Fueled in part by its used-vehicle department performance, Lithia Motors reported the highest first quarter revenue and earnings per share in company history. To get to those achievements, Lithia said on Wednesday that its used-vehicle retail same store sales increased 6 percent as the dealer group turned a total of 30,783 units during Q1, representing […] [Read More]

As the volume of complaints the agency has handled swelled above 1.1 million, the Consumer Financial Protection Bureau filed a lawsuit in a federal district court this week against the debt collection law firm Weltman, Weinberg & Reis. The CFPB contends the firm has been falsely representing in millions of collection letters sent to consumers […] [Read More]

A little more than a month after opening ADESA Chicago, KAR Auction Services made another big  move in the Windy City on Wednesday. KAR announced it has acquired Chicago-based DRIVIN in a $43 million stock purchase transaction. The company, whose official name is CarCoTechnologies and does business as DRIVIN, was founded in 2015 by Groupon […] [Read More]

Below is a Q&A with Jeanene O'Brien, senior vice president of global marketing at Insurance Auto Auctions and a 2017 Women in Remarketing honoroee. Auto Remarketing: What was your path to the automotive industry, and what do you enjoy most about working in the car business? Jeanene O'Brien: I was a month away from graduating with my […] [Read More]

Below is a Q&A with Melinda Perry, assistant vice president of internal operations in Remarketing Solutions at GM Financial and a 2017 Women in Remarketing honoree.  Auto Remarketing: What was your path to the automotive industry, and what do you enjoy most about working in the car business? Melinda Perry: I began working in the automotive […] [Read More]

Auction sales volume in March was steady with year-ago figures and dipped 2 percent sequentially, according to the latest Guidelines report from J.D. Power Valuation Services. Showing a particularly sharp increase in the auction lanes was the late-model compact utility vehicle. Overall, there were 384,704 auction sales of vehicles up to 8 years in age, […] [Read More]

Columbus Fair Auto Auction  announced that it has been tapped for the second year in a row by Ally Financial to receive its Leadership Auction of the Year award in recognition of its overall sales performance last year. “We value the Ally Financial relationship and strive to differentiate our auction through process and execution”, Alexis […] [Read More]

Franchised dealerships sold nearly 15 million used cars last year, taking a 37-percent share of the pre-owned retail vehicle market, according to the NADA Data 2016 report. And the average used-car department at a franchised store was pulling in annual gross profits of just under $1.69 million, the report said. This annual financial profile of […] [Read More]

While noticing that March wholesale prices rebounded by 1.6 percent, the team at NADA Used Car Guide, a division of J.D. Power, is expecting the market to give back much of that gain in April. According to the latest issue of Guidelines released on Tuesday, NADA UCG indicated that prices of vehicles up to eight […] [Read More]

Black Book’s latest recap of bidding activity and price movement showed how aggressively dealers are getting in the lanes either in person or online. As certain units kept auction ringmen busy, the Black Book Market Insights report indicated 13 out of the total 22 vehicle segments saw an increase in average value. On the other […] [Read More]