CarMax president and chief executive officer Tom Folliard likes how the company is positioned to take advantage of the swelling projection of off-lease vehicles expected to fill the auction lanes next year and beyond. During the company’s most recent conference call, Folliard was asked to compare how CarMax will leverage this chance as compared to […] [Read More]

While it may seem we’re swimming through a painfully large number of automotive recalls on a daily basis, that doesn’t change the fact that cars simply last longer, on average, than ever before. This is reflected by the most recent U.S. vehicle registration data from IHS, which shows that the average length of vehicle ownership […] [Read More]

Late on Thursday, Cox Automotive and Dealertrack Technologies issued a one-sentence update on the planned acquisition first announced back on June 12. The companies have extended the tender offer four times and now say the transaction is expected to close in October. Regulatory hurdles and securing a majority of shareholder approval have been some of […] [Read More]

National Preparedness Month — an initiative to encourage citizens to make their emergency plans in advance of disasters such as hurricanes, forest fires, power outages and more — is coming to a close, and CDK Global is taking note. The digital marketing and information technology company for the auto space said it wanted to remind […] [Read More]

DealerVault has added another company to its Premier Network of third-party service providers. SiriusXM Radio is the newest addition, the company announced on Friday. Through SiriusXM’s integration with DealerVault — which works to simplify the dealer enrollment process in the SiriusXM Pre-Owned Program — dealers can now offer their customers a “All Access” subscription to […] [Read More]

On the day CarMax Auto Finance completed the second quarter of its current fiscal year with a 6.2-percent increase in net income, the financing arm for the used-vehicle retailer came within the jurisdiction of the Consumer Financial Protection Bureau thanks to the larger participant rule. When asked how this additional regulatory burden might burden CAF’s […] [Read More]

EFG Companies this week announced student competitors and F&I mentors participating in the first F&I Innovator of the Year Award competition at Northwood University. The competition will pit six teams of Northwood’s junior and senior undergraduate automotive marketing and management students against one another to conceptualize and build a new F&I product while earning course […] [Read More]

Still on the fence about whether to attend the SubPrime Forum and other parts of Used Car Week? Well straight ahead is a free preview of how the financing dialogues and presentations will unfold with one of leading experts who will be getting the SubPrime Forum started. The next Used Car Week sneak peek webinar […] [Read More]

In addition to the negative impact on new VW sales, which will run into the billions, one can only imagine the damage that this cover-up will have on residual values. The world can scrap last month’s ALG lease residual guidebook. At lease termination, the current lease portfolio will experience significant losses. While, predicated on supply […] [Read More]

It’s no secret: Taking advantage of your buyer’s behavior will bring you more leads and can be what you need to edge out the competition. As Forbes Magazine puts it, "When you find the gaps between what your competitors are doing and what the market wants, your own value proposition and strategy becomes sharper." So, […] [Read More]