One of the hot topics at the 2016 NADA Convention was the much debated subprime bubble in relation to rising delinquency rates. Again, industry experts worked to calm everyone’s nerves about Fitch Ratings’ latest report, which brought to everyone’s attention that as of February, 60-day delinquencies had risen to 5.16 percent, the highest rate since […] [Read More]

ADESA said Wednesday it has named Jason Ferreri executive vice president of online services in the U.S. Ferreri has been with the company since 2004 and his most recent role was as senior vice president of commercial sales for ADESA. In the new position, he will report to ADESA president and chief executive officer Stéphane […] [Read More]

Despite some slight surges in pricing last week, Black Book shared new data this week that shows additional truck segments may be feeling more pricing pressure, resulting in many trucks holding their values less than they have in previous years. Year to date, Black Book indicated all truck segments have performed worse in comparison to […] [Read More]

Fiat Chrysler Automobiles and shopping website CarGurus announced an agreement on Wednesday that provides the automaker’s franchised dealers an opportunity to advertise and post their certified pre-owned vehicle inventory on the CarGurus site. Executives highlighted the agreement puts dealer CPO vehicle inventory in front of 20 million monthly unique automotive shoppers on the CarGurus website […] [Read More]

DealerRater announced the official release of CustomerConnect, a new product that aims to connect the in-market shopper and a top-reviewed dealership salesperson in real time — and before the showroom visit. DealerRater found through a recent survey that 97 percent of prospective car buyers would rather choose a salesperson or service advisor to work with […] [Read More]

Over the years, the Internet role’s in car research opened up greater access to information and pushed more of the consumer decision-making online, DealerRater chief executive officer Gary Tucker said in an interview here at the NADA Convention. Choices that were largely offline-based — what am I going to buy? What price is fair? What […] [Read More]

Feedback from recovery professionals who attended this year’s North American Repossessors Summit (NARS) highlighted how much the event was successful and demonstrated the ongoing improvement and evolution of the space. Organizers of the event hosted by American Recovery Association indicated that the summit ushered in a “new era” for the recovery and remarketing industry. From […] [Read More]

Group 1 Automotive increased its U.S. used-vehicle sales by more than 6 percent in the first quarter, retailing close to 27,000 units. Specifically, it sold  26,831 used retail units, up 6.7 percent year-over-year. Used retail revenue in the U.S. was up 9.1 percent at $558.76 million. Gross margin percentage on used retail sales was 7.8 […] [Read More]

On Wednesday, General Motors Financial highlighted the winners of its nationwide Auction of Excellence program. This year marks the first time GM Financial has recognized two winners — one for open and one for closed sale performance. Recipients were chosen after reviewing each of the company’s 46 auction partners’ performances in customer service, marketing promotions, pre-sale […] [Read More]

General Motors Financial continues to move away from a company that predominantly generates subprime paper. During the first quarter when the company saw its net income rise to $164 million, representing a climb of 14 million, GM Financial president and chief executive officer Dan Berce highlighted how much more prime paper the company originated during […] [Read More]