AutoNation insisted back in early September that it would be “worth it” to enact a policy not to sell, lease or wholesale any new or used vehicle that has an open safety recall. The dealer group acknowledged that at the close of the third quarter, 16 percent of its used-vehicle inventory wasn’t available for sale […] [Read More]

Penske Automotive Group posted solid gains in the third quarter of 2015, highlighting a 7.7-percent year-over-year increase in overall used-vehicle retail unit sales worldwide. The group has maintained that pace all year, with a similar jump – 7.8 percent, to be exact – in overall used retail units sold in the first three quarters of the […] [Read More]

The Trade-In Marketplace will soon have a new name, and with that, an entirely new experience for consumers and toolset for dealers. The program is being converted into “Kelley Blue Book Instant Cash Offer” during the fourth quarter, Cox Automotive Media Group leadership told a gathering of media on Thursday at its Atlanta headquarters, and […] [Read More]

General Motors Financial president and chief executive officer Dan Berce took multiple opportunities after the finance company reported its third-quarter performance to state that despite being elevated to be the captive for the parent OEM, the company remains a significant institution in the subprime space. Berce first referenced subprime when GM Financial discussed its Q3 […] [Read More]

BillingTree highlighted four main observations from its Consumer Finance Business Strategy and Technology Survey 2015; a project geared to try to understand the usage of payment technology solutions and the priorities of decision-making consumer lending professionals as well as to establish a benchmark to examine year-over-year trends as the industry navigates a shifting business and […] [Read More]

Reynolds and Reynolds recently rolled out the availability of a comprehensive catalog of standardized, legally reviewed finance and insurance documents for franchised dealers in two more states — Oregon and Colorado. The Reynolds LAW Oregon F&I Library contains a variety of resources to help franchised stores. “Automobile retailers continue to face a number of business […] [Read More]

After Sonic Automotive announced record quarterly new and used sales, the company’s third-quarter earnings conference call centered largely around its new standalone used store brand, EchoPark Automotive. In the company’s initial results release, it said that the EchoPark stores retailed 920 pre-owned units during Q3, which is up 4.4 percent from the 881 units sold […] [Read More]

As the National Independent Automobile Dealers Association elevated Steve Jordan to the position of chief executive officer, NIADA also announced Shaun Petersen — who has served as outside regulatory counsel since 2012 — will join the association staff on a full-time basis. Officials said Petersen will become NIADA’s senior vice president of legal and government […] [Read More]

Xtime this week shared analysis that takes a look at how recall service appointments can lead to increased service revenue and opportunities for future business. Since 2014, there have been more than 10 million vehicles recalled in Canada, and during the past 12 months, Xtime has processed 3.2 million service appointments with recalls through its Xtime Retention […] [Read More]

Two automotive retailers in British Columbia were recognized in the automobile category with a 2015 WebAward, which are presented annually by the Web Marketing Association. The OpenRoad Auto Group notched an award, and U.S-based, The Gary Stock Co., was honored for its development of the website for Jaguar Kelowna, of Kelowna, B.C. The Gary Stock […] [Read More]