Consolidated Asset Recovery Systems has been bought by Austin, Texas-based private equity firm Greenridge Investment Partners. The company said in the news release announcing the deal that its senior management team, including co-founders Steve Norwood and Terry Groves, will stay on board and retain a 20-percent stake in the new company. The investment by Greenridge replaces […] [Read More]

Everyone who has been in the car sales business since the dawn of the Internet age will probably agree that, well, things are a lot different than they used to be. Customers are more informed. There are a lot more ways to sell a vehicle. But as the old adage goes, as things change, many stay […] [Read More]

At the close of the third quarter, our nation’s seven publicly traded dealer groups collectively averaged their 25th consecutive quarter of same-store used unit sales increases. Cox Automotive’s chief economist Tom Webb, speaking during the Manheim Index Quarterly Conference Call on Friday, says a 26th is probable, but will be a challenge to achieve. “Slide 14 shows […] [Read More]

The past four years have been the “longest stretch of wholesale price stability” in the two-decade history of the Manheim Used Vehicle Value Index, Cox Automotive chief economist Tom Webb said in his quarterly conference call Friday morning. “And that’s a good thing, because precious few in this industry benefit from volatility in used-vehicle pricing,” […] [Read More]

Used prices were falling in December, and with an influx of off-lease vehicles expected to hit the lanes this year, declines as 2015 wrapped up were just the beginning. And with new auto sales reaching record levels for 2015 — almost 17.5 million — it seems growing used supply with continue to spur depreciation in […] [Read More]

Happy New Year, everyone. Before I speak to simulcast, I would like to take this opportunity to thank Bill Zadeits and his fabulous staff for an incredible and informative NRC 2015 and my panel members at the Executive Session, that each year step out of the box to address current items that are central to […] [Read More]

While finance company executives know it’s important to originate vehicle installment contracts, they also understand it’s vital to keep those accounts current and monthly payments flowing into the company’s account. In an analysis sent this week to SubPrime Auto Finance News, BillingTree head of corporate marketing Dave Yohe previewed three trends that will impact payments […] [Read More]

This week, Wise F&I announced the hiring of Amy Counts as an account executive. The company indicated Counts is responsible for business and relationship development with independent agents by growing Wise F&I product penetration. Counts has more than 18 years of experience in the automotive industry working for Reynolds and Reynolds and RouteOne in roles […] [Read More]

CUneXus Solutions, a provider of omni-channel, application-free lending technology, formed a partnership with Edmunds.com in an effort to collaborate to develop a new generation of vehicle shopping and purchasing solutions. The companies indicated the goal is to have these tools be unveiled this spring. “Edmunds.com is creating the most trusted car shopping experience, and CUneXus’ […] [Read More]

Penske Automotive Group has bought a 49-percent equity ownership stake in a luxury dealership group in Japan known as the Nicole Group. The multi-franchise retailer operates out of Kanagawa and Tokyo, and it features a Rolls-Royce store, a Ferrari store, four BMW stores and three MINI stores. The Nicole Group also has two standalone service […] [Read More]