Leaders from Black Book and General Motors Financial recently used the adjectives “steady” and “stable” when describing how the wholesale market is behaving. The latest Black Book Market Insights report indicated used vehicles across most segments are depreciating at a “steady” rate. Editors determined only two vehicle segments — compact vans and sub-compact luxury crossovers […] [Read More]

To use sports analogies, the letter might be a Hail Mary on the last play of a football game or swinging for the fences with two outs in the bottom of the ninth inning of a baseball game. On Monday, Consumer Financial Protection Bureau director Richard Cordray penned a one-page, five-paragraph letter to President Trump, […] [Read More]

CDK North America will have a new president on Dec. 1. Current executive vice president of business transformation Daniel Flynn is succeeding Robert Karp, who is leaving CDK. CDK Global announced the changes Tuesday. “Dan Flynn is a seasoned operating executive who has seen significant success bringing process, discipline and rigor to the execution of […] [Read More]

In the words of General Motors Financial president and chief executive officer Dan Berce, the paper the captive is adding “continues to skew to more prime originations.” Berce made his latest proclamation when GM Financial shared its third-quarter results, which included $2.2 billion of prime originations. As Berce explained during the company’s latest conference call, […] [Read More]

CarMax chief operating officer Cliff Wood will retire by the end of next summer, the company said Monday. Taking on the COO role at that point will be Ed Hill, who has been CarMax’s executive vice president, strategy and business transformation since 2016. Wood has been with the company since 1993, when he was a […] [Read More]

GM Financial announced Monday that it has chosen the Ronald McDonald House at Boston to receive a vehicle as apart of its Cool Cars for Remarkable Kids program. The Ronald McDonald House at Boston Harbor is the 18th Ronald McDonald House to receive a vehicle since the program launched earlier this year. This month, GM Financial also […] [Read More]

While Group 1 Automotive watched some rebounding happen in Texas, the dealer group also cheered what’s occurring on its international fronts, especially in the United Kingdom. As the nation’s new-vehicle sales declined nearly 9 percent as a whole during the third quarter, Group 1 posted a 2.9-percent sales increase on a same-store basis. Also of note, […] [Read More]

The significant damage Hurricane Harvey left in Texas gave Group 1 Automotive the opportunity to watch new and used vehicles roll over the curb at daily sales rates during the last three weeks of September that “were the highest we have ever seen,” says president and chief executive officer Earl Hesterberg. During the dealer group’s third-quarter […] [Read More]

Compared to recent years, used-vehicle values were unusually strong in the third quarter thanks to Hurricane Harvey, and that should continue to some degree over the last few months of 2017, says Kelley Book Book.  As should demand for replacement vehicles, particularly the pre-owned variety.  One- to 3-year-old vehicles at the end of Q3 were retaining 56 percent […] [Read More]

CDK Global announced last week it has purchased partner program participant and full-service enterprise reporting company Dashboard Dealership Enterprises (DDE). DDE has provided its business analytic reporting suite, Executive Eye, to some of the largest dealership groups in the U.S. and increased its customer base to 600 dealership locations within the last 15 years, according to CDK. As […] [Read More]