Wolters Kluwer Financial Services recently announced the newest version of its AppOne indirect loan origination platform, designed specifically for automotive, marine, powersports and recreational vehicle dealers. The company outlined the solution’s enhancements, including self-service capabilities for dealers to help facilitate with financial institutions, integrate third-party applications (such as DMS) and take credit applications securely online. […] [Read More]

Not only are there more franchised dealerships in the United States than there were at the end of 2014, but the average number of new-vehicle sales per dealership is also trending toward an all-time record. That’s according to statistics from Urban Science, which has released its 2015 midyear Automotive Franchise Activity Report. The data shows that the number […] [Read More]

There continues to be a great deal of misconception in sales managers’ thinking about why they’re not able to increase used-vehicle volume. Industry metrics confirm that those dealers not performing at a minimum 1-to-1 new-to-used retail sales ratio are just not participating in the opportunities of the current market. So why do our managers continue […] [Read More]

For the first time this year, the average monthly wholesale used-vehicle price fell below $10,000, as July continued a string of heavy sequential price drops that has now reached three consecutive months. That’s according to the July edition of Kontos Kommentary, where ADESA chief economist Tom Kontos attributed the continued price drops to increasing supply. “Supply growth continues to […] [Read More]

LotLinx has a new chief executive officer. Named to the role on Tuesday was Denise Chudy, an original founder of the company who has been with LotLinx since its inception. This news comes a day after it was announced that former CEO Dean Evans has taken on the role of chief marketing officer with Hyundai […] [Read More]

Trends shifted a bit in the lanes this past week, with a reversal of the pattern of depreciation the industry has come to expect this year. Last week, according to the latest Black Book Insights report, the car segments averaged lighter-than-normal depreciation, while trucks saw prices drop at a more rapid rate. As far as […] [Read More]

Numerous reports highlighting the alarming depreciation rate of electric vehicles have been surfacing, and this trend could be a challenging one for the industry. In fact, many of the 2012 model EVs now cost less than their gas counterparts — surprising, after new premiums were so steep just a few years ago. And Larry Dixon, […] [Read More]

Dealers with import brands had nice gains in certified pre-owned sales during July, as yearly sales continue down a blistering path. First, Asian brands sold 104,555 certified vehicles in July (up 9.5 percent), according to Autodata Corp. Meanwhile, their year-to-date figures are at 684,778 units through seven months, which beats the year-ago pace by 8.1 percent. […] [Read More]

Domestic automakers increased their certified pre-owned sales by more than 14 percent in July, and one of the Big 3 had its strongest CPO month of all time. According to Autodata Corp., Fiat Chrysler Automobiles had its best month ever for certified sales. Including the Fiat brand, FCA US had 16,710 CPO sales in July, […] [Read More]

Buy-here, pay-here dealership group J.D. Byrider announced this week it has opened its second franchise in Virginia’s capital of Richmond. This marks the sixth J.D. Byrider store in Virginia, and it is the second Virginia dealership for franchisee Craig Baker, who opened the first J.D. Byrider store in the city back in 2012. The new […] [Read More]