Mike Darrow will become the president of ALG on Monday, as current president and TrueCar co-founder Mike Nguyen is leaving the company on Nov. 1. In a news release Friday morning, ALG — which is a subsidiary of TrueCar — said Nguyen will remain with the company as a strategic advisor until he leaves. Nguyen co-founded […] [Read More]

There was a 1-percent hike in used-vehicle retail sales in 2017, according to Cox Automotive, which reported the year ended with 39 million used cars sold. And look for more growth this year. The company is anticipating 39.5 million used-car retail sales in 2018. As for 2017, the year closed with used-car sales climbing 4 […] [Read More]

As plush as showrooms can be sometimes, consumers often do not want to spend hours finalizing vehicle delivery, so Chase and AutoFi are collaborating to help dealers. On Thursday, Chase announced a partnership with AutoFi, a financial technology company that helps customers select and finance vehicles through their dealers’ website and reduce the time it takes to […] [Read More]

Manheim announced Thursday that its Ready Logistics and Central Dispatch solutions for dealers and commercial clients who want to transport vehicles saw significant growth last year. Ready Logistics moved over two million vehicles last year, a 14 percent year-over-year increase; and Central Dispatch supported 6.7 million vehicle moves, an increase of 34 percent year-over-year, according to […] [Read More]

Eddie Castillo, general sales manager for the subprime division for Pine Belt Cadillac in Toms River, N.J., described how much a customer who has completed financing online prior to coming to the dealership improves the entire delivery experience — especially for consumers with soft credit histories. Castillo relayed his experience as SpringboardAuto released results of […] [Read More]

Mercedes-Benz Canada announced Wednesday that this year each of its 11 corporate stores will now report to the newly appointed vice president of corporate retail — Robert Muller. Previously, the company’s seven Toronto Retail Group (TRG) and four Vancouver Retail Group (VRG) locations were managed separately. In December, Mercedes-Benz Canada announced that Muller would succeed Philipp von Witzendorff […] [Read More]

Canadian Black Book’s second-ever release of its Used Vehicle Retention Index points to a wholesale car market that closed the year with quite a punch. Wholesale vehicle values were up 3.8 percent year-over-year in December, keeping alive the used-car price gains from 2010, CBB said. Meanwhile, the 0.6 percent month-over-month increase in values was the strongest […] [Read More]

As independent auto dealers look to bolster their competitiveness and strengthen their performance, many are turning to practices franchised dealers have been using for some time to increase their service business and retain customers. One practice, which automotive consultant Ed French of AutoProfit says “builds the cadence of turn” is to offer buyers prepaid maintenance […] [Read More]

This week, White Clarke Group highlighted that one of its tools is being leveraged by Toyota and Lexus Financial Services throughout the United Kingdom. The captives launched the new NGage system nationwide for instant, seamless and transparent customer finance quotations and agreements. White Clarke said that Toyota and Lexus dealers across the U.K. are making the […] [Read More]

Along with a trio of perspectives from the auction and dealer worlds, the Black Book Market Insights report looking at the first full week of activity in 2018 showed truck segments with larger depreciation than cars. Editors also determined only one vehicle group — subcompact luxury crossovers — maintained its value from the previous week. […] [Read More]