Based on preliminary results released Wednesday, Lithia Motors is expecting its same-store used-car unit sales to have increased 4.6 percent in the second quarter. Meanwhile, Lithia is anticipating a 3.8-percent to 4.1-percent increase in used-vehicle retail same-store sales. All this part of a quarter where early indications have Lithia’s net income finishing between $51.5 million […] [Read More]

Recently, I heard about a dealership customer that ended up with a real lemon of a car. During the customer’s short-lease term, she experienced a series of significant mechanical issues. She completed a dealership survey after every service experience, each time expressing frustration about the vehicle’s quality. She was never contacted by the dealership until […] [Read More]

Dealership buy/sell advisory firm Kerrigan Advisors this week hired a new vice president who has been involved in accounting consulting to more than 150 dealerships across the country. Kerrigan Advisors announced that Mercedes Hendricks has joined the firm as vice president, bringing extensive certified public accountant expertise and a deep understanding of the dealership industry […] [Read More]

With Fourth of July influencing the measurements, the newest Black Book Market Insights report indicated both car and truck values remained relatively stable week-over-week. Out of both segments, editors noticed six vehicle categories maintained their values as depreciation was unchanged, with one additional vehicle category, full-size vans, increasing its value by 0.01 percent. “Wholesale prices […] [Read More]

Carvoy has launched Ignite, its newest proprietary product that allows consumers to view live feeds of vehicle availability, get credit approval and schedule delivery online. Ignite also allows consumers to control vehicle pricing by adjusting their preferences, which cause the monthly payments to change in real time, according to the automotive-tech startup. "The best part is […] [Read More]

In a recent study, iSeeCars.com found several 3-year-old vehicles whose respective prices now are about half of what they were when they were new.  These 2014 model-year vehicles are what iSeeCars calls its 11 Best-Bargains list. The automotive data and research firm analyzed over 5.8 million car sales to identify models with the greatest loss in value […] [Read More]

GWC Warranty, a provider of used-vehicle service contracts and related finance and insurance products sold through dealers, has appointed Wendy Pratt as the new associate vice president of strategic alliances. Pratt joined GWC Warranty in 2010 and shortly thereafter was named GWC’s director of strategic alliances. In her previous role, Pratt pioneered new business avenues […] [Read More]

FICO is hosting a complimentary webinar in hopes of giving finance companies guidance on streamlining their collections and recovery processes. During the hour-long session, titled “Integrating Collections and Recovery — From Theory to Practice” that’s set for 1 p.m. ET on July 19, FICO plans to cover a trio of common challenges, including: • Understanding the […] [Read More]

Clearly the industry is “disappointed” that the Consumer Financial Protection Bureau earlier this week issued a final rule prohibiting the use of class action waivers in arbitration clauses. The American Financial Services Association, the National Independent Automobile Dealers Association and the American Bankers Association all used that specific adjective when relaying their reaction to the […] [Read More]

To generate more high-quality conversions for car dealers, LotLinx has expanded its VS product suite with two new CX solutions designed to enhance and customize the customer experience, the company announced on Thursday. The new products include CX – Photo AI and CX – Amplified Mobile Pages. Both have been equipped to extend VIN-specific consumer […] [Read More]