There has been a change at the top when it comes to the add-on features that CarMax’s used-car buyers most often purchase. The best-selling add-on for these used-car buyers is now leather interior, according to CarMax sales data analyzed in the company’s 2015 Used Car Shopping Report. Remote start technology was the most popular add-on […] [Read More]

With customers shopping online more and more, most dealers are already very familiar with the term multi-channel, as the ways shoppers search for cars online are increasing daily, as well as the devices they use. But a new report from Ernst & Young takes it a step further. The company’s Future of Automotive Retail report […] [Read More]

Greg Penske, chairman and chief executive officer of Penske Motor Group (PMG) has been named as one of the highest-rated CEOs among small and medium companies by Glassdoor, a jobs and careers marketplace, which released its annual report recognizing this year’s top leaders in companies throughout North America and Europe. Officials explained that CEO approval […] [Read More]

As part of our “Top 100 Used Car Dealers: Franchised Edition" issue of Auto Remarketing, we asked some of the nation’s leading franchised stores about the challenges they face in the pre-owned market and the strategies they use to overcome those hurdles. Below is what four of the Top Franchised Dealers had to say. Starting in the Midwest, […] [Read More]

The National Independent Automobile Dealers Association announced today that Cooper Tire has joined NIADA as the association’s newest National Member Benefit Partner. Cooper Tire, which is the fourth-largest tire manufacturer in the world, will offer a lucrative tire sales/service member benefit program for NIADA members. “Cooper is an excellent partner and we are proud to […] [Read More]

While a pair of industry associations indicated they weren’t blindsided when the Consumer Financial Protection Bureau released its final larger participant rule this week, an attorney with more than 30 years of experience cautioned finance company executives about not ignoring an important portion of what the CFPB emphasized. Along with the National Automotive Finance Association […] [Read More]

Southern Auto Finance Co. (SAFCo) recently hired a former American Credit Acceptance (ACA) executive to be chief operating officer of the subprime auto finance company. Joining SAFCo after having been COO of ACA since 2009 is Tom Holgate. “It’s an honor to have someone of Tom’s caliber join our team,” SAFCo founder and chief executive officer George […] [Read More]

Credit Acceptance Corp. announced that week that the company increased the amount of its revolving secured line of credit facility with a commercial bank syndicate. The company raised the line from $235.0 million to $310.0 million while also extending the maturity of the facility from June 23, 2017 to June 22, 2018. “There were no […] [Read More]

PassTime, a provider of GPS and payment assurance technology solutions, announced the company raised more than $10,000 during this year’s National Alliance of Buy-Here-Pay-Here Dealers Conference in Las Vegas. Through its “mustache campaign,” PassTime – a key sponsor and exhibitor of the conference — offered to make a donation for every photo taken at its […] [Read More]

When a race car driver finishes blazing through left turns around the track at nearly 200 mph, whom does he or she often thank during the post-race TV? That’s right. The driver gives props to the sponsors.   And we dig that.  We at Used Car Week love our sponsors, too. Just as it takes […] [Read More]