Hitching a ride to the airport. Securing a designated driver for the holiday party. Getting from one meeting to the next while you’re at that business conference in Chicago. The ways in which people use Uber are quite varied. But perhaps as equally as diverse is the auto industry’s involvement with the car-hire service. Everyone […] [Read More]

My first job after graduating college 10 way-too-short years ago was as a sports reporter for an afternoon newspaper in Brunswick, Ga. Not long into my tenure, The Brunswick News (#SpecialShoutout to Coastal Georgia!) switched to a morning paper format. Each distribution time had its merits. With an afternoon paper, you might get to throw […] [Read More]

Buy-here, pay-here operators who report their customers’ successful payments to a credit bureau should take note. Allegedly not completing the process correctly according to the Consumer Financial Protection Bureau cost BHPH chain CarHop more than $6 million in penalties. On Thursday, the CFPB said it’s taking action against CarHop, one of the country’s biggest buy-here, […] [Read More]

FactorTrust released its latest Underbanked Index this week, showing insight into significant shifts in income, employment and default rate trends over a three-year period within this specific group of consumers. The Index, which provides a range of data points including demographic, loan behavior, seasonal effects and others, helps shed light on underbanked consumers and highlights […] [Read More]

AutoCanada said this week its latest offering of common shares earned the company $75 million, a sum  the dealer group says it will use to cut down on debt under its revolving credit facility. AutoCanada had previously announced it issues 2,950,000 common shares at a price of $25.50 per share. “The company will use the net […] [Read More]

A brand new conference focusing on diversity in the Canadian automotive industry is headed to Toronto this spring. Cherokee Media Group — who also hosts the Auto Remarketing Canada Conference — will be launching a new event, titled, “Women & Automotive.” The day-long conference, designed for men and women and scheduled for April 6 at […] [Read More]

CarStory released its monthly Used Vehicle Deal Alert on Wednesday, highlighting the best deals it’s seeing for its customers across the country. On the reverse side, however, is something particularly useful for dealers: the top five most popular used vehicles searched for on CarStory's site. Here’s the list, based on online searches by make and model, according to CarStory: CarStory's […] [Read More]

It was announced this week the Steele Auto Group has added another Nova Scotia store to its lineup, bringing the dealer group's store count to 19. Christopher Megaffin has sold his Colonial Honda dealership to Steele Auto Group. The Megaffin family has run the Halifax dealership on Robie Street for more than 30 years. Due […] [Read More]

Citing historical trends, NADA Used Car Guide points out that November saw an easing in used-vehicle depreciation, staying the course for the typical seasonal pattern of the industry. November’s depreciation – 1.9 percent – was noticeably lower than October’s 2.7-percent drop. In the December edition of Guidelines, NADA UCG’s seasonally adjusted used-vehicle price index rose 1 percent […] [Read More]

With an interest rate increase widely expected to be handed out by the Federal Reserve, a quartet of experts gathered by the American International Automobile Dealers Association for a webinar this week touched on what impact the move might have on auto financing. If an increase of 25 basis points comes from the Fed that’ […] [Read More]