After bottoming out in September, Swapalease.com noticed a rebound in vehicle lease transfer approvals in October. The site reported that vehicle lease credit applicants registered a 55.6 percent approval rate for October. The lease credit approval rate improved over previous month’s rate of just 47.6 percent, which represented the lowest percentage of approval so far […] [Read More]

Continuing a cyclical pattern S&P and Experian analysts have seen for nearly a decade, the auto finance default rate moved higher in October; and actually to the highest level in almost three years. According to the auto finance component of the monthly report from S&P Dow Jones Indices and Experian, October defaults rose 6 basis […] [Read More]

Thanksgiving has always been one of my favorite holidays. A uniquely American opportunity to gather with family, share favorite recipes, and reflect upon all the blessings in your life is a blessing in itself. But this year, I suspect many dealers will experience indigestion around the Thanksgiving table NOT due entirely to green bean casserole. […] [Read More]

Volkswagen Group Canada recently announced that Daniel Weissland will come aboard as president and chief executive officer effective Dec. 1. Weissland most recently served as Audi Canada president and succeeds Maria Stenstroem, who will return to Germany, according to VW Canada. Stenstroem was named the head of Volkswagen Group Canada in 2013 and has been […] [Read More]

Dilawri Group of Companies recently announced it has added one of 64 BMW Newmarket dealerships to its portfolio. The BMW Newmarket location, which represents the fourth BMW dealership for the group, was recently renovated to expand both the showroom and service department, according to Dilawri. “With the addition of BMW Newmarket, we are proud to introduce […] [Read More]

Prior to Used Car Week, we recorded an intervew with a special guest: Ron Smith, the founder of Auto Remarketing and its parent company, S&A Cherokee.  And during Used Car Week, Ron added another title to the mantle: 2017 Auto Remarketing Lifetime Achievement Award, which will now be known as the Ron Smith Lifetime Achievement Award.  Check out […] [Read More]

IntelliChoice, Vincentric and U.S. News & World Report each recognized certified pre-owned program award winners during the Used Car Awards luncheon, sponsored by TradeRev.  The luncheon, which also recognized other dealer-level and industry awards, was held during Used Car Week in La Quinta, Calif., last week. Starting with IntelliChoice, Kia earned honors as the Best Popular Program […] [Read More]

While many Americans might be napping off that extra helping of turkey, car-shopping activity isn’t likely to hit the snooze button on Black Friday. New research from Cars.com indicates that 18 percent of car shoppers say they have more reason to visit dealerships that day. And nearly three-fourths of that crowd (74 percent) say it’s […] [Read More]

Chase Auto Finance honored its 19th annual Chase Cup for Auction Excellence winners at the NAAA Convention in La Quinta, Calif. last week, which was held in partnership with the National Remarketing Conference portion of Used Car Week.  Likewise, also at the convention, NextGear Capital honored another four auctions with the presentation of its fifth annual […] [Read More]

ADESA Buffalo general manager Warren Clauss officially  took over as National Auto Auction Association president at the organization's 69th annual convention in La Quinta, Calif. last week, held in conjunction with the National Remarketing Conference during Used Car Week. Serving with Clauss on the executive board for the 2017-2018 term is president-elect Chad Bailey and […] [Read More]