After reporting a 15-percent increase in used retail revenue, Asbury Automotive execs delved deeper into the topics of used margins and pre-owned inventory, and also gave an update on the dealer group’s standalone used-car outlet program, Q Auto. Although Asbury dealers were bringing in revenue of $21,238 per used vehicle retailed, up 9 percent from […] [Read More]

As part of the NADA University Online Webinar Series, the National Automobile Dealers Association announced recently it will be hosting a webinar on Wednesday to help dealers learn how to enhance the customer experience during the online retail process. The webinar, entitled “Why Online Retailing Will Keep You in Control,” will be presented by Mike […] [Read More]

If you’ve noticed your finance office contains a steady stream of customers in their 20s signing new-model lease contracts, don’t be surprised or alarmed. New analysis from Edmunds.com indicated millennial buyers opt to lease their vehicles at a higher rate than the overall buying population. And for dealers in certain parts of Michigan, Minnesota and […] [Read More]

The Appraisal Lane (TAL), a trade network and communications platform for used-vehicle dealers, announced Tuesday it has hired TrueCar’s former vice president of dealer development. Taking on the position of vice president of sales for TAL is Kenneth Potter, bringing experience from a variety of other well-known organizations, including positions such as the general manager […] [Read More]

Asbury Automotive Group released its second-quarter results Tuesday morning, reflecting a significant increase in used-vehicle retail revenues. Total revenues were up 12 percent to $1.7 billion while gross profit increased by 9 percent, boosted in part by a 15-percent spike in used vehicle retail revenue. "Our current quarter results demonstrate, once again, the strength and […] [Read More]

Last week in the lanes brought with it price declines for all of the car segments, while once again pickup trucks held their value — a trend that has been witnessed for most of 2015. “Car segment values continue to decline at a steady pace while most pickup and SUV truck segments enjoy strong retention,” […] [Read More]

MVTRAC president Luke Smith recently was named the Leukemia & Lymphoma Society's 2015 Man of the Year. Collectively, Smith along with the other candidates from the Illinois chapter raised more than $600,000 to help cure leukemia, lymphoma, Hodgkin's disease and myeloma and improve the quality of life of patients and their families. The 10-week campaign held […] [Read More]

Exactly 239 years ago, a group of prominent individuals got together and created the great nation we live in today. They aspired to build a nation where people could freely voice their opinions and concerns in order to help better the world around them. Then 188 years later (51 years ago), another group of individuals […] [Read More]

F&I forms: the biggest pain-point for many auto shoppers — as well as many dealership employees. Reynolds and Reynolds is partnering with the Nova Scotia Automobile Dealers Association (NSADA) to develop new F&I forms in an effort to help dealers simplify and smooth F&I transactions. As part of the partnership, Reynolds Document Services has worked […] [Read More]

Leveraging the possibilities of alternative credit data to enhance the underwriting process percolated several times during industry events earlier this year. On Tuesday, FactorTrust responded to the inherent need for increased credit opportunities for non-prime consumers by rolling out a new tool the consumer data provider is calling LendProtect Auto Score. FactorTrust explained the LendProtect Auto […] [Read More]