Another scathing report originating out of the U.S. House Financial Services Committee again chastised the Consumer Financial Protection Bureau while reminding the agency to consider what it’s like for finance companies that comply with the CFPB’s civil investigation demands, also known as CIDs. Majority members charged CFPB director Richard Cordray for contempt of Congress due […] [Read More]

Carvana said Tuesday it has purchased Carlypso, another disruptor in the auto retail space. Carlypso began as a peer-to-peer car-selling service, eventually becoming a managed marketplace where consumers could access wholesale vehicles directly, Carvana explained in a news release. The companies did not disclose terms of the transaction. Carvana has brought Carlypso co-founders Chris Coleman […] [Read More]

If there is a groundswell of momentum for Bob Wolfsen’s Auto Auction In The Round concept — which has earned a patent from the United States government — auctions could physically look much differently than they do today. Walk into most auto auctions today and the arena where the sales happen has a familiar appearance: […] [Read More]

In time for end-of-summer shopping, Cars.com recently released a list of the most popular convertibles among consumers. The site’s latest study on shopper's online activity revealed what convertibles are most popular and where in the U.S. shoppers are buying these models most. Turns out, being named as America's favorite was the Chevrolet Camaro. And the state where convertibles are most popular […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features. Next up in this series is Reuben Muinos, senior director of business development for DealerSocket.  The emailed Q&A is below:  Auto Remarketing: General Motors […] [Read More]

After buying a Pittsburgh dealer group this spring, Lithia Motors turned its attention to the West Coast with its latest acquisition. The retailer announced Tuesday it has purchased Downtown Los Angeles Auto Group. The California group, also known as DTLA, includes Audi, Mercedes-Benz, Nissan, Porsche, Toyota and Volkswagen dealerships located in downtown Los Angeles plus […] [Read More]

As consumers head out this month to shop for coveted back-to-school season items, Autotrader has come out with its top picks for certified pre-owned deals in August, which features long warranty term offerings from Jaguar and its sister brand, Land Rover. "Going CPO is a great option for car shoppers looking to get a lot while […] [Read More]

Along with an update on the specialty markets, Black Book also shared the significant difference in how much car prices depreciated last week versus trucks. The latest Black Book Market Insights report indicated cars overall decreased in value by 18 percent more than trucks. Out of all vehicle categories, editors noticed midsized cars saw the […] [Read More]

GWC Warranty this week announced details of its first-ever Elite Dealer Conference. The Elite Dealer Conference offers 60 dealers and their guests the opportunity to venture to some of the world’s most picturesque destinations. “It’s our partnership with our Elite Dealers that has helped GWC Warranty become the largest and best-in-class used vehicle service contract […] [Read More]

New research shows the United States is a model for how used vehicles can be a profitable industry growth segment for other places in the world, including the use of certified pre-owned programs. Strategic consultancy firm Frost & Sullivan cited four reasons why the used-vehicle market in Latin America is “transforming.” While noting factors common […] [Read More]