Scotiabank’s latest Global Auto Report shows a bounce-back in Canadian new-vehicle sales in September, with several automakers reporting records for the month. Overall volumes fell short of last year’s peak due to a double-digit slide at Chrysler, however. Scotiabank estimates that new-vehicle purchases totaled 1.96 million units in September, well above the 1.89 million average of the […] [Read More]

Asbury Automotive Group is generating some strong certified pre-owned sales results, but the retailer isn’t satisfied quite yet. No, the dealership group believes it still has growth potential in CPO and its overall used-car operations. The topic of certified pre-owned came up several times during Asbury’s quarterly conference call earlier this week, and for good […] [Read More]

Change is in the air for HGrégoire. With John Hairabedian now at the helm of the company his father, Greg, founded more than 25 years ago, HGrégoire has embarked upon a total revamp of its business approach and launched a fully integrated, online transactional platform. The company’s revamped website aims to facilitate today’s shopping habits, where […] [Read More]

Answer Financial formed a partnership with Verifacto this week in an effort to help buy-here, pay-here dealers monitor whether their contract holders are keeping vehicle insurance policies current. The companies highlighted Verifacto’s technology is designed to improve the way lienholders can track insurance compliance for its customers. The platform includes an interactive dashboard with built-in […] [Read More]

According to the Consumer Financial Protection Bureau’s monthly complaint snapshot released this week, the CFPB has handled approximately 1,008,500 complaints across all products as of Oct. 1. Bureau officials indicated debt collection remained the most-complained-about financial product or service. Of the approximately 26,000 complaints handled in September, there were 7,352 complaints about debt collection. The […] [Read More]

Vehicles in recent years have become better equipped and often contain more advanced technology, but while these upgrades might lead to higher MSRPs, they aren’t lifting prices in the auction lanes as late-model pre-owned units. The reason? Largely, there are so many of them. According to the latest Blue Book Market Report from Kelley Blue […] [Read More]

Penske Automotive Group saw its revenue increase 3.9 percent to $5.2 billion in the third quarter — one the company said was again marked by record results. “Our business continued to perform well in the third quarter, producing another quarter of record results despite the translation effects from foreign currency headwinds,” chairman Roger Penske said in […] [Read More]

On Wednesday, the Consumer Financial Protection Bureau updated its compliance bulletin on service providers, which can include skip-tracers, repossession agents and other firms that provide assistance during the recovery process. According to what the CFPB published through the Federal Register, an amendment was needed to clarify that supervised entities have flexibility, allowing for appropriate risk […] [Read More]

When the clock strikes midnight on Halloween, the pre-owned side of the car business may been in for a treat. Industry observers have released their expectations for used-car sales in October, calling for figures well above 3 million units. TrueCar said used-car sales could approach 3.29 million units for the month, which would be a […] [Read More]

The automotive segment of the 15th annual Chicago Innovation Awards honored six companies, including vAuto, DRIVIN, CarLease.com and ForeverCar.com. The Chicago Innovation Awards is that region’s foremost recognition of the most innovative new products or services brought to market or to public service each year. A record-breaking 643 organizations were nominated for this year’s awards. […] [Read More]