There will likely be a record 3.6 million off-lease vehicles this year, according to Manheim’s 2017 Used Car Market Report. “And that’s not even close to the peak,” Cox Automotive Inventory Solutions president Janet Barnard said during a press conference here at the NADA Convention & Expo. That, she said, will happen in 2020, when […] [Read More]

Did you punch in the search term “Alfa Romeo” during Sunday night’s Super Bowl? If so, you probably weren’t alone. Online traffic for the Italian car brand — one of nine automakers to air ads during the game, according to Cars.com — skyrocketed, say analyses released Monday. There was a 1,179-percent spike in visits to […] [Read More]

The first two publicly traded groups to share their 2016 financial statements — AutoNation and Group 1 Automotive — posted mixed results within their used-vehicle departments. Group 1 reported that its dealerships retailed 129,131 used vehicles last year, representing a 4.0-percent increase above the 2015 figure. The company also generated a 3.3-percent rise in retail […] [Read More]

TREND Financial says its mission is to change the way consumers obtain vehicle financing. With release of version 3.0 of the TREND Lending Platform, the finance company consumers will now be able to receive an instant customizable approval for their auto financing needs. Starting now, consumers can access the TREND Lending Platform through TREND’s dealer […] [Read More]

Before Tom Brady and the New England Patriots claimed another Super Bowl victory on Sunday night, President Trump released his latest executive order and outlined what he called the “core principles” of financial system regulation, generating a wide array of industry-supporting and consumer-backing organization reactions. These “core principles” arrived at the same time Trump instructed […] [Read More]

Wise F&I, which offers a full suite of finance and insurance products, announced on Monday that its products are now available to automotive retailers operating on the Reynolds and Reynolds dealership management system (DMS). Dealers can leverage Wise F&I offerings through the product rating and booking (PRB) tool within a Reynolds DMS. The company explained […] [Read More]

I want to wish everyone a Happy New Year and continued success in our industry in 2017. I have made the decision to make this my final year of writing these editorials and again, I thank Bill Zadeits and his team for the opportunity and I hope to light a fire under key issues in […] [Read More]

Much of the CEO panel discussion during the Vehicle Finance Conference hosted by the American Financial Services Association revolved around underwriting, originations, compliance and other matters associated with a finalized retail installment contract needed for delivery at the dealership. However, moderator Charlie Vogelheim, who is the host at Motor Trend Audio and a partner at TPC […] [Read More]

OpenRoad Auto Group — one of the province’s largest dealership groups with more than 900 associates representing 15 brands at 19 full-service dealerships — is expanding once again. But this time, it’s in the United States. On Friday, OpenRoad announced the acquisition of an established luxury dealership in Bellevue, Wash., that represents some of the […] [Read More]

On Friday, Holman Automotive announced former BMW executive, Pete Witt has joined the company as Northeast platform vice president. Witt most recently served as executive vice president of operations for BMW North of America where he worked for 17 years prior to joining Holman Automotive. In Witt’s new role, he will be responsible for the […] [Read More]