The latest report from Fitch Ratings indicated U.S. auto loan and lease credit performance will likely continue to deteriorate in the second half of 2016 and into 2017. Analysts noted year-over-year credit performance deteriorated for auto finance companies in the first half of 2016, despite improved loss rates in the first half of this year […] [Read More]

Online auto retailer Carvana — creator of the world’s first coin-operated Car Vending Machine — announced its expansion into Columbus, Ohio. Columbus marks the company’s first Midwest launch and its seventh new market launch over the past seven months. “We couldn’t be happier to be expanding into our first market in the Midwest, and to have […] [Read More]

Wheel’s Automotive Dealer Supplies is set to unveil a line of CPO-specific visual marketing solutions during Used Car Week in November. Wheel’s president Richard Ashworth and other members of the Wheel’s team will discuss certified pre-owned merchandising, marketing strategies and product solutions in Booth 210 during the conference, which is set for Nov. 14-18 at the Red […] [Read More]

ADESA chief economist Tom Kontos noticed prices in the lanes moved as he expected in August. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, prices in August averaged $10,738, which was 0.6 percent lower compared to July but 4.6 percent higher relative to August of last year. […] [Read More]

Despite record numbers of new vehicles rolling over the curb as leased models, Black Book Lender Solutions discovered a large number of auto finance companies say they don’t leverage residual data for their portfolio. The findings arrived despite the majority of finance companies admitting that portfolio risk assessment and remarketing remains at the top of their […] [Read More]

In what could be an ominous development for the used-vehicle department down the road, J.D. Power and LMC Automotive indicated that they have never seen franchised dealers slap as much cash on the hood as they are seeing this month to keep new metal turning. Analysts reported on Monday that incentive spending thus far in […] [Read More]

Social media success for your dealership is not an exact science. You may fall into one of the below categories when it comes to managing your dealership’s social media presence, which is synonymous with having a website. You need to have it in order for your dealership to stay competitive. Here are the five ways […] [Read More]

On Monday, ADESA promoted Trent Strauss to be director of dealer relations, effective immediately. He will report to Steve Dudash, the company’s vice president of dealer services. In his new role within the business unit of KAR Auction Services, Strauss will lead the local auction dealer relations teams throughout the United States and oversee deployment of the […] [Read More]

CarMax saw a 7-percent bump in total used unit sales during the second quarter, and a 5.4 percent increase year to date. Gross profit per used unit at $2,160 remained consistent with $2,166 in the second quarter of last year. Meanwhile, wholesale unit sales declined by 1.3 percent in the second quarter, which president and […] [Read More]

Patty Covington cautioned me beforehand that the opening module of the National Automotive Finance Association’s Consumer Credit Compliance Certification Program would be like drinking from a firehose. Well, she didn’t exaggerate. However, the way she and fellow instructor Eric Johnson delivered the material left me and the rest of the more than 100 students thirsty […] [Read More]