes-Benz, which sold 1,259 CPO units last month. That beats year-ago figures by 11.4 percent and puts the year-to-date tally at 11,906 units through 10 months, a 2.8-percent gain. Likewise, Volkswagen had its strongest October ever for CPO. It sold […] [Read More]

Jasen Rice learned well his lessons as an inventory performance manager for vAuto. He left that organization in 2013 to start Lotpop, a company providing online and on-lot inventory analysis and management services for smaller dealerships. Zach Klempf worked part-time at a dealership while attending Emory University. He “fell in love” with the business, but […] [Read More]

Rick Ricart is now the president of Ricart Automotive Group. He was previously the vice president and director of sales and marketing at the Columbus, Ohio dealer group. Ricart will be among the speakers at Used Car Week next week in Scottsdale, Ariz.  He will be a panelist on the Executive Suite: The View from the Top […] [Read More]

There’s no doubt about the Federal Reserve’s decision revealed this week to leave interest rates as they are at least for the time being. By a unanimous vote, the Federal Open Market Committee decided to maintain the target range for the federal funds rate at 2 to 2.25 percent. Policymakers have one more chance this […] [Read More]

What Locations Services believes is the recipe for success in the repossession and recovery industries includes taking executives from an array of well-known companies such as Ally Financial, PAR North America and Remarketing of America and fueling them with the funding resources from Delaware Street Capital. The result has been a busy year that’s included […] [Read More]

For the 2017 National Independent Automobile Dealers Association Quality Dealer of the Year, having a way to accept cash safely for payments on retail installment contracts is crucial to operating its store efficiently and safety. And now a tool that can help buy-here, pay-here dealerships of all sizes has been enhanced. QuotePro and Fiserv recently […] [Read More]

This week, Equifax and the National Independent Automobile Dealers Association shared noteworthy results from their Q3 Auto Business Outlook, which stems from operators participating in a quarterly survey. Equifax and NIADA highlighted that three general themes surfaced from the latest edition. Those elements included: — Independent dealers remain optimistic heading into 2019. — The buy-here, […] [Read More]

Canada’s Nissan and Infiniti franchised dealerships now have another tool available if they already use solutions from Dealertrack. Cox Automotive Canada’s Dealertrack, in partnership with Nissan Canada Extended Services (NCESI) is launching an eMenu Presentation Platform powered by DealerCorp. NCESI offers extended services and prepaid maintenance plans for Nissan and Infiniti customers through its dealer […] [Read More]

In what ended up being another record for the Manheim Used Vehicle Value Index on the wholesale side, it was a bit of a mixed bag for rates on the used retail sales side during October. Manheim parent company Cox Automotive said in a report on the index that used-car retail sales fell an estimated […] [Read More]

The Boyer Auto Group broke ground on its 10th dealership late last month: Boyer Hyundai, set to open early next summer in Pickering, Ontario. The store will be the group’s second Pickering dealership. The two-story facility will include floor-to-ceiling glass windows and two customer lounges, the dealership group said in its announcement. The new dealership […] [Read More]