Continuing a “normal pattern of stability,” the franchised auto dealer count in the U.S. climbed modestly in the first half of the year, with 98 percent of markets showing no real change, according to Urban Science. The firm’s 2017 mid-year Automotive Franchise Activity Report indicates there were 18,199 dealership rooftops as of July 1. That’s […] [Read More]

The method Penske Automotive Group plans to continue using to fill inventories at CarSense — its standalone used-vehicle retail locations primarily in the Northeast with intensions on expanding — should delight auction general managers who see buyers for this dealer group mingle in their lanes. Chairman Roger Penske said during the company’s latest conference call […] [Read More]

Auto/Mate Dealership Systems recently unveiled a new texting engine built into its dealership management system designed to help dealers quickly communicate with customers. Sales and service departments can use the new texting engine for a variety of customer experience related functions, according to Auto/Mate. "Auto/Mate’s Texting is simpler and far less expensive than most tools currently […] [Read More]

Copart recently announced the opening of a new location in Andrews, Texas, growing its footprint to a total of 16 locations now operating within the Lone Star State. Auctions will occur regularly every Wednesday at the new location. The Andrews location will hold its first live online car auction on Wednesday at 12 p.m. (CT), […] [Read More]

For the second consecutive year, ADESA Winnipeg has been named the National Auto Auction Association's Eastern Chapter Auto Auction of the Year in recognition of its public service. The auction has planned and participated in more than 55 events to raise over $3.5 million for various regional causes, according to NAAA. “It's my privilege to […] [Read More]

Auto Remarketing confirmed multiple online reports from Atlanta-area media outlets that Cox Automotive is reducing its global workforce by nearly 1,000 employees, but the company said it does not “anticipate any additional large-scale reductions.” The reports first surfaced late on Friday afternoon, and Cox Automotive corporate spokesperson Lou Laste replied to a Monday morning inquiry […] [Read More]

Answering questions such as "What's needed to complete this customer's financing?" appears to be a main theme of which finance companies scored well in the J.D. Power 2017 U.S. Dealer Financing Satisfaction Study and which ones did not. Analysts determined great relationships trump low interest rates and product mix when it comes to dealer satisfaction with […] [Read More]

On Monday Capital One announced that the finance company provided a $23 million floorplan line of credit to Johnny Londoff Chevrolet, a second-generation family owned dealership that has been in business for more than 60 years in Florissant, Mo., a suburb of St. Louis. “We’re thrilled to expand our relationship with Londoff Chevrolet and provide […] [Read More]

J.D. Power said Monday morning it has rolled out a Used Vehicle Price Index Service that provides a monthly index monitoring current wholesale used-car prices and forecasting future movement. The analysis is done on both an industry and segment level. The company said it can forecast prices as far out as two years.  “Lenders, manufacturers, […] [Read More]

Seeking shelter from volatile residual values, rental car companies are selling more retired rental vehicles directly to dealers and consumers through non-auction sales channels. Avis Budget Group Inc. and Hertz Global Holdings Inc. said during their respective first quarter conference calls that per-unit fleet costs rose substantially in the quarter because of lower-than-expected used-vehicle values […] [Read More]