The subprime market in Canada is growing at a rapid rate, and companies in the space are beginning to respond to this ever-expanding piece of the auto industry. In fact, subprime lender Newstart Financial Inc., operating as O/A NewstartCanada.com, announced it is looking for an equity partner in an effort to meet the increased demand […] [Read More]

In a move impacting nearly every segment of its dealer business, AutoNation made a major procedure change on Tuesday, announcing a policy not to sell, lease or wholesale any new or used vehicle that has an open safety recall.  The dealer group indicated this policy will apply to each one of AutoNation's 293 vehicle franchises across […] [Read More]

Vcommerce, founded by former Whann Technology Group executive Kelly Bianchi in June, launched its auctionVcommerce.com website on Monday, providing a platform it says can “bridge several gaps within the wholesale automotive industry.” AuctionVcommerce.com, which was built as an “agnostic, third-party consultant to the industry,” is designed to create online standards for auctions and technology vendors […] [Read More]

While roughly one third of new-vehicle shoppers say they’d consider purchasing a used vehicle for their next vehicle, an increasing number of consumers are gravitating toward the financial and peace-of-mind potential of certified pre-owned vehicles. That’s according to a CPO study from Autotrader in 2013, where 33 percent of new-vehicle shoppers said they would consider […] [Read More]

For consignors, there is certainly some strategy involved when it comes to balancing which cars are sent to physical auctions or sold online, which ones are offered directly to dealers, and so forth. We asked John Mathiowetz — an honoree in our inaugural Remarketing and Used-Car Industry's 40 Under 40 and the manager of regional car […] [Read More]

The vehicle recovery sector of the automotive business is arguably one of the most difficult areas of the industry to navigate. The lines cross between areas such as financial compliance and consumer protection, with state and federal regulations governing every step of the way. As part of our inaugural Remarketing & Used-Car Industry’s 40 Under […] [Read More]

Three other factors besides vehicle dependability triggered a 34-percent spike during the past 12 years in the average time for a new vehicle to enter the used market for the first time. According to the latest report from the Used Car Guide division of J.D. Power, that average time moved from 48.2 months in 2003 […] [Read More]

The more the Consumer Financial Protection Bureau highlights details about its consumer complaint database, the more industry associations make their own grievances about how the regulator constructs its reports, which are often critical of how providers are performing. The American Financial Services Association emphasized that the information in the CFPB’s consumer complaint database is “not […] [Read More]

A Pennsylvania independent dealership reached a settlement agreement with the state attorney general, who alleged the store leased vehicles that needed considerable amounts of repair work and used a lease agreement that did not comply with federal law. Attorney General Kathleen Kane said the dealership, Credit Connection Auto Sales, offers vehicles on a lease-to-own basis […] [Read More]

Sam’s Club announced today its new Auto Buying Program, powered by TrueCar, that it says provides guaranteed savings off of the MSRP on new cars and exclusive savings on used cars for its members. According to the company, Sam’s Club members have access to more than 10,000 TrueCar certified dealers nationwide. “Whether it’s your first […] [Read More]