Mazda Motor Corp. filed a safety defect report with the National Highway Traffic Safety Administration to signify both a recall and a stop-sale of CX-5 vehicles from the 2014 through 2016 model years in both the United States and Canada. OEM officials explained that the fuel filler pipe could rupture during a rear collision and could […] [Read More]

Credit Acceptance Corp. chief executive officer Brett Roberts sees only one scenario where the competition for auto financing originations will diminish. Until that condition ever arrives, Credit Acceptance still is adding contracts to its portfolio at a strong pace having closed 2015 with booking 298,288 vehicle installment contracts. That figure represented 33.2 percent jump year-over-year. […] [Read More]

Online retailer Carvana now has more capacity to secure inventory for the company's unique vehicle vending machines. Ally Financial on Monday extended its financing relationship with Carvana, increasing the retailer’s floor plan credit line from $60 million to $125 million. Executives calculated the increase represents financing for approximately 7,100 vehicles, up from 3,400 vehicles. The companies […] [Read More]

GrooveCar’s vehicle buying resource for credit unions recently launched its new website. Officials highlighted The Everything Automotive platform has a brand new look combined with valuable features to improve the member experience throughout the shopping process. New features incorporated into the redesigned site are: — A search tool displaying vehicle choices from all angles — […] [Read More]

You know those young people that don’t just have great ideas — they act on them? Or how about those up-and-coming industry stars that aren’t afraid of disruption, but rather, invite it? And everyone knows at least one entrepreneur that doesn’t just dream up a solution to a problem, they bring the solution to market, […] [Read More]

The past four years of wholesale prices have been the most stable since the 1995 launch of the Manheim Used Vehicle Value Index, according to the company’s 2016 Used Car Market Report released Monday morning. But can we expect that stability to continue? Well, there will likely be compression in wholesale prices this year. “But […] [Read More]

Q auto, the standalone used-car program that Asbury Automotive Group launched in the spring of 2014, is still a work in progress and a learning experience — a “laboratory,” if you will. And one that the group thinks has some promise. But 2016 is the year Asbury’s management hopes it turns a corner. The company aims […] [Read More]

Insurance Auto Auctions announced the arrival of its turnkey customer self-service tool aimed at enhancing the total loss claims experience for IAA Title Services customers. Named MyVehicleClaim.com, the site allows insurance companies to provide vehicle owners with the means to track the progress of their total loss claim. Owners can receive communications and track their […] [Read More]

Wholesale used-vehicle prices technically softened in January, marking only the second decline in the past eight months, to leave the Manheim Used Vehicle Value Index at 125.2 — virtually unchanged from a year ago. But Cox Automotive chief economist Tom Webb pointed out that a straight average of all auction sales in January showed wholesale […] [Read More]

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]