Cox Automotive chief economist Tom Webb explained why February’s wholesale price data reinforced a possible market moniker — stability. Manheim reported on Tuesday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) fell by 0.2 percent in February. However, Webb pointed out that given a sharp decline in pricing in February of last […] [Read More]

TrueCar named its executive vice president of OEM development on Tuesday, appointing longtime Edmunds and automaker exec Michael Darrow to the role. Darrow was most recently the chief sales officer at Edmunds, where he worked for more than 14 years in a variety of positions. In the new post with TrueCar, Darrow will head up new […] [Read More]

With a growing network of auctions and what it calls a reputation for making it easier to consign and sell vehicles at auction, AutoIMS has plans to deliver increased upgrades and modernization to its infrastructure this year, according to an outline released on Tuesday announcing the AutoIMS leadership team’s strategy for the year. AutoIMS has adopted a […] [Read More]

General Motors Financial recently launched two new floor plan program updates for participating dealers that the company thinks are “competitive differentiators in the industry.” GM Financial — which reported that it had 792 dealerships in North America leveraging its commercial offerings as of the close of 2016 — highlighted the two floor plan updates include: […] [Read More]

On Tuesday, F&I solution provider EFG Companies rolled out what it dubbed the Drive Forever Worry Free Lifetime Wrap, an enhancement to the company’s limited powertrain protection. EFG companies explained that the Drive Forever Lifetime Wrap is designed to help dealers close more deals at a higher gross with improved product pricing, expanded eligibility and […] [Read More]

TradeRev announced on Tuesday that New York state, Pennsylvania and Dallas auto dealers will now have access to its real-time car auction mobile app that allows dealer users to create a live appraisal auction at any time. “TradeRev creates a simplified, transparent, real-time automotive exchange for dealers, and we are thrilled to bring our technology […] [Read More]

Coinciding with the start of National Consumer Protection Week, both the Federal Trade Commission and New York attorney general Eric Schneiderman — one of the most active individual regulatory enforcers in the auto finance space — both released annual consumer compliant figures associated with their respective agencies. While complaints associated with auto financing made the […] [Read More]

Penske Automotive Group said Tuesday it has bought the Jaguar and Land Rover dealerships in Paramus, N.J., from the Prestige Family of Fine Cars. Penske expects the purchase to generate about $215 million in annual revenues. "We are pleased with the opportunity to add the Jaguar and Land Rover dealerships in Paramus to the Penske Automotive […] [Read More]

On Tuesday, Black Book announced an agreement to power vehicle trade appraisal for AutoGravity, a mobile auto financing tool that recently surpassed 200,000 downloads of its native iOS and Android smartphone apps. The Internet is increasing in prominence for every part of the vehicle-buying process. A recent survey from eBay Motors found that 87 percent […] [Read More]

Jumpstart Automotive Media announced on Monday that it found the Chevrolet Impala — one of two Chevrolet models recently named on Consumer Reports' 10 Top Picks of 2017 list — to be the most cross-shopped non-luxury vehicle amongst consumers last year. “Chevrolet Impala’s size lends itself well to consumers who are deciding between midsize or […] [Read More]