The Michigan Economic Development Corp. (MEDC) this week highlighted the investment and additional personnel Credit Acceptance plans to leverage going forward. Because, state officials said, the subprime auto finance company “is experiencing significant growth and needs to expand its facilities in the city of Southfield,” Credit Acceptance plans to invest $33 million in its infrastructure […] [Read More]

Reynolds and Reynolds announced late on Thursday that president Ron Lamb has stepped down, effective immediately.  The dealership management system provider said Lamb plans to pursue opportunities in private equity and that the position will not be immediately filled. In making the announcement, Reynolds chairman and chief executive officer Bob Brockman said, “Ron has made […] [Read More]

The National Automobile Dealers Association and the NADA Women Directors, in partnership with Junior Achievement USA, is teaching financial education courses to students through a volunteer program. The initiative, termed the NADA Financial Literacy Program, was launched during the NADA Convention in New Orleans in January. It grew from insight gathered over the past few […] [Read More]

A recognized thought leader in the world of brand leadership, innovation and social influence marketing, Sean Moffitt, managing director of Wikibrands, has been involved with digital marketing for the past 15 years. He co-authored the best-selling book Wikibrands with Mike Dover and helped turn it into a living, breathing customer engagement hub and consultancy. The […] [Read More]

A deeper look into the latest certified pre-owned vehicle sales information compiled by Autodata Corp. showed eight automakers that often generate some of the largest CPO volume are off to strong starts again in 2017. Of those eight OEMs, each one has posted year-to-date CPO sales gains of at least 8 percent. Leading the charge […] [Read More]

Automotive industry veteran Richard Howse has joined KAR Auction Services as its new chief commercial officer, the company announced on Wednesday. Most recently, Howse served as senior vice president of marketing and business development at Volkswagen Credit. Howse’s automotive industry leadership background spans over 30 years. “Rich has led growth and change in a variety […] [Read More]

RVI Group’s latest analysis of the Canadian wholesale market indicated used-vehicle prices declined in January. Looking first at the real view of the RVI Used Vehicle Price Index for January, analysts noticed a decrease of 2.4 percent from January of last year. Turning next to the nominal of their Used Vehicle Price Index, analysts determined […] [Read More]

The amount of debt consumers are absorbing to acquire a new or used vehicle reached record highs during the fourth quarter, according to the latest State of the Automotive Finance Market report from Experian. With consumers turning to longer-term contracts to help reduce costs of monthly payments, Experian reported on Thursday the average contract amount […] [Read More]

While industry observers spotted some factors impacting new-car sales, franchised dealerships produced strong results in moving certified pre-owned vehicles as the industry generated nearly a double-digit gain on a sequential basis. According to information supplied by Autodata Corp. on Wednesday, February’s CPO sales came in at 211,475 units; a figure relatively unchanged from the same […] [Read More]

Industry observers see trends in the new-vehicle space that are making the delivery of new metal more challenging and, as a result, likely to impact how efficiently dealerships can turn their used-vehicle inventory. Analysts from Autotrader, Edmunds and Kelley Blue Book all shared data and insights with Auto Remarketing on Wednesday that pointed to possible […] [Read More]