The industry isn’t “over the cliff” at this point, but AutoNation chief executive officer Mike Jackson reiterated concerns he made earlier this year about too much incentivizing in the new-vehicle market, stressing that it’s an “unsustainable” model. During the Q&A portion of Friday’s quarterly earnings call, Jackson responded to an analyst expressing concern about record new-car […] [Read More]

More and more people seem to be questioning the value of car ownership, and millennials and seniors appear to be at the forefront of this trend. More new vehicles were leased in the first half of 2016 than during the first half of any other year, according to the latest Lease Market Report from Edmunds.com. And […] [Read More]

By now, you may have seen Vroom’s first-ever television commercials, which feature comedic actors John Leguizamo and Rachel Dratch. Funny and purposefully a bit oddball, one features the pair, as husband and wife “Dick and Peggy,” riding an ostrich and a yak to avoid buying a car. In the other, Leguizamo constantly distracts Dratch while she’s meditating, […] [Read More]

Penske Automotive Group has ramped up its supply of “young, used vehicles.” During a conference call Thursday to discuss the company’s second-quarter earnings results, chief executive officer Roger Penske noted that in an effort to provide service customers on the premium luxury side with loaner cars, the auto group has grown its loaner car fleet to […] [Read More]

In what might be a positive development for auto finance companies, both the American Financial Services Association and the Consumer Bankers Association picked up on the same segment of the debt collection regulatory proposal the Consumer Financial Protection Bureau unveiled on Thursday. It’s a point CFPB director Richard Cordray made during the first half of […] [Read More]

Today’s new cars may be chock-full of the latest technology and features, but that comes at a price. In fact, the average price of a new car is $33,801. Because many people cannot afford a large monthly payment (let alone buy a new car outright), there exists a healthy market for affordable used cars. Still, […] [Read More]

Look for used-car sales to finish July near the 3.4 million mark, as forecasts from Edmunds.com and TrueCar each landed in that neighborhood. Edmunds estimates July’s used-car sales tally at 3.4 million, resulting in a 38.7 million SAAR. Last month, there were 3.2 million used-car sales, with a resulting SAAR of 38.7 million, the company […] [Read More]

The settlement plan involving Volkswagen and Audi 2.0L TDI vehicles in the U.S. has been granted preliminary approval by a federal judge in California, meaning eligible customers will soon have an important choice to make: sell their car back to VW (or end the lease without a penalty) or keep the car and get a free […] [Read More]

It has been a busy year on the expansion front for OpenRoad Auto Group, an 18-store group covering 15 franchises in British Columbia. After opening Jaguar Land Rover Langley in December, OpenRoad and Jaguar Land Rover Canada held a grand opening for the all-new dealership in March. In June, OpenRoad and Audi Canada held a […] [Read More]

Many of us may approach turning 50 with mixed feelings, but for Pfaff Automotive Partners, crossing the half-century mark a couple of years back was a truly exciting milestone. As Pfaff Automotive settles into its second 50 years, president and chief operating officer Christopher Pfaff offered his thoughts on a changing industry, challenges in the […] [Read More]