Carvana founder and chief executive officer Ernie Garcia is confident that the online used-vehicle retailer will have turned at least 10,000 units by the time the second quarter closes at the end of the month. And Garcia is upbeat that the gross profit per unit will be about $1,400. “The path to profitability is clear,” […] [Read More]

SoCal Penske Dealer Group announced it acquired the Fuller Ford, Fuller Honda, Fuller Kia and Fuller Collision Center in Chula Vista, Calif., further expanding its footprint in the Southern California market. The former Fuller locations have been rebranded as Penske Ford Chula Vista, Penske Honda Chula Vista, Penske Kia Chula Vista and Penske Collision Center Chula Vista. […] [Read More]

While lawmakers from opposing parties either cheered or jeered the vote tally, industry advocates from the banking, financial services and dealership communities on Thursday all applauded the U.S. House of Representatives for passing H.R. 10, the Financial CHOICE Act.  The measure is a comprehensive financial reform bill that includes what one group called “significant and much-needed […] [Read More]

This week, RouteOne highlighted that its eContracting platform reached a new milestone with 7.5 million booked eContracts. The threshold resulted in more than $200 billion in funded deals. RouteOne indicated the growth can be attributed to the rising adoption by: • More than 6,000 active eContracting Dealers • 36 live and in-pilot eContracting finance sources […] [Read More]

AutoPacific announced its 21st annual Vehicle Satisfaction Awards, which recognize the most satisfying vehicles in the market. Winners are selected by measuring how satisfied car owners are with their new vehicle. Over 54,000 owners of both new 2016 and 2017 makes and models were surveyed. "This is the 21st anniversary of AutoPacific identifying the most […] [Read More]

In Episode 6 of the Auto Remarketing Podcast, Joe Overby chats with Brian Benstock — vice president and GM of Paragon Honda & Paragon Acura — about Paragon Direct, the group's vehicle ecommerce and service platform. Brian offers his take on the role of dealers in digital retailing and more.  Download and subscribe to the Auto Remarketing […] [Read More]

This month, automakers' certified pre-owned programs carry a number of attractive and competitive deals, including some Autotrader says are traditionally offered solely to new car buyers. "If you're shopping on a budget, there are some great deals to be had among the many certified pre-owned offerings this month," Autotrader executive editor Brian Moody said in […] [Read More]

As part of the Executive Issue special section in the May/June edition of the Auto Remarketing Canada magazine, we connected with Mercedes-Benz Canada president and chief executive officer Brian Fulton. The emailed Q&A covers Fulton's approach to leadership, the company being named a top workplace, its used-car operations and more.  Auto Remarketing Canada: Congrats on Mercedes-Benz Canada being recognized […] [Read More]

Dent Wizard International announced it has promoted a new director of operations for Canada.  Chosen for the position is Matt Boyd, who was most recently the company’s national sales manager in Canada. Boyd is one of Dent Wizard’s most seasoned and experienced veterans and he has been brought on to apply his substantial automotive knowledge and […] [Read More]

According to the latest TransUnion Canada Industry Insights Report, auto financing continues to be one of the fastest growing segments in the Canadian consumer credit marketplace. During the first quarter of this year, average outstanding balances rose 2.75 percent year-over-year. At the same time, analysts noticed that serious delinquency rates — what they consider to […] [Read More]