Granted, March tends to bring the year’s best certified pre-owned sales results anyway, but the CPO market was especially impressive last month, showing no signs of leveling off.   In fact, last month had the strongest CPO sales total of all time, according to Autodata Corp., which said dealers moved 258,970 certified vehicles in March. […] [Read More]

Dent Wizard International announced Thursday that it has promoted company chief operating officer Mike Black to chief executive officer.  Black succeeds former Dent Wizard CEO, Terry Koebbe, who will advise the senior management team and help with merger and acquisition efforts as company chairman. “Mike has done an incredible job in his seven-plus years as […] [Read More]

According to Statistics Canada, the average Canadian household spends an average of $11,000 annually on private transportation. Vehicles are typically the second most expensive asset owned, after a home, and buying a vehicle is a significant event in a person’s life. Through the car-buying process, Canadians want trust, reliability and an agreement that they’re comfortable […] [Read More]

What dealers are experiencing in the lanes during the spring market didn’t exactly show up in the latest Black Book Used Vehicle Retention Index. Black Book released its Used Vehicle Retention Index for March on Thursday, showing that it fell 1.2 percent for the month to register at 112.0, down from the February reading of […] [Read More]

The American Bankruptcy Institute highlighted that filings softened year-over-year in February but marked a sequential rise. According to data provided by Epiq Systems, ABI indicated total bankruptcy filings for February decreased 3 percent versus the same month last year. The 56,694 total filings in February were down from the 58,392 total filings during in February […] [Read More]

Cox Automotive Canada announced Monday that a new partnership with Otolane allows dealers throughout Ontario and Quebec to co-list pre-owned vehicles with both Manheim.ca and the Otolane digital marketplace. Montreal-based Otolane facilitates the selling process via a platform that provides real-time 60-minute online auctions under a unified cloud environment. The digital marketplace also features helpful […] [Read More]

As Edmunds spotted interest rates on new-vehicle financing climbing to the highest level in nearly a decade, the latest auto finance data from Equifax showed severe delinquency edged up only slightly in February. According to information shared this week with SubPrime Auto Finance News, Equifax determined the severe delinquency rate — the share of balances […] [Read More]

To borrow a phrase from vehicle delivery vernacular, the acquisition of Trend Financial by Axis Auto Finance “rolled over the curb” this week. According to a news release, Axis said its acquisition of all of the issued and outstanding securities of Trend closed on Monday. “The closing of the Trend acquisition creates a powerhouse in the […] [Read More]

An initial public offering and “growth through acquisition” are on the radar for new J.D. Power new chief executive Dave Habiger Seated in front of a smattering of media members during an informal press briefing here at the J.D. Power Automotive Summit on the day after he was announced as the new CEO last month, Habiger said the […] [Read More]

Along with recapping some of the full-year used-vehicle metrics he discussed during NADA Show 2018, KAR Auction Services chief economist Tom Kontos also pinpointed wholesale price movements for February. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used-vehicle prices in February averaged $10,707, which was 2.5 percent […] [Read More]