Carmigo recently announced the launch of its car shopping website of the same name, Carmigo.com, aimed at allowing car shoppers to shop from anywhere they have Internet access with no fee. “When you shop through Carmigo, you build your car online, choose which dealerships you would like to engage with and then salespeople from the […] [Read More]

In a move announced on Wednesday aimed at mitigating risk for finance companies, Digital Recognition Network (DRN) and Recovery Database Network (RDN) said that RDN recently embedded DRN’s Address Scoring solution into the provider’s asset recovery management platform. Company executives highlighted that embedding Address Scoring into RDN can provide finance companies with valuable information earlier […] [Read More]

AutoNation hosted a conference call on Wednesday to recap its first-quarter performance, which was highlighted by a record Q1 earnings per share from continuing operations of $0.97, a 29-percent increase compared to 2014, as well as year-over-year net income gains and total revenue increases. But perhaps a more telling note was spoken by the company’s chairman, chief executive officer and president, Mike […] [Read More]

One figure appeared four different times when Lithia Motors reported the highest first-quarter adjusted net income in company history on Wednesday. Lithia enjoyed 11-percent increases in four major performance categories, including: — Used-vehicle retail same-store sales — New-vehicle same-store sales —Total same-store sales —Service, body and parts same-store sales The Q1 performance of those four […] [Read More]

The strength in wholesale pricing is still evident, but a “tired tax season” may be emerging along with buyers who feel that prices are due to come down. That’s what the Black Book editorial team observed last week in the auction lanes and reported in the latest Black Book Market Insights report.  Overall movement in […] [Read More]

With Earth Day being commemorated on Wednesday, both Edmunds.com and Experian Automotive uncovered a wide array of trends associated with hybrid and electric vehicles — with much of the analysis showing the lack of appeal for these units as well as diminishing financing opportunities if the consumer even purchased one of these models. Edmunds determined […] [Read More]

Cars.com announced Tuesday that it has rolled out a new Service & Repair feature that aims to guide consumers through this process of vehicle ownership. The online feature is designed to help “remove the stress and fear of the unknown associated with automotive service and repair,” Cars.com said in a news release. The tool’s features […] [Read More]

In a contest that organizers said was “as close as it’s ever been,” the title of world champion auto auctioneer now belongs to Bobby Ehlert of Phoenix. Manheim Nevada hosted the 2015 World Auto Auctioneers Championship held Friday in Las Vegas. Ehlert managed to hold off New Hampshire’s Michael Chambers and Indiana’s TJ Freije in the […] [Read More]

One of the fundamental issues dealers have with buying vehicles online is the inability to lay hands on the vehicle and get a true feeling for its condition. Manheim’s Enhanced Vehicle Imaging product aims at curbing such issues. Made in partnership with fellow Cox Automotive company HomeNet, Manheim provides several packages of vehicle image portfolios to […] [Read More]

Fitch Ratings found another place where heightened competition amongst auto finance companies is leaving an impact. The firm’s latest report indicated U.S. prime auto ABS collateral has been marginally weakening in recent months due in part to that competition. Analysts explained that since 2011, credit quality of the underlying pools has declined marginally, but remains […] [Read More]