Chase Auto Finance will continue to be a captive-like provider for a luxury brand. On Tuesday, Chase and Jaguar Land Rover North America announced the renewal of their private-label agreement, extending Chase’s role as the private-label finance provider for the manufacturer. For the last decade, Chase Auto has been the private-label finance provider for Jaguar […] [Read More]

New leadership officially took control of the Federal Trade Commission. Earlier this week, Joseph Simons was sworn in as chairman of the FTC. President Trump named Simons, a Republican, to a term on the commission that expires Sept. 25, 2024, and designated him as chairman. Simons was confirmed by the U.S. Senate on April 26. […] [Read More]

Add this to the blossoming list of providers in the car subscription market: one of the nation’s largest luxury car dealer groups. Park Place Dealerships launched a subscription service Tuesday, saying it is the first dealer group in Texas to do so. Park Place Select will include three tiers of subscriptions, based on the needs […] [Read More]

As several pieces of its inventory sit inside Manheim San Diego, Shift Technologies' has plans to utilize additional Manheim facilities in other West Coast markets by year-end. Just weeks after announcing that it will use Manheim facilities services to avoid the sizable overhead costs associated with retailing vehicles, Shift is looking forward to entering more markets with Manheim operations. […] [Read More]

The term “missed connection” is often associated with airport hassles and personal ads in the newspaper (well, maybe on smartphone apps, these days). But it may also apply to squandered opportunities for dealers to reach car shoppers. And a new report from Kijiji released Thursday suggests there are three key “missed connections” between consumers and dealerships […] [Read More]

A pair of top Sonic Automotive executives reiterated the potential of its chain of dedicated pre-owned stores — EchoPark — not just because of the project’s capability of retailing used vehicles for a strong margin and building long-standing customer bonds. Furthermore, the top Sonic brass is pushing resources into EchoPark because requirements from automakers about […] [Read More]

Cars.com has brought aboard a new senior vice president of technology to oversee company data engineering, platform engineering and mobile applications. Chosen for the position is Fred Lee, who most recently served as chief technology officer at Gamut.com, the company announced Tuesday. In addition to developing Gamut’s enterprise resource planning, order fulfillment and CRM, Lee […] [Read More]

Dealers who use XLerate Group to acquire their inventory now have more financing flexibility. XLerate Group announced on Tuesday that dealer floorplan company XLFunding is now available at all of its auction locations. XLFunding is a full-service flooring company with flexible tiers, local title services and a simple credit line process for dealers. As part […] [Read More]

As an online survey conducted by Equifax showed more insight into how consumer might be haggling at the dealership over vehicle price and other contract terms, the costs those buyers are absorbing continues to climb, especially for new vehicles. In April, interest rates on new-vehicle financing remained at elevated levels not seen since before the […] [Read More]

Along with rolling out a new tool to help dealers find those “cherries” for their inventories, Black Book also released its Used Vehicle Retention Index for April showing that it remained unchanged from the previous month. Editors indicated the index stayed at 112.0, while the reading has softened by 1.0 percent over the past 12 […] [Read More]