AutoNation chairman and chief executive officer Mike Jackson is confident two of the most important used-vehicle performance metrics — volumes and gross profit per unit — will both improve during the second quarter. According to AutoNation’s first-quarter figures shared on Tuesday, the dealer group reported gains in retail volume but softening in gross. As a […] [Read More]

An online booking platform for luxury car rentals is gaining more financial steam to match the type of vehicles it offers to clients. CarHopper — which offers Ferraris, Bentleys, Lamborghinis and McLarens to customers in five different cities known for this kind of luxury — announced on Tuesday it has raised $1.5 million in seed […] [Read More]

The certified pre-owned market in Canada appears like a healthy one for those reporting monthly and quarterly sales to Auto Remarketing Canada. Starting with Audi, not only was March its best-ever month, the first quarter was Audi’s best-ever start to a year, the company said. Audi’s CPO sales climbed 38.5 percent year-over-year, with 727 units […] [Read More]

The National Automotive Finance Association is organizing the 21st annual Non-­Prime Auto Financing Conference with the same mandate organization leadership has held for more than two decades. “This is the industry event where all the non-­prime auto financing company executives gather for information on the most relevant issues affecting non-prime financing, where vendors servicing the […] [Read More]

Seeing an industry disruptor like Carvana file for an initial public offering isn’t necessarily something that gives Mark O’Neil pause. Such momentum by an online retailer is perhaps a sign that consumers are heading toward the ecommerce route. Getting away from the profitability aspect, folks gravitate to entities like Carvana “because they offer a process […] [Read More]

On Monday, Element Fleet Management Corp. announced several recent changes to its North American senior leadership team. They include the retirement of Tom Keilty, who served the company for over 20 years, along with new and expanded leadership roles in operations, fleet partnership solutions and strategic consulting. “These are skilled leaders who are focused on our […] [Read More]

Greater Kalamazoo Auto Auction, an XLerate Group auction, will celebrate its 41st year anniversary on Thursday with a special sale. In honor of its anniversary, GKAA said it will award more than a total of $15,000 in cash and prizes to a number of potential dealer customers who attend the sale this week. Each Thursday, the […] [Read More]

On Monday, TrueCar announced a proposed public offering of its common stock that would include an expected 1 million shares of common stock and 7.5 million shares from certain existing TrueCar stockholders. It is anticipated that TrueCar and the selling stockholders will give the underwriters 30 days to buy up to a total of 1.275 […] [Read More]

Consumer Portfolio Services chairman and chief executive officer Brad Bradley likes the position where the subprime auto finance company sits after the first quarter. And it’s not just because CPS posted its 23rd consecutive quarter of positive earnings. Bradley pointed to the difference where CPS stands with more than 25 years in the subprime business […] [Read More]

Space Coast Credit Union recently honored six local dealers with its Watchdog Dealer of the Year Award, recognizing the superior service they provided to SCCU members in 2016. Officials highlighted the award — which has been presented annually to local dealers since 2009 — is calculated based on both SCCU member survey ratings and total […] [Read More]