Evidently the Federal Trade Commission is far from finished with its regulatory actions involving what it dubbed Operation Steer Clear — a nationwide crackdown on misleading advertising regarding vehicle sales, financing and leasing that began more than two years ago. This week, FTC officials said three Dallas-area dealers, collectively known as Southwest Kia, have agreed […] [Read More]

Along with being ranked as one of the country’s fastest-growing private companies by Inc., FactorTrust this week hired Barbara Sinsley as general counsel and chief compliance officer. FactorTrust indicated Sinsley will provide the company with legal and regulatory guidance and manage its internal and external compliance programs and products. The company went on to mention […] [Read More]

As we begin to sense subtle signs of fall in the air, Black Book opted to take a look at which cars and trucks have seen the biggest depreciation at this time of year over the last decade. According to the analysis, that distinction goes to cars in the prestige luxury segment, followed by a […] [Read More]

National Auto Auction Association president Mike Browning found both celebratory and somber moments during National Auto Auction Week, which was wrapping up Friday. A highlight from the weeklong event was the announcement of the four regional winners of NAAA’s first-ever Auto Auction of the Year Award, which honors excellence in community service. The winners were: • Eastern […] [Read More]

If any buy-here, pay-here operators were fans of the HBO comedy program “Last Week Tonight with John Oliver,” they might not be any longer after the host’s unflattering portrayal of subprime auto financing, and in particular BHPH dealerships. The nearly 18-minute segment recounted the story of a vehicle repossessed and resold multiple times, revisited the […] [Read More]

According to a recent study by the Sierra Club, electric vehicles are not widely available on most lots. The demand is there, but the study informs that dealerships are not keeping electric vehicles in inventory, salespeople are not prepared and educated to talk about them, or the vehicles are not charged or unavailable for a test drive. […] [Read More]

KAR Auction Services announced that Tim Massingale has been promoted to vice president of enterprise optimization. He will report to David Vignes, KAR executive vice president of enterprise optimization. As part of the enterprise optimization team, Massingale will help to maximize resources and increase synergies across all of the KAR business units. He also will […] [Read More]

April through June represented the best second quarter ever for certified pre-owned sales, according to Edmunds.com, which said dealers sold 678,169 CPO units. This beat year-ago figures by 2.6 percent.  Used-car inventories are getting younger at franchised dealerships, cars are coming off lease and CPO sales continue to break records.   Certified has become a bigger part […] [Read More]

TRADER Corp. has announced an exclusive partnership with Toronto-based Coherent Path that is bringing “big data” to the Canadian auto industry. Years of data on autoTRADER.ca indicates that consumers don’t tend to begin their journey with a clear path to purchase, and that many factors can influence them along the way. By applying Coherent Path’s […] [Read More]

Along with deeper analysis into delinquencies, TransUnion’s director of research and analysis in Canada Jason Wang shared exclusive data with Auto Remarketing Canada that pinpointed the swift upward trajectory consumers are taking with regard to how much auto finance debt is now on their individual balance sheets. Viewed one quarter in arrears to ensure all […] [Read More]