The Ontario Motor Vehicle Industry Council announced this week it is cracking down on a BMW salesperson for what OMVIC management is calling an elaborate vehicle export scheme. George Chan — a salesperson employed as a business manager at a BMW dealership in Markham —  has been charged by OMVIC for falsifying information and furnishing […] [Read More]

With the closing weekend of August upon us, Hudson Cook senior partner and chairman Tom Hudson shared his Top 10 list of practices buy-here, pay-here dealers need to recognize so they not only avoid a bad month, but the possibility of being on their way out of business. Items such as promissory notes, deal jackets […] [Read More]

It is late summer 1995 in New York City — one year before its Yankees reignited their baseball dynasty and won their first of four World Series in five years, one year after its Rangers reached hockey’s mountaintop and its Knicks got oh-so-close in basketball. And meeting in the singles finals of the U.S Open tennis […] [Read More]

Perhaps the most recent quarterly performance by America’s Car-Mart shows that GPS technology cannot singlehandedly improve charge-offs and credit losses for buy-here, pay-here operators. During a quarter where retail sales and revenue improved, Car-Mart executives said they were “very disappointed” with net charge-offs as a percent of average finance receivables rising 7.8 percent in the […] [Read More]

After making a big splash earlier this month with news that Cars.com founder and former president Mitch Golub had joined its board of directors, DRIVIN appointed a veteran of KAR Auction Services and the co-founder of CarBuyCo as its vice president of partnerships. DRIVIN, a recently launched online solution that aims to help dealers secure […] [Read More]

It was announced this week that Kia Canada has a new vice president and chief operating officer. Chosen for the role is Ted Lancaster, who brings with him more than 20 years of automotive industry experience. The new VP will be responsible for both the daily and strategic operations of the sales, marketing, after sales […] [Read More]

Of course, most dealers realize that the happier a customer leaves the store, the more likely he or she is to come back. That said, going the extra mile and “delighting” customers by providing an impressive service experience works to ramp up retention and also opens up pathways to significant revenue potential. That’s according to the […] [Read More]

Leasing continued to remain strong during the second quarter, according to the latest State of the Automotive Finance Market report that Experian Automotive released on Thursday. But after looking at those recent leasing deals being booked, dealers might have to wait a little bit longer for those vehicles to come back around as possible units […] [Read More]

The gap between averages associated with new-vehicle installment contracts and used-vehicle deals continues to widen, while the total amount financed as well as stretching terms are on the rise, too. The industry reached a point on Thursday where Experian Automotive announced that the difference between the average monthly payments for new and used vehicles reached […] [Read More]

AutoCanada Inc. announced this week it has added another store to its lineup in British Columbia with the purchase of Don Folk Chevrolet in Kelowna. This announcement comes after AutoCanada management explained in the company’s second-quarter sales results conference call that low oil prices and a suffering economy in the West wouldn’t deter the dealer […] [Read More]