Used-car prices remain “stronger than expected” and have edged up from year-ago levels. But they could fall by nearly 6 percent over the next two years, according to the latest RVI Quarterly Risk Outlook report, which cited a plethora of inventory and incentives as the key drivers. As for the latest pricing activity, May’s real […] [Read More]

DealerStar DMS is the latest company to be certified by DealerSocket CRM for integration. To save both time and double entries, automotive dealerships can now push a deal from DealerSocket directly to the DealerStar DMS in real-time. With dealership’s vehicle inventory plus service and sales history from DealerStar, DealerSocket CRM users can use insights gained […] [Read More]

Auto defaults dropped last month for the third consecutive month as the May reading now has settled below the 1-percent mark for the fourth year in a row. According to data through May released by S&P Dow Jones Indices and Experian, the auto finance default rate dropped 6 basis points from the previous month to […] [Read More]

While new-vehicle owners overwhelmingly favor SUVs, when it comes to the most satisfying popular, non-luxury brand, drivers seems to be more divided in 2018. Following a win from the Korean brand Kia in 2016, followed by a 2017 win from GMC, this year, the American brand has made it on the list again in a three-way tie […] [Read More]

At 78 auction locations, Manheim has invested $400 million to bring its dealer clients simpler transactions and processes. The auction company announced Monday that, with these upgrades, dealers now have access to tools and self-service options for their businesses that are designed to help them work more efficiently and make smarter decisions. “The whole heartbeat of what we were doing […] [Read More]

With a purchase set to close Monday, Zeigler Automotive Group has acquired its fourth Ford store and 26th dealership overall. The Midwestern dealership group said Friday it has officially bought McCarthy Ford of North Riverside from the LeFevour family, which purchased the store in February 2017. The dealership had been Joe Rizza Ford for nearly […] [Read More]

The National Auto Auction Association (NAAA) has invited auctions to take part in this year’s NAAA Auction of the Year Award for Excellence for Community Service contest. Auctions can now nominate themselves or auction group members for honorable volunteer efforts easily from NAAA’s website. In addition to winning $25,000 to gifted to any charity of choice, […] [Read More]

In an effort to further enhance company expansion outside of the country, CARS Recon announced Tuesday that it has selected its chief operating officer to head its new dealer services entity. The company said it has chosen Harold Varvel, who most recently served a COO, to take on the role of managing director of dealer services at […] [Read More]

In a case unrelated to auto finance, a ruling by a New York federal judge released this week found the Consumer Financial Protection Bureau to be unconstitutionally structured; an action that disagreed with the D.C. Circuit Court of Appeals stating to the contrary from earlier this year. Hudson Cook partner Lucy Morris looked to explain […] [Read More]

Independent dealers from Alabama and Maryland received two of the top national honors handed out by the National Independent Automobile Dealers Association. During NIADA’s 72nd annual Convention and Expo in Orlando, Fla., Randy Crump, president of Friendly Auto Sales in Jasper, Ala., was named the 2018 National Quality Dealer of the Year. Krietz Auto, a […] [Read More]