Cox Automotive and the National Association of Minority Automobile Dealers presented its Innovation Award to a Texas dealer principal during its awards dinner at the 2015 NAMAD Conference on Thursday.                                                      Cox Automotive’s vice president of customer and […] [Read More]

While the Office of the Comptroller of the Currency acknowledged vehicle installment contract delinquencies are are at “manageable” levels now, FICO’s analytic team recently offered a pair of recommendations to help finance companies protect profitability in case those conditions deteriorate. The first recommendation FICO shared in a recent blog post was how finance companies should […] [Read More]

When IDDS Group co-founder and chief executive officer Max Zanan arrives at a dealership to conduct a consulting and training session, he acknowledged that he rarely sees any documents hanging within the F&I department that shows managers are certified through the Association of Finance & Insurance Professionals (AFIP). As a result, Zanan insisted dealerships are […] [Read More]

Associates from GSFSGroup, a nationwide provider and administrator of F&I products, recently banded together to honor the nation’s military veterans by collecting, assembling and delivering hundreds of care packages to the Michael E. DeBakey VA Medical Center in Houston. The leadership team reviewed several options for community service and officials indicated this project struck a […] [Read More]

An upcoming mark-up of a proposed Republican transportation bill featuring regulatory and consumer protection reforms, which may contain several provisions that could directly impact dealers, is scheduled for Wednesday morning. And several industry sources have already offered their thoughts on this measure (more on that below).  Update: check out some of the ramifications for used-car dealers […] [Read More]

If you’re having trouble finding a low-mileage unit in the off-rental lanes, don’t be alarmed. Manheim discovered the average mileage for these units reached a new high earlier this year, surpassing 50,000 miles for the first time. That amount is more than double the low points Manheim spotted. The industry saw average of about 25,000 […] [Read More]

Given their increasing influence on the auto industry, there are several different schools of thought about millennials and their approach (or ambivalence) toward driving and car-buying, many of which have been explored in this publication. Here’s another: they might actually be quite interested in the certified pre-owned inventory on your lot — in fact, possibly more […] [Read More]

Cox Automotive chief economist Tom Webb is confident the used-vehicle industry will eventually surpass the all-time sales record sometime in the coming years; a feat that would require eclipsing the mark of 44.14 million units CNW Research indicated was established 10 years ago. But a return of double-digit margins for dealers on those used-vehicle turns? […] [Read More]

In updating a move the company first discussed this past Tuesday, Copart announced the final results of its modified “Dutch Auction” tender offer three days later. Based on the final count by the depositary for the tender offer, Copart accepted for payment an aggregate of 6,254,061 shares of its common stock at a purchase price […] [Read More]

Though prices in the lanes still remained higher than the first days of summer last year, used-vehicle rates still experienced a significant downturn in June. According to the June edition of Kontos Kommentary, wholesale prices were down 2.5 percent from May, but up 2.4 percent year-over-year.  ADESA chief economist Tom Kontos reported the average price for […] [Read More]