On Thursday, TrueCar not only reported that it suffered a $14.7 million loss during the second quarter, but the company also said its founder, chief executive officer and chairman Scott Painter will step down as CEO later this year. The company indicated Painter will retire when his successor takes office, which is expected to occur […] [Read More]

When the calendar turned to August, our enthusiasm for Used Car Week ramped up a few more RPMs. The excitement level also was juiced by nearly another dozen sponsors coming aboard for our series of industry-leading conferences that run from Nov. 16-20 at the Phoenician in Scottsdale, Ariz. The latest additions include: CPO Forum Edmunds.com SubPrime […] [Read More]

If you’re a relatively new operator who has never participated in a 20-group style meeting or a veteran dealer who is looking for a fresh collection of professionals to gather ideas, the National Alliance of Buy-Here, Pay-Here Dealers is hosting its next event that’s designed specifically for these reasons. The NABD Boot Camp is a […] [Read More]

Another online report has surfaced indicating the Consumer Financial Protection Bureau is urging a large auto finance company to modify its practices regarding dealer participation as part of negotiations to settle alleged discriminatory practices. The Wall Street Journal cited what the report described as people familiar with the matter who indicated the CFPB is asking […] [Read More]

As the prices for oil continue to drop dramatically, this larger economic trend may begin to affect lenders in the auto space and beyond. A recent study from TransUnion asserted consumers and lenders should expect “sharp increases” in credit and loan product delinquencies in the near future, especially in the oil-heavy regions of Alberta and […] [Read More]

The Ontario Motor Vehicle Industry Council reported recently it has caught another curbsider, or business acting as a motor vehicle dealer without registration. This is a violation of the Motor Vehicle Dealers Act, and Zhijun Wang of Toronto was recently fined $11,000 after pleading guilty to curbsiding charges. He also plead guilty to breaching the […] [Read More]

If it’s not on your radar already, one industry trend will be soon as the stats become increasingly hard to ignore. That is, electric vehicles’ alarming depreciation rates. According to new data and insight from Black Book, EVs continue to face much heavier depreciation rates than their gas counterparts. In some instances, consumers can shell […] [Read More]

Today’s installment of the Q&A series from the recent Power 300 issue of Auto Remarketing features Jared Rowe, the president of Autotrader. In this story, Rowe covers everything from certified pre-owned opportunities to facilitating quicker F&I processes and the consumer experience. Auto Remarketing: You’ve said in the past that although good work is being made […] [Read More]

Identifix announced on Wednesday the enhancements it has made to Direct-Hit, the company’s online automotive service tool. These changes include improvements to the tool’s information database as well as visual improvements, including fully interactive color wiring diagrams. Aiming at being a one-stop tool for vehicle repair professionals, the Direct-Hit tool is now integrated with vintage […] [Read More]

Lithia Motors announced Wednesday its acquisition of Bitterroot Ford. The store, located in Missoula, Mont., will be renamed Lithia Ford of Missoula. Lithia expects the store to add $50 million in annual revenues to the group’s portfolio. Bryan DeBoer, Lithia’s president and chief executive officer, noted the importance of the acquisition. “This addition marks our […] [Read More]