Dealers know that competition for retail used-vehicle sales and profits is fierce, and keeping expenses manageable and transaction prices competitive is a never-ending battle. But despite that, many dealers are betting on a strong economy and strong used-car sales this year, and some are even adding stores or refurbishing or replacing existing ones. “Overall, I […] [Read More]

Rapid Recon announced Monday record year-over-year results, reporting overall operation growth of 60 percent last year. In addition to revenue being up 73 percent compared to 2016 and the company deploying 87 percent more systems last year, Rapid Reco’s growth in the independent and buy-here pay-here dealership market has also expanded, according to company founder […] [Read More]

It’s a new year, and FICO is hopeful 2018 will be filled with new customers coming into company portfolios. In an effort to help institutions communicate with this new batch of contract holders, FICO is hosting a free educational webinar focused on sharing best practices in using automated communications throughout the auto finance customer lifecycle. […] [Read More]

Automotive Personnel chief executive officer Don Jasensky offered three options when dealership and auto finance company management teams are faced with the decision of making manpower changes based on performance. Jasensky leveraged his nearly 30 years of experience, acknowledging that, “Every leader has to make decisions regarding underachieving employees.” He continued in a company blog […] [Read More]

Group 1 Automotive announced Friday that it will give its U.S. non-management dealership employees and operational support staff a $500 cash bonus this year, following the recent tax bill that recently became law in December. “As we were in the process of reviewing the opportunities the new tax reform law creates for us to better our business, we […] [Read More]

A free resource to help dealerships manage their compliance responsibilities is now available. Dealertrack recently released its 2018 Compliance Guide, which outlines the changes and updates in compliance that will affect dealers in 2018. Now in its 13th year, the Compliance Guide is a leading resource on current trends and best practices in F&I compliance. […] [Read More]

If you’re in the auto industry, you may have already seen this Autotrader statistic cited in a Fair whitepaper. But it bears repeating, given how illuminating it is. Seventeen of 4,002 consumers surveyed for Autotrader’s 2015 “Car Buyer of the Future” study would rather keep the auto sales process status quo. “And as more smartphone-wielding […] [Read More]

After using over 700 different characteristics to target high-value customers via Semcasting's new patented IP targeting solution, dealers of Luther Automotive Group have seen impressive results over the course of six months. “It’s one thing to attract your own customers to purchase another vehicle, it's a totally different thing to go into the marketplace and […] [Read More]

Perhaps the sarcastic member of your store’s used-car department often has quipped about the base-model version of a vehicle in your inventory, saying, “Well, it’s got a steering wheel!” However, if General Motors receives permission from federal regulators on proceeding with testing its latest autonomous vehicle, your dealership’s resident jokester will have to shelve that […] [Read More]

Runzheimer, a business vehicle technology and solutions provider, combed through more than a half dozen sources — including Manheim, Edmunds, IHS Markit and the National Automobile Dealers Association — to compile its Vehicle Capital Costs Trend Report. Firm analysts cautioned fleet managers and other auxiliary service providers that new-vehicle prices in the U.S. have risen […] [Read More]