DealerRater.com broke its monthly record in August, reporting nearly 60,000 consumer review submissions to the site last month. The total number of reviews for August, coming in at 59,814, represented a 69-percent increase over August 2014’s results. “August was our biggest month ever for submitted reviews,” said Gary Tucker, the company’s chief executive officer. “The […] [Read More]

You can probably expect around an 800,000-unit increase in lease maturity volume next year, and those cars are likely to feed nicely into dealer lots as certified pre-owned units, says Joe Derkos of J.D. Power. But as far as how many CPO cars J.D. Power believes will be moving off of dealer lots next year … […] [Read More]

Service provider WebRecon determined auto financing filings still only represented a small amount of the complaints recently sent to the Consumer Financial Protection Bureau. WebRecon chief executive officer Jack Gordon examined the regulator’s database and found the CFPB received 3,443 complaints associated with debt collection in July. That total amount represented a 2.1-percent decline on […] [Read More]

Cox Automotive has brought its Kelley Blue Book and Autotrader properties under one leadership structure headed up by Jared Rowe, who is now president of Cox Automotive Media Division. The company shared a statement Tuesday explaining the new alignment. Rowe, who will report directly to Cox Automotive president Sandy Schwartz, had led Autotrader and KBB, […] [Read More]

The deadline for Cox Automotive’s tender offer for Dealertrack Technologies has been extended for a third time in a move to finalize the all-cash $4.2 billion acquisition. On Monday, Cox Automotive extended the offering period of its previously announced tender offer to purchase all of the outstanding shares of common stock of Dealertrack for $63.25 […] [Read More]

For the first time in 2015, monthly auction volume was down on a year-over-year basis. That’s according to the latest Economic Dashboard from the National Auto Auction Association released Monday. Citing AuctionNet data, the report indicates that August auction volume was down 2.0 percent against comparable weeks of 2014. However, year-to-date volume is still up […] [Read More]

There’s a growing understanding within the dealer community that social media advertising is a worthwhile endeavor with benefits to reap. Unfortunately, the social media ad space can be a bit tricky to navigate for many just starting out. Dominion Dealer Solutions, however, says its new tool can help facilitate those social media vehicle sales. DDS, the […] [Read More]

The July dealer survey conducted by KeyBanc Capital Markets showed that 88 percent of respondents enjoyed a used-vehicle sales increase year-over-year. Half of the stores that participated generated a used sales lift of less than 5 percent, while a quarter of the dealers told KeyBanc that they had a sales gain between 5 and 10 […] [Read More]

Dealers in the Carolinas and Florida now have another Web-based dealer-to-dealer auction platform to choose from. Toronto-based dealer-to-dealer auction provider TradeRev announced Monday the company is expanding into these areas. Since KAR Auction Services business unit ADESA acquired a 50-percent stake in TradeRev last August, the company has been planning expansion into the U.S. TradeRev […] [Read More]

Wholesale prices fell by almost 2 percent on a monthly basis in August, and depreciation is expected to ramp up even more this month. According to the latest Guidelines report from NADA Used Car Guide, prices fell at auction by 1.9 percent last month. And looking forward to the end of September, NADA UCG forecasts […] [Read More]