While still making healthy gains in consolidated net income, Credit Acceptance chief executive officer Brett Roberts pointed to data the subprime finance company shared as part of its third-quarter financial statement to explain how competitive the market is to grow its portfolio with contracts that will mature and be profitable. When looking at Q3 figures, […] [Read More]

PureCars has been named a Kia Certified Digital Advertising Partner by KiaMotors. The partnership will make PureCars’ digital advertising solutions available to Kia dealers across the U.S. Kia’s Certified Digital Advertising Program allows dealers to use paid search and online advertising from certified providers to drive incremental local traffic to their respective websites. Now, Kia […] [Read More]

More of the consignment at ADESA has moved toward the commercial side, and that has led to an increase in the revenue that company generates from each unit — whether that car is being sold online or in the auction lane. That’s according to comments made by Jim Hallett, chief executive officer of parent company KAR […] [Read More]

Perhaps just when Volkswagen dealers thought happier customers might be arriving at their service drive and showrooms, OEM officials in Wolfsburg, Germany acknowledged that investigators in that country are conducting a new probe involving Hans Dieter Pötsch, the chair of VW’s supervisory board. The subject of the investigation is alleged market manipulation, according to VW’s […] [Read More]

Cox Automotive chief economist Tom Webb reiterated many of the foundational blocks of how the Manheim Used Vehicle Value Index is constructed when explaining why the October reading came in the way it did. Manheim indicated wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) dipped 0.7 percent in October, while non-seasonally […] [Read More]

Enterprise Holdings and its affiliate Enterprise Fleet Management delivered record results in fiscal year 2016. For the 12-month period ended July 31, the company generated $20.9 billion in revenue. That was an 8.1-percent increase over FY 2015, according to a news release. As privately held companies, they do not disclose net income. Enterprise Holdings and […] [Read More]

EFG Companies, together with Northwood University, recently announced the judging panel in the 2016 F&I Innovator of the Year competition. Representing all automotive brands spanning across the country, the eight-member blue-ribbon judging panel brings extensive experience and expertise in understanding consumer drivers in the F&I space.  The judges will select a winning F&I product idea […] [Read More]

According to TransUnion’s Q3 2016 Industry Insights Report powered by Prama analytics, total auto financing balances grew by 9 percent year-over-year during the third quarter. TransUnion pegged the total balance reading at $1.1 trillion, up from $1.01 trillion in Q3 2015. Analysts noticed subprime balances experienced the largest increase, with 11.4 percent year-over-year growth. Despite […] [Read More]

It started with a letter in the mid-1990s. Now working with 50-plus auctions and various companies in the car business, TPC Management Co. celebrated its 20th anniversary this summer.   “When we opened our doors in 1996 we could not, in our wildest imagination, have conceived of all the companies and projects we would become […] [Read More]

CarMax has begun its largest hiring effort to date, following an announcement that the company is opening a new Murrieta, Calif. multi-purpose facility in February. The company is hiring more than 250 associates to staff the new location. A majority of the positions available are roles in service operations such as inventory, service advisors and technicians. There […] [Read More]