Operators now have a clear guide on how to avoid getting into trouble with the Federal Trade Commission. Cindy Liebes, director of the FTC’s Southeast region, shared what she deemed to be the “seven deadly advertising sins” buy-here, pay-here dealers commit that place them in the center of her regulatory radar. “No doubt, one of […] [Read More]

Perhaps auto finance companies will know more about interest rates this week since Stifel Nicolaus & Co. chief economist Lindsey Piegza called the upcoming meeting of the Federal Open Market Committee “arguably the most widely anticipated event in the aftermath of the Great Recession.” Piegza recapped recent remarks by Federal Reserve president William Dudley, who […] [Read More]

In honor of local students going back to school, Ally Financial recently announced that it will be donating 3,000 new library books to schools in the Detroit Public School district. Officials highlighted elementary and middle school libraries throughout the district will receive 50 new books that focus on various financial literacy skills and concepts with […] [Read More]

NextGear Capital’s growth is blossoming beyond North America. Executives from NextGear Capital joined representatives from their NextGear Capital UK subsidiary and the Society of the Irish Motor Industry in Dublin on Monday to commemorate the company’s launch into Ireland. Officials highlighted this expansion is the result of the Cox Automotive company's rapid success of its […] [Read More]

One auto tech company aims to make the auction a part of the trade-in process. Selectbidder officially announced today its new platform for real-time bids on dealer trade-ins, aiming to connect auctions, dealers and dealer customers in a way to streamline the trade-in process. Currently rolling out its platform to independent auctions across North America, […] [Read More]

Two dealer-centric events and another one coming up later this month all are giving DealerSocket chief executive officer Jonathan Ord plenty of opportunities to interact with current dealership clients as well as prospects. Along with four primary wants, Ord shared the two main strands of questions he’s received as the leader of the company that’s […] [Read More]

Are you seeing a lack of talented techs come through your doors? Many dealers are; the industry is buzzing about a shortage that may affect your bottom line for years to come. Mid-career mechanics are retiring, yet fewer schools are able to teach the advanced skills that today’s cars require, and there remains a stubborn […] [Read More]

On Friday, Xcira unveiled its new floor plan management system, which will begin its launch sequence at BSC America’s Bel Air Auto Auction later this month. Designed to allow an auction to manage its own floor planning program for its dealers more efficiently, the company highlighted the system is the most recent in a series […] [Read More]

Prices in the lanes for prime used vehicles saw depreciation slow even further in August. According to the latest Blue Book Market Report from Kelley Blue Book, prices for 1- to 3-year-old used vehicles held their values better last month than movement seen earlier this summer. The average vehicle value to younger used vehicles declined […] [Read More]

The ServNet Auction Group has brought in a new member: Akron Auto Auction. Announcing the new addition, ServNet president Patty Stanley said: “It continues to be our goal to identify the best independent auto auctions in markets not currently covered by one of our ServNet member auctions, and we are delighted to announce that Akron Auto […] [Read More]