General Motors is investing $500 million in Lyft as part of a new alliance announced Monday between the automaker and rideshare company that will include the development of an autonomous on-demand network, among other key highlights. This news was revealed the same day that Silvercar, a similarly tech-focused player on the rental car side, announced […] [Read More]

Fitch Ratings isn’t necessarily sounding alarms over what the Federal Reserve did with interest rates before the holidays arrived. It’s how the Fed might adjust rates during the next four years that is sparking analysts’ interests. Fitch acknowledged on Monday that rising interest rates could pressure U.S. auto ABS transactions, especially first on subprime deals. […] [Read More]

The Federal Trade Commission is ramping up its efforts to regulate dealerships on a pair of fronts to begin 2016. Remember what the FTC dubbed Operation Steer Clear? It was the commission’s action that punished 10 dealerships back in 2014 as part of the regulators’ nationwide sweep focusing on misleading advertising associated with the selling, […] [Read More]

The Association of Finance & Insurance Professionals offered some clarity in response to the Federal Reserve Board’s recent announcement regarding thresholds for the Truth in Lending Act as well as the Consumer Leasing Act. AFIP executive director David Robertson explained that the $56,400 threshold will remain the same for 2016 as will the accepted practice […] [Read More]

Just before 2015 closed, used-vehicle service contract and related finance and insurance product provider GWC Warranty announced the company successfully topped $375 million in claims paid to date. In reaction to the achievement, GWC Warranty chief executive officer and president Rob Glander said, “Surpassing $375 million in claims is an important milestone for GWC. “Our […] [Read More]

Generally speaking, industry studies have shown that consumers are willing to shell out a few more bucks for a certified pre-owned car. However, if the consumer is budget-conscious, the price premium on a certified car can be a tricky proposition. At least that has been the experience for some dealers, including Rod Rowley, who said […] [Read More]

The Juvenile Diabetes Research Foundation, a global organization focused on Type 1 diabetes research, received a healthy donation from ADESA and Emkay toward the end of December. ADESA announced in late December that it, in partnership with Emkay, raised $50,660 in support of JDRF, bringing the partnership’s total contribution tally for the last four years […] [Read More]

CarMax noted a slowdown in its stores’ foot traffic during its fiscal third quarter, resulting in a decrease in same-store used-vehicle sales. However, the retailer still tallied an increase in overall used-car sales with its new rooftops added in the last year. In fact, the company sold over 154,000 used units overall last quarter, resulting in […] [Read More]

Just as it completed its first acquisition — Toyota Woodland — the Automotive Properties Real Estate Investment Trust also announced it has agreed to acquire a Go Auto dealership property in Edmonton, Alberta for $23 million. The Automotive Properties REIT is purchasing the real estate underlying Go Auto’s Porsche Centre and Jaguar Land Rover Edmonton. […] [Read More]

In December, Element Fleet Management announced its 17th annual Remarketing by Element Awards in Chicago, honoring a few handfuls of auctions and a top-ranking female leader in the remarketing business. Earning top honors as Auction of the Year was Manheim Kansas City. “Remarketing by Element appreciates all of our partner auctions and commend those that are […] [Read More]