Customers of Fletcher Jones Auto Group’s Mercedes-Benz dealerships now have access to a digital sales and finance app powered by AutoGravity. AutoGravity’s FJ Drive app, for iPhones and Android devices, enables Fletcher Jones’ customers to enjoy a seamless car shopping and financing experience that lets them choose from a large selection of Mercedes-Benz vehicles, secure […] [Read More]

Auction Academy, a continuing education program for auto auction professionals developed by TPC Management Company, had a busy third quarter. The Academy’s Class Group 4 completed the seventh of eight quarterly sessions with a trip to Dallas, where members were hosted by America’s Auto Auction and its chief executive officer, Ben Lange, who led the […] [Read More]

With recalls very much in the news these days, dealers and drivers alike may be wondering about automakers’ track records when it comes to such actions. Using new-vehicle sales data as well as recall data from the National Highway Transportation Safety Administration from the last three-plus decades, iSeeCars endeavored to find out. The Boston-based automotive […] [Read More]

UPDATED to correct October monthly industry/domestic/Asian/European sales figures Certified pre-owned vehicle sales fell on a year-over-year basis for the second straight month, but are still up 3 percent year-to-date, according to Autodata Corp. With 2.21 million CPO vehicles sold through 10 months of 2016, full-year sales can still beat last year’s 2.55 million sales and mark […] [Read More]

A preview of some of the enlightening discussions on tap for this year’s Re3 Conference presented by MBSi Corp. is scheduled for the final edition of Used Car Week Live. The online video event set for 2 p.m. ET next Thursday will include Cort DeHart, who is both vice president of business development at Agero and […] [Read More]

PointPredictive, a provider of machine learning fraud solutions, recently announced the results of a new study that detected high levels of fraud in early payment auto finance contract defaults. The firm explained its study encompassed data from millions of auto finance applications submitted by dealers all over the U.S. across all vehicle types.  PointPredictive auto […] [Read More]

Prestige Financial Services recently completed its 15th rated term securitization, issuing $343.6 million in securities backed by $369.46 million in automobile installment receivables. In a transaction led jointly by Wells Fargo Securities and J.P. Morgan Securities, the finance company highlighted notes were purchased by qualified institutional buyers in a private offering pursuant to Rule 144A […] [Read More]

The view appears rosy for pre-owned operations at Sonic Automotive, including expansion in its EchoPark standalone used-car stores. The dealer group had its best-ever quarter for used retail sales and achieved more than 58-percent growth in its EchoPark sales, according to its quarterly earnings release. Sonic retailed 30,933 used cars in the third quarter, an […] [Read More]

When it comes to smaller new-car segments, one of the trends at play in the slowdown is “an affordability issue,” says Autotrader senior analyst Michelle Krebs.  “There are just many consumers who are being frozen out of the new-car market,” Krebs said during the Q&A portion of sales day conference call with the media on […] [Read More]

Carjojo’s goal is simple: to change the way people buy cars. The company’s website, which officially launched on Tuesday after three months of open beta testing, is a big step in that direction. Carjojo says it’s the first company to show car buyers detailed information — and to predict actual prices — on all of […] [Read More]