Like KAR Auction Services noticed as well, both Cox Automotive and J.D. Power Valuation Services are watching closely how Hurricanes Harvey and Irma are impacting used-vehicle prices in September. And evidence is prompting analysts to modify their expectations for where the price readings might be by the end of the month. According to a note shared […] [Read More]

Because of the Federal Reserve’s view of realized and expected labor market conditions and inflation, a unanimous vote of the Federal Open Market Committee decided to maintain the target range for the federal funds rate at 1 percent to 1.25 percent, according to an announcement policymakers made on Wednesday. Fed chair Janet Yellen explained the […] [Read More]

While NADA Show 2018 takes place during the height of college basketball’s March Madness championship run, one of its five keynote speakers has a few rings of his own from the college football world. On Thursday, the National Automobile Dealers Association announced the keynote speakers for its annual convention, and Alabama football coach Nick Saban […] [Read More]

The Serpa Automotive Group has launched its new Serpa Automotive Boutique, which specializes in helping professionals find, purchase and arrange the delivery of hard-to-find luxury marques and rare models. Shoppers can either visit the store or go online to have Serpa Automotive Boutique begin locating vehicles among various brands and dealers. Serpa Automotive president Frank […] [Read More]

With hundreds of thousands of vehicles potentially impacted by Hurricanes Harvey and Irma, the destruction from the storms and its effects on the car business is multi-faceted and complicated, to say the least. One head-scratcher that comes to mind: What happens to cars that were previously certified pre-owned but sustained damage during the storm? “You’re […] [Read More]

The data points Cox Automotive found through its dealership staffing study are startling. Stores have a 67-percent annual turnover rate among its sales teams, and the average cost of hiring a new dealership employee is $10,000. Perhaps one of the primary reasons dealerships are burdened by those personnel challenges is connected to training — or […] [Read More]

Larry H. Miller Dealerships announced Wednesday that it collected nearly $23,500 in school supplies during the company’s “Stuff for Students” campaign this summer.  Throughout August, 11 participating LHM dealerships’ stuffed a vehicle with much-needed school supplies. In partnership with 9News, Volunteers of America Colorado Branch (VOA) and other business partners, the company collected enough supplies to […] [Read More]

On July 10, the Consumer Financial Protection Bureau (CFPB) issued a rule banning companies from denying arbitration to groups of people. And, if everything passes, the law should go into effect in September. For auto retail dealers and lenders, this change is just one more turn of the screw clamping down on the ability to […] [Read More]

Safe-Guard Canada recently announced it has appointed Richard Comrie as national account manager to oversee client relationship management and business development. Comrie most recently served as the director of new business development for LGM Financial Services. Comrie has spent more than 25 years in the finance and insurance industry, with a focus on business development, customer […] [Read More]

Hurricane Harvey landed in Texas with a week left in August, and its flooding left an immediate impact on wholesale price movements for the month, according to KAR Auction Services chief economist Tom Kontos. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class released on Wednesday, wholesale used-vehicle prices […] [Read More]