The year-over-year double-digit climb in retail used-vehicle sales during the second quarter certainly got the attention of investment analysts who watch Lithia Motors’ results regularly. What they wanted to know was whether Lithia could sustain this growth trajectory. President and chief executive officer Bryan DeBoer pointed to one factor as a reason why Lithia might […] [Read More]

Perhaps contrary to dealers who do not have unlimited floor-plan availability, Cox Automotive chief economist Tom Webb said “wholesale pricing is not exceptionally high” even as the Manheim Used Vehicle Value Index moved higher for the fourth consecutive month. Wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased in July by […] [Read More]

GWC Warranty, a provider of used-vehicle service contracts and related finance and insurance products sold through dealers, has set a new record for the number of dealers who have qualified for its top dealer reward programs — The Elite Dealer Program and The WealthBuilder Program. The company recently highlighted close to 650 dealers nationwide have […] [Read More]

Indiana Members Credit Union chief executive officer Ron Collier explained how this segment of auto financing providers can become “elitist” if all they do is book vehicle installment contracts with consumers whose FICO scores are 800 or higher. Perhaps credit unions aren’t originating contracts only with super-prime consumers, since the latest TransUnion data showed credit […] [Read More]

Copart has announced the expansion of its location in San Antonio. Earlier this year, Copart purchased locations in Temple and Wilmer, bringing the total number of Texas locations to 14. “We are excited to expand our location in a community we are already a part of,” said Jay Adair, chief executive officer of Copart. “This […] [Read More]

Jaguar Land Rover North America has begun mailing notifications to owners of certain 2009-11 Jaguar XF and 2007-11 Land Rover Range Rover vehicles that their vehicles are affected by the ongoing Takata airbag recall. For the first phase of this recall, which includes about half of the 108,000 Jaguar and Land Rover vehicles affected, vehicle […] [Read More]

Jumpstart Automotive Group made an interesting discovery when analyzing brand interest among desktop and mobile visitors to its range of sites during a one-year period. When comparing shoppers’ interest in the first half of 2016 versus all of 2015, Jumpstart noticed that truck segments decreased in shopping consideration while car segments increased. This seems to fly in […] [Read More]

July was the second-best month of all time for certified pre-owned car sales, Autodata Corp. said Thursday. The industry sold 234,243 CPO vehicles last month, which beat year-ago figures by 5.6 percent, the firm reported. The only month stronger was March, when 243,957 certified vehicles were sold.  Five brands (BMW, Lexus, MINI, Nissan and Subaru) reached […] [Read More]

Geared toward operators who are looking to close 2016 strong, the National Alliance of Buy-Here, Pay-Here Dealers released details of its upcoming BHPH Conference set for the first days of November. The conference, whose theme is “Best Practices to Succeed Now,” is designed for both new and experienced operators. The event marks the 13th annual fall […] [Read More]

The Congressional summer recess might just be rampimg up in earnest this week, but 38 Senate members and another 65 House lawmakers delivered a letter to Consumer Financial Protection Bureau director Richard Cordray to push through the agency’s plan to limit arbitration. To recap, the CFPB made a proposal back in May that would prohibit mandatory […] [Read More]