Group 1 Automotive announced several key company changes on Thursday, including the acquisition of a dealer group in the U.K., the divestment of three of its current dealerships, and three internal promotions. The group has acquired the Spire Automotive Group, which includes 12 dealerships that operate primarily in the north and northwest London area. The […] [Read More]

The latest update from the Internal Revenue Service should calm concerns from buy-here, pay-here dealers looking for potential buyers to have income tax refund monies available for possible down payments or for current customers to get their contract out of the delinquency bin. The IRS said late on Thursday that it resumed processing individual and business […] [Read More]

TRADER Corporation recently announced that it will be hosting the second annual Industry Day as part of the Canadian International AutoShow in Toronto. Taking place on February 12 and featuring activities tailored for OEMs, agencies and automotive dealers, TRADER will also present an automotive sales and marketing event titled, “Carology: The Science of Selling Cars.” […] [Read More]

Without being too much of an alarmist, Cox Automotive economist Tom Webb asked a question that perhaps auto finance company executives are pondering as well: Are financial markets pointing to credit contraction? Webb delved into the topic as a part of the latest Manheim Used Vehicle Value Index, which came in at 125.2 in January […] [Read More]

Ally Financial reported that $14.8 billion of its $41 billion in total auto financing originations in 2015 stemmed from installment contracts for used vehicles. The figure marked a rise of $3.1 billion year-over-year. Chief executive officer Jeffrey Brown reiterated why the used-vehicle portion of its portfolio is so valuable, especially in light of expectations that […] [Read More]

SubPrime 125 honoree Auto Credit Express shared a blog post this week with three suggestions for dealerships to help their F&I managers since they fill such a critical role in moving metal. Billed as a way to keep these managers from feeling like they have a “thankless job,” Auto Credit Express believes these recommendations could […] [Read More]

vAuto founder Dale Pollak told the industry about the company’s new Stockwave sourcing tool earlier this week, and the industry innovator says the solution is designed to tackle four problems “all dealers have.” Pollak went over these four issues in an interview with Auto Remarketing shortly before the sourcing product was officially announced. Stockwave isn’t […] [Read More]

There was a paradigm shift that began two to three years ago, says DealerSocket’s Aaron Schinke, where people changed how they accessed the Internet, turning to a bevy of products that included not just smartphones and tablets but devices like Apple TVs, watches and Google Glass. More people were turning to these products than those […] [Read More]

Citing a defect information report provided by Takata, Honda North America announced this week that it is recalling roughly 2.23 million Takata PSDI-5 driver-side front airbag inflators in both Honda and Acura vehicles. One key takeaway from their announcement: the inflators will be replaced with parts manufactured by an alternative supplier, with repairs anticipated to […] [Read More]

In a development that prompted one Kelley Blue Book analyst to say, “people are in danger,” the National Highway Traffic Safety Administration said in documents released on Thursday that Continental Automotive Systems is recalling potentially up to 5 million air bag control units. NHTSA officials indicated the affected units manufactured between Jan. 1, 2006 and […] [Read More]