The concentrated effort by the National Independent Automobile Dealers Association and its allies in Oregon paid immediate dividends. Less than a week after NIADA shared an update about a proposal in the Oregon legislature aimed at placing severe restrictions on the state’s buy-here, pay-here dealers, the measure is officially off lawmakers’ agenda following a massive […] [Read More]

The average franchised dealer generated more than $15 million in sales from the used-car department last year, and more than two-fifths of the used cars those dealers combined to sell arrived at the stores through new-car trade-ins. That’s according to NADA Data 2014, which is the National Automobile Dealers Association’s annual look at the financial […] [Read More]

CarLotz, a Virginia-based used-vehicle consignment business serving the sale-by-owner and corporate vehicle and motorcycle markets, recently announced the grand opening of its newest consignment and retail store. Coming on as the fifth location for the company is a facility at 5055 Virginia Beach Blvd. in Virginia Beach. “We opened our first Hampton Roads store on […] [Read More]

Manheim Nevada will host the 2015 World Automobile Auctioneers Championship (WAAC) on Friday, showcasing more than 100 contestants competing in the categories of best auctioneer, best ring person and best two-person team, in addition to $25,000 in prize money. “The level of talent on display during this competition is unparalleled,” said Janet Barnard, president of […] [Read More]

While also giving a projection of how many total filings there might be this year, the American Bankruptcy Institute reported total U.S. bankruptcy filings fell 15 percent in the first quarter compared to the same span last year. According to data provided by Epiq Systems, bankruptcy filings totaled 205,705 in Q1, off by 15 percent […] [Read More]

Auto marketing and CRM solution provider AutoLoop announced today that it is adding DealAlert, a real-time deal management app, to its lifecycle marketing suite. The app delivers up-to-the-minute deal info to a dealer’s phone within seconds of a request. “We’re very excited to add this unique tool to our already powerful software suite,” said Steven […] [Read More]

Consumer car dealer review site DealerRater announced the findings of its 2015 Consumer Rating Index. Based on nearly 416,000 reviews taken between March 2014 and March of this year, the company ranked manufacturers, on a dealership level, based on a five-point scale. Ranking first among the mass market brands was Subaru, with a score of 4.757 […] [Read More]

Though wholesale prices were on the way up in March, the movement was tempered by expanding used supply. According to analysis shared by Tom Kontos, executive vice president of ADESA Analytical Services, downward pressure from used supply expansion is manifesting through lower conversion rates and price weakness in particular age, sale type, and model class segments. […] [Read More]

A recent consumer survey conducted by Harris Poll on behalf of Ally Financial showed the potential for buyers arriving at the dealership with a savings account containing enough money to make a down payment high enough to satisfy finance company underwriting demands isn’t too strong. The survey showed only half of Americans set financial goals […] [Read More]

Based on its latest filing with the Securities and Exchange Commission, Consumer Portfolio Services is looking to collect more resources to ramp up its subprime auto financing. The company said in the filing that it’s offering renewable unsecured subordinated notes to new purchasers and existing noteholders up to a maximum of $50 million in aggregate principal […] [Read More]