Asbury Automotive Group sold more than 21,000 used cars last quarter and it has generated more than $1.3 billion in used retail revenues this year. But what about its same-store results? Gross profits? Gross margins? We’ve got a rundown below that gives a better glimpse of how the public retailer performed in the third quarter […] [Read More]

Putting the auction at the center of the retail trade-in process — sounds odd, right?  Not to Selectbidder, a Web platform and smartphone app that aims to utilize the auction’s traditional role of dealer network and bring it to the front end of the retail process to help get the dominos dropping a bit faster. […] [Read More]

Insurance solution Fetchaquote.com announced Wednesday the integration of its auto insurance service with the Wayne Reaves Dealer Management Software. According to the company, this integration will allow car shoppers the ability to quickly obtain multiple insurance quotes and purchase a policy online while present at a dealership. Joseph Kindley, Fetch’s president, explained that by working […] [Read More]

As Kelley Blue Book spotted softening activity both on the retail and wholesale sides associated with the German OEM, Wantalease.com highlighted that Volkswagen is among several automakers continue to offer aggressive vehicle lease deals for less than $150 per month. Current deals on the Jetta S stand at $139 monthly, and the Passat 1.8T Limited […] [Read More]

Credito Real — an institution in Mexico that boasts five lines of business including used-vehicle installment contracts — announced on Wednesday that it acquired 65 percent of the equity interests issued by AFS Acceptance, a company that specializes in subprime auto financing. Credito Real said it assumed a value $18 million for the 65 percent […] [Read More]

Lithia reported its best-ever third-quarter earnings in company history this week. Leading the way? Used-vehicle sales. Looking at its third-quarter operating highlights, Lithia’s used-vehicle retail sales on a same-store level increased by 13 percent compared to Q3 2014, representing the biggest jump of the four different metrics that experienced double-digit growth quarter-over-quarter. Lithia’s president and chief […] [Read More]

Re3 Conference presenting sponsor Digital Recognition Network launched new product on Tuesday that the company is calling its Enterprise Solution — a value-based subscription model for “all-you-can-eat” access to vehicle location data. Finance companies that rely on DRN’s vehicle location data to recover more assets now can employ this data across their portfolio of loans […] [Read More]

GWC Warranty, a provider of used-vehicle service contracts and related finance and insurance products sold through dealers, recently hired dealer consultants in four new markets. In adding four new dealer consultants, GWC is now represented with a dedicated presence in the following locations: — Des Moines, Iowa — Kansas City, Mo. — St. Louis — Minneapolis […] [Read More]

Online vehicle retailer Carvana continued its expansion on Tuesday, broadening its physical footprint in the Lone Star State. Coming aboard to join the company’s delivery markets is Austin, Texas. Carvana now can cater to customers in seven markets, including: Atlanta Austin, Texas Birmingham, Ala. Dallas Charlotte, N.C. Houston Nashville, Tenn.  Part of the reason for […] [Read More]

The auction lanes are showing some interesting trends when it comes to price movement, including increasingly sharp depreciation for certain Volkswagen diesel models in light of the ongoing emissions scandal, and a shifting truck market. The latest Black Book Market Insights report took a look, in particular, at two movements in the market: the depreciation […] [Read More]