vAuto, whose parent company is Cox Automotive, is coming out with a new wholesale sourcing tool. The companies aim to launch the all-new Stockwave at the upcoming 2016 NADA Convention & Expo in Las Vegas. And the tool isn't just for stores who use vAuto — it is open to all dealers. Dale Pollak, the […] [Read More]

Toyota, Lexus and Mazda have all recently released information regarding airbag-related recalls, while Mazda has also issued a separate recall related to an issue with the fuel filler pipes in its recent CX-5 vehicles. Let’s break them down by recall size. Toyota/Lexus recall 320,000 Land Cruiser, 4Runner, Tundra, Sequoia, LX and GX vehicles Toyota announced […] [Read More]

Both the Department of Justice and the Consumer Financial Protection Bureau sent out press releases on Tuesday afternoon reporting the settlement the agencies made to resolve allegations that Toyota Motor Credit engaged in a pattern or practice of discrimination against African-American and Asian/Pacific Islander borrowers in auto financing. While each regulator highlighted similar points — how […] [Read More]

Kelley Blue Book estimated the average transaction price (ATP) for new vehicles in the United States climbed to $34,112 in January, representing an increase of $919 or 2.8 percent year-over-year. To keep that metal moving out of dealership inventory and into finance company portfolios, the easiest path continues to be an avenue that worries industry […] [Read More]

This week, Scan123 announced the integration of its electronic document management system with Auto/Mate Dealership Systems. Officials said the integration can help dealers transition to a paperless environment, streamline workflow and help them to comply with federal law. “Integrating our system with Auto/Mate’s DMS was inexpensive and relatively easy due to the Open/Mate integration program, which […] [Read More]

Markham Ontario’s Don Valley North Toyota has been named the 2016 Auto Remarketing Canada CPO Dealer of the Year. The dealership might sound familiar to readers, as the Toyota store was a runner-up for the 2015 award. The team continued to excel in the certified pre-owned department over the course of 2015, notching this year’s […] [Read More]

ADESA president and chief executive officer Stéphane St-Hilaire announced this week that Troy Peterson has been named general manager of the company’s upcoming ADESA Chicago location. In his new role, the company highlighted, Peterson will oversee all business operations at ADESA Chicago and lead business development in the nation’s third largest metropolitan area. Peterson will […] [Read More]

The car whose late-model auction values showed the most positive change during the fourth quarter? According to a Kelley Blue Book analysis, it was an electric vehicle:  the Nissan LEAF. This took place, even amid gas prices that tumbled more than 14 percent. Specifically, KBB Auction Values on model-years 2012 through 2014 LEAF vehicles were up […] [Read More]

Kelley Blue Book senior analyst Alec Gutierrez said the fleet process leveraged by automakers “has really matured considerably” during the last three to five years. That development is all the more important since so many new vehicles are leaving franchised dealership lots as leased units nowadays. During a conference call on Tuesday, Gutierrez acknowledged, “There is […] [Read More]

Some components of Toyota Motor Credit’s settlement with the Department of Justice and the Consumer Financial Protection Bureau released on Tuesday are similar to what the regulators reached with American Honda Finance last summer. The Justice Department and the CFPB explained the settlement is to resolve allegations that Toyota Motor Credit engaged in a pattern […] [Read More]