The AFC unit of KAR Auction Services enjoyed a solid third quarter, with volumes climbing 13 percent and profitability remaining strong. According to the parent company’s quarterly earnings information, AFC had 405,116 loan transactions in Q3, up from 358,800 in the same period of 2014,  pushing the year-to-date sum above 1 million (1,198,473). AFC revenue […] [Read More]

EFG Companies, partnered with Northwood University, this week announced the judging panel for the first annual F&I Innovator of the Year Award competition. According to EFG, the eight-member panel collectively touts over 100 years of F&I experience at auto dealerships and has experience at all of the major brands. “Each judge selected for this panel […] [Read More]

Xcira has obtained a strategic equity investment from Ritchie Bros., an international industrial auctioneer company. Xcira, which is a technology supplier for the traditional auction business, has had a relationship with Ritchie Bros. for 14 years. However,  this equity stake changes the game a bit. The company said the investment will allow it to invest […] [Read More]

Volkswagen, Audi and Porsche announced a stop-sale of certain models in their respective lineups earlier this week following the Environmental Protection Agency’s allegations that the second generation 3.0-liter V6 TDI engines contained a defeat device that circumvents the EPA’s emissions testing. The stop-sale from the three brands does include their respective certified pre-owned vehicles with […] [Read More]

Canadian branches of the Volkswagen, Porsche and Audi brands have all issued stop sales in light of the unexpected U.S. Environmental Protection Agency notice received Monday. This news comes after the five companies under Volkswagen’s umbrella that are involved in the sale of its V6 diesel engines in the United States received notification from the […] [Read More]

Mixed-use developments are popular these days — think apartments over commercial properties such as cafes and restaurants. But, add automotive dealerships to the mix, and you have Downtown Automotive Group’s new project in the works: Riverside Square. The new development, located in the southeast end of Toronto, will combine six dealerships —  the part of […] [Read More]

There’s a lot of chatter regarding the new-vehicle sales heading into the winter, with Kelley Blue Book’s most recent estimate at 17.4 million for the year. But dealers aren’t just concerned with the flash of new sales — they know many of those vehicles will be coming back to their lots eventually, and they want to […] [Read More]

The certified pre-owned market has already eclipsed 2 million sales for 2015, which appears to be the fastest the industry has ever reached this mark in a year.   Autodata Corp. said Wednesday that the year-to-date CPO sales tally through 10 months is at 2.14 million, a full 10 percent ahead of last year’s pace. […] [Read More]

Auction values dropped to a two-year low in the third quarter, but there were a few brands and segments bucking the trend and holding on their values well. Kelley Blue Book took a look at one brand, in particular, in its latest Blue Book Market Report — Subaru. For price retention, some Subaru models are tops […] [Read More]

Two players in the direct-to-consumer car sales space, Carvana and Beepi, made some big moves on Wednesday. Starting with Carvana, the company entered its fourth new market in the past three weeks, launching its services in Raleigh, N.C. Its used-vehicle delivery is now available in eight cities, which include: Austin, Texas Birmingham, Ala. Charlotte, N.C. […] [Read More]