Lithia’s leadership has been long touting a goal to average 75 used-vehicle sales per store per month. At the end of the first quarter this year, the group was sitting at roughly 57 units per store. By the end of September, Lithia’s monthly average has seen a solid gain. “On a 12-month rolling average, we […] [Read More]

KAR Auction Services has hired former Hyundai Capital America executive Amy Bouck as executive sales director of ADESA. Bouck, who is a 2015 Women in Remarketing honoree, will manage several major national sales accounts, both at ADESA physical auctions and within the online space, the company said.  She will report to vice president of sales […] [Read More]

Following a public comment period, the Federal Trade Commission recently approved a final consent order against BMW of North America, whose Mini division allegedly violated the Magnuson-Moss Warranty Act by telling consumers that the automaker would void their warranty unless they used Mini parts and Mini dealers to perform maintenance and repair work. In March, […] [Read More]

Twenty-six hundred stores. As Auto Remarketing reported earlier this year, that is the number of dealerships nationwide that Lithia Motors' president and chief executive officer Bryan DeBoer maintains his company has on his radar as potential acquisitions. With three third-quarter acquisitions under its belt, one of which includes the only Acura store in Honolulu, DeBoer said the […] [Read More]

Sorry, fellow “Back to the Future” fans. No flying cars (yet). But take heart. Here’s a vehicle-related prediction for 2015 that has a more immediate impact: The year will finish with more than $1.2 trillion in combined revenues from used- and new-vehicle sales, according to TrueCar. In an entry to the company’s Insights blog (published, […] [Read More]

AFS Acceptance chief executive officer Dov Szapiro explained why his company’s decision to sell 65 percent of its equity to Mexican finance institution Credito Real “could not have occurred at a better time.” With growth expectations stemming from originations as well as possibly buying portfolios from related finance companies buy-here, pay-here dealers might have, Szapiro […] [Read More]

The auto loan default rate for September ticked up 2 basis points on a sequential basis but remained 9 basis points lower than a year earlier. The September reading also was just 7 basis points above the all-time low established this summer. Data through September released this week by S&P Dow Jones Indices and Experian […] [Read More]

F&I Express announced this week that it will provide its dealer clients with access to products from the Penn Warranty Corp. through F&I Express’ eContracting platform. Through this new relationship, dealers using the F&I Express eContracting platform will have the ability to sell Penn Warranty service plans, which offer a wide range of coverage options. […] [Read More]

OMVIC announced it has cracked down on a Toronto-area group for curbsiding and doled out fine of over $54,000. Ontario’s vehicle sales regulator charged 2141212 Ontario Corp., operating as Monterey Auto Repair — as well as individuals Amilcar Luis Monte Rey Nunez, Anibal Salomon Monte Rey Rios, Sergio Ruben Monte Rey Nunez, Bianca Daniela Lopez and […] [Read More]

On Sunday, DriveTime is hosting 48 running events across the country during its first DriveTime Kids in Need 5K Fun Run. Officials shared recent estimates that indicate nearly 20 percent of Americans face the burden of unpaid medical bills. Recognizing this need, especially among families with children, each DriveTime dealership and operations center will raise […] [Read More]