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]

Kia Canada is utilizing the world’s most popular and accessible sport, soccer, to help support underserved youth. The company began its fifth annual Drive Change initiative on Friday, joining three Canadian Major League Soccer teams in Montreal, Vancouver and Toronto to put on free soccer camps while also leveraging its 188 Canadian dealers and business […] [Read More]

There was a 4.79-percent increase in the Fitch Ratings auto lease residual value index in June, which was fairly close to the behavior shown in the prior six months. But here’s the thing: residual values were trending downward in the first half of the year, and that’s likely to be the case in the second […] [Read More]

Perhaps vehicle buyers on your lot aren’t interested in every single new bell and whistle a model can have nowadays. Or store personnel isn’t explaining how the technology works thoroughly enough at the time of delivery. Those findings and more are part of the J.D. Power 2015 Driver Interactive Vehicle Experience (DrIVE) Report, which found […] [Read More]