Certified pre-owned is taking thicker slices of that franchised dealer used-car sales pie. In fact, CPO share has reached a new landmark. In the third quarter, 23.2 percent of used-vehicle sales at franchised dealers were certified, according to the latest Used Vehicle Market Report from Edmunds.com. Certified pre-owned’s Q3 share has never before reached this […] [Read More]

Cox Automotive brand NextGear Capital presented its fourth annual Auction Partners Awards during the National Remarketing Conference/National Auto Auction Association Convention at the Red Rock Casino and Resort in Las Vegas. The awards spotlight independently owned auction leaders in the industry and recognize their years of dedicated service to growing and supporting the overall industry […] [Read More]

According to its latest analysis of auto loan ABS transactions shared with SubPrime Auto Finance News, S&P Global Ratings said it is expecting managed portfolio losses to rise for the remainder of 2016 and possibly 2017. However, in reviewing these managed portfolios, S&P Global Ratings analysts insisted that they have observed that the rate of […] [Read More]

On Tuesday, Lithia Motors announced the acquisition of Honolulu Ford in Honolulu, Hawaii. "We are pleased to welcome the newest members of the Lithia family with the addition of Honolulu Ford, our fifth store in the state of Hawaii,” said Bryan DeBoer, Lithia president and chief executive officer. “Clustering locations in a condensed geographic area […] [Read More]

Carvana reached its 20th market on Tuesday with its launch in Indianapolis. This is the 11th market the online car retailer has added in 2016. The company also recently added Memphis, Tenn.; Pittsburgh; and Cincinnati to its market roster. “Over the past few months, we’ve been expanding across the Midwest, and we’re incredibly excited to […] [Read More]

Search Optics recently released results from its first annual digital marketing trends survey, which analyzed the needs, wants and decision-making strategies of more than 160 U.S. automotive dealers associated with a variety of leading automotive brands. The phone survey, conducted in partnership with Incept Corporation, yields insight into critical digital marketing challenges facing automotive dealers […] [Read More]

Seven auto auctions from across the U.S. received awards during the National Remarketing Conference/National Auto Auction Association Convention from Chase Auto Finance as the consignor announced its 2015-2016 Chase Cup for Auction Excellence winners. Officials recapped that the 18th annual Chase Cup award recognizes auctions across the country for their exceptional performance in retention, operational […] [Read More]

On Monday, Dealer.com announced that General Motors certified its Digital Advertising Solution as an in-Market Retail (iMR) Turnkey Product. The approval gives GM Dealers access to purchase Dealer.com's advertising product and receive co-op reimbursement from GM for their investment. "GM's approval of Dealer.com Advertising will create more lucrative advertising and sales opportunities for their entire […] [Read More]

To all the auto financing executives and experts who came to Las Vegas for Used Car Week, we thank you for making this year’s SubPrime Forum and Re3 Conference the most engaging and successful industry gatherings Cherokee Media Group has hosted. For segments of the auto financing community that couldn’t join us, here are some […] [Read More]

Costco Auto Program has announced that the Chevrolet Corvette is now available during its General Motors Holiday Sales Event. “We are excited to be able to offer an additional value with General Motors on the distinctive Corvette,” said John Conlon, services director at Costco. “This opportunity for Corvette enthusiasts to be able to purchase their dream […] [Read More]