As wholesale prices for compact vehicles continued to soften, Black Book representatives in the lanes last week noticed a significant amount of dealers sat on their floor-plan wallets stemming from the frequency of units that rolled over the block without the hammer finalizing a sale. According to the latest Black Book Market Insights report, the […] [Read More]

Sales of off-rental heavy 2015 model-year vehicles at auction have finally surpassed sales of 2014 vehicles on a like-age basis, according to NADA Used Car Guide’s Guidelines report for May. While sales of mostly off-rental 2015s trended downward over the past two months, the nearly 136,500 sold at auction in April and May was 12 […] [Read More]

Coinciding with the federally mandated website disclosing how the Consumer Financial Protection Bureau spends its budget on government contractors, more U.S. House members — including Speaker of the House Paul Ryan — continued the parade of bill proposals and other ideas about how to modify the CFPB’s structure and regulatory powers. First, according to data […] [Read More]

AuctionVcommerce has launched its Clerk Training Simulator, the company said Monday. This follows close to a year of product development for the tool, which is designed to foster consistency in the industry for online clerking and boost online participation and sales. The Clerk Training Simulator also aims to curb clerk turnover and block errors.  “Expectations […] [Read More]

NADA Used Car Guide’s seasonally adjusted used-vehicle price index rose by 0.7 percent to 119.1 — the first increase since November. And while wholesale depreciation sped up in May as prices of used vehicles fell by 2 percent compared to April, May’s performance was better than expected and was an improvement over the 2.7 percent […] [Read More]

Subprime auto finance provider Credit Acceptance headlined a total of five companies with heavy involvement in the used-vehicle industry included on the Best Places to Work in Information Technology — an annual ranking of the top 100 work environments for technology professionals by IDG’s Computerworld. Credit Acceptance was ranked No. 1 among midsize companies, or firms that […] [Read More]

It’s already a record-setting 2016 NIADA Convention and Expo, and the National Independent Automobile Dealers Association is just getting its week of meetings, training, networking and other festivities started. The 70th anniversary convention opened on Monday at its new venue — the recently renovated Mirage Hotel and Casino in Las Vegas — having already surpassed […] [Read More]

BMW Group Financial Services has teamed with Cox Automotive on a remarketing solution that allows all dealers to source BMW and MINI vehicles before they cross the auction block. Powered by RMS Automotive’s web-based vehicle portfolio management solution, BMWGroupDirect.com is now accessible to independent and non-BMW franchised dealers — not just BMW franchised dealers. The site […] [Read More]

In order to make indirect auto financing seamless, CRIF Lending Solutions and Dealertrack are joining forces. CRIF Lending Solutions recently announced a partnership with Dealertrack, a Cox Automotive brand, to integrate its CRIF ACTion loan origination system with Dealertrack’s e-contracting software. The companies hope to improve both the efficiency of their software and the portfolio growth […] [Read More]

Experian Automotive is predicting there will have been 1.8 million off-lease vehicles hitting the market between April and the end of December. But what will those consumers driving those leased cars back to dealer lots do next? Perhaps not surprisingly, most will go new and most will lease again. In fact, among consumers with leases ending […] [Read More]