Editor's Note: Updated to correct second-to-last quote. LotLinx welcomed Pat Ward, co-founder and former chief strategy officer of motormindz, as its chief revenue officer in mid-December. Ward has more than 25 years in sales leadership, marketing and customer advocacy. Auto Remarketing caught up with Ward by phone this week to talk about the position.  What attracted LotLinx's […] [Read More]

Make it six straight years of record certified pre-owned vehicle sales. Autodata Corp. reported Thursday that there were 2.64 million CPO sales in 2016, another best-ever sum for this rapidly expanding market. That beats year-ago figures by 3.5 percent, according to Autodata. Appropriately enough, the final month of the year was the strongest December on […] [Read More]

I recently came across an article titled, “J.D. Power: Speed No Longer Top Consideration When Selecting Finance Sources,” and it sparked my interest about what the modern retail automotive dealer leadership really wants to see from their finance companies when ease of use and speed are concerned.  I recently spoke at a conference in Las […] [Read More]

Kijiji announced this week two new partnerships which will add even more value to its dealers and users. The new partners include a photo and video capture service as well as a dealer review add-on provider, resulting in greater transparency for buyers. Officials said the new agreements — with Car Pics 2.0 and Mobials.com — […] [Read More]

In the final month of 2016, the most-appraised vehicle at Canadian dealerships was the Ford F-150, according to the latest TradeTracker report from Dealertrack. Second on the list was the Toyota Corolla, followed by the GMC Sierra 1500, Honda Civic sedan and RAM 1500. As far as three-month trending, the top three spots were the […] [Read More]

LGM Financial Services announced Thursday that the Auto Dealers Against Distracted Driving Campaign — its 3rd annual corporate initiative — will launch on Mar. 1. The initiative aims to educate Canadian dealers' staffs and customers about positive driving habits and asks them to take a formal pledge against distracted driving. Roughly 4,000 pledges against distracted driving were collected […] [Read More]

Beyond a slew of uncertainties at play, another reason analysts are “hedging our bets” when forecasting the 2017 new-car market and opting instead for a range: off-lease volume, says Autotrader senior analyst Michelle Krebs. According to forecasts from Cox Automotive chief economist Tom Webb, off-lease volume could reach 3.6 million units in 2017 and then approach 4 […] [Read More]

One of the most noteworthy executives ever to participate in subprime auto financing has retired. Credit Acceptance announced late on Wednesday afternoon that founder Donald Foss, who most recently served as the company’s chairman, has decided to retire as an officer and director effective Tuesday. The company indicated the board has no present intention to […] [Read More]

On Wednesday, Copart announced the addition of its first location in Wyoming and fourth in Colorado, along with the expansion of its Springfield, Mo., location. "We have been expanding and adding new locations throughout the United States this year, and we are pleased to add Wyoming as our 46th state in which we are operating," Copart […] [Read More]

The average 12-month depreciation for vehicles from the 2011-2015 model years was 17.3 percent last year, according to Black Book, which said depreciation rates began to stabilize at the close of 2016. Twelve-month depreciation for car segments was at 20 percent, with truck segments averaging 15.5 percent. In the final month of the year, overall […] [Read More]