Along with listing the top 10 states where used sales climbed most during the second quarter, the latest Used Vehicle Market Report compiled by Edmunds.com indicated that the average used-vehicle retail prices hit a record high in the second quarter. Aided in part by certified pre-owned units, Edmunds' analysis showed retail prices came in at […] [Read More]

Two members of the U.S. Senate Committee on Commerce, Science, and Transportation continued their quest for automotive safety by sending a letter to a Takata executive  requesting that the company “voluntarily recall all vehicles containing Takata airbags.” This request was made by Sen. Richard Blumenthal of Connecticut and Sen. Edward Markey of Massachusetts, citing a recent National Highway […] [Read More]

In the latest development in the previously reported $4.2 billion cash deal, Cox Automotive and Dealertrack Technologies on Friday extended the offering period of its previously announced tender offer to purchase all of the outstanding shares of common stock of Dealertrack for $63.25 per share. Officials said the offer, which was previously scheduled to expire […] [Read More]

After recapping what happened in July and the early part of this month, Jonathan Banks of NADA Used Car Guide offered projections of how wholesale prices might behave as the industry ventures into autumn during September and October. In the latest online video highlighting commentary from NADA UCG’s executive analyst, Banks predicted that overall wholesale […] [Read More]

Special finance software solution provider ProMax Unlimited reviewed dealership data from July and compiled the top 20 highest grossing vehicles in three different subprime credit tiers.  The three lists should be especially helpful for dealerships and finance companies that originate deliveries associated with models from Chevrolet, Hyundai, Ford and Dodge In a blog post, ProMax […] [Read More]

NextGear Capital announced a series of strategic moves this week to enhance its resources for dealers, including plans to add up to 200 new jobs by 2018. The company also intends to make substantial investments exceeding $50.88 million to lease and renovate its corporate offices in Carmel, Ind., to support its growing customer service and […] [Read More]

Vanguard Dealer Services — an agent and administrator of F&I products and services to franchised dealers nationwide — formed a partnership this week with Southfield Capital, a lower middle market private equity firm. Officials indicated Vanguard's senior management, including chief executive officer Jim Polley along with Ed Reitz and Mike Seergy, will continue in their […] [Read More]

Reynolds Document Services, a part of Reynolds and Reynolds, joined forces with the Maryland Automobile Dealers Association (MADA) this week to establish the Reynolds LAW Maryland F&I Library. The library is a comprehensive catalog of standardized, legally reviewed F&I documents for Maryland dealers. The documents in the LAW Maryland F&I Library are available in both […] [Read More]

Nine more automakers, auctions and other industry service providers all wanted to be part of the information and networking activities at Used Car Week and decided to become a part of the expanding list of sponsors and exhibitors. The Cherokee Media Group team organizing this year’s events — which run from Nov. 16-20 at the […] [Read More]

In a move executives see as a pathway to satisfy regulators’ concerns, DealerSocket capped off its User Summit on the West Coast on Thursday by announcing a development with Dealertrack Technologies. The two technology companies entered into a definitive agreement under which DealerSocket will acquire Dealertrack’s Inventory+ business in an all-cash transaction for approximately $55 […] [Read More]