By now, you probably realize that Cox Automotive has some new faces on its analytical front to replace longtime chief economist Tom Webb, who is officially retiring on June 30. You probably also realize that one of those additions has a DJ as an “alter ego.” That would be Jonathan Smoke, Cox Automotive’s new chief economist, […] [Read More]

Change seems to be always in the air in the auto finance space. Finance companies are adjusting underwriting to mitigate risk, maintain origination growth and watch for delinquency rises. Service providers are looking to improve their solutions while sustaining high levels of performance and compliance. And the professionals who lead the way in these endeavors […] [Read More]

With conference season getting into full swing for independent dealerships — including the National Independent Automobile Dealers Association’s annual conference, which runs Monday through Thursday — BHPH Report (Auto Remarketing’s sister publication) connected with Steve Jordan, NIADA’s chief executive officer. Below is a Q&A that ran as part of a larger feature story in the […] [Read More]

CarGurus recently released a survey that found trust to be a leading factor for consumers when shopping for expensive purchases, such as cars.  “Survey respondents indicated that the car shopping process is very much in need of increased transparency if dealers are to win the trust of Canadian car shoppers,” the car research and shopping […] [Read More]

American Auto Shield and Rod Heasley of KISS Concepts Group are introducing Modern Auto Protection — a vehicle service contract program that allows buyers to build their own unique plan — at the  NIADA Convention and Expo in Las Vegas.   The program was designed by Over The Edge, an Ohio-based business technology solutions company, and it is American […] [Read More]

According to Black Book data, the average price of a used vehicle for model years 2011 to 2015 decreased in value by 1.2 percent in May. Editors explained that movement represented a reversal from April when values actually increased 0.4 percent. Black Book indicated overall car values dropped by 1.8 percent, and trucks decreased by […] [Read More]

Carvana founder and chief executive officer Ernie Garcia is confident that the online used-vehicle retailer will have turned at least 10,000 units by the time the second quarter closes at the end of the month. And Garcia is upbeat that the gross profit per unit will be about $1,400. “The path to profitability is clear,” […] [Read More]

SoCal Penske Dealer Group announced it acquired the Fuller Ford, Fuller Honda, Fuller Kia and Fuller Collision Center in Chula Vista, Calif., further expanding its footprint in the Southern California market. The former Fuller locations have been rebranded as Penske Ford Chula Vista, Penske Honda Chula Vista, Penske Kia Chula Vista and Penske Collision Center Chula Vista. […] [Read More]

While lawmakers from opposing parties either cheered or jeered the vote tally, industry advocates from the banking, financial services and dealership communities on Thursday all applauded the U.S. House of Representatives for passing H.R. 10, the Financial CHOICE Act.  The measure is a comprehensive financial reform bill that includes what one group called “significant and much-needed […] [Read More]

This week, RouteOne highlighted that its eContracting platform reached a new milestone with 7.5 million booked eContracts. The threshold resulted in more than $200 billion in funded deals. RouteOne indicated the growth can be attributed to the rising adoption by: • More than 6,000 active eContracting Dealers • 36 live and in-pilot eContracting finance sources […] [Read More]