The increasing digitization of the auto sales industry has changed more than just the screens and mediums shoppers’ use to research their next vehicle purchase. In the recently released Earnst & Young Future of Automotive Retail report, the company contends we are in the midst of an overall automotive retail paradigm shift. EY broke the […] [Read More]

Used vehicle deprecation in May accelerated at a quick pace after tax season came to a close, but price drops in the lanes are expected to slow this month. Last month saw depreciation ramp up to the fastest rate seen in more than six months. That’s according to the latest edition of Guidelines from NADA […] [Read More]

The first several months of 2015 have brought fears and concerns that the automotive lending market faces another subprime bubble like we saw back in 2008.  In reality, based on what we have seen at Dealertrack, the credit picture is good for the American consumer, and there is no subprime lending bubble in automotive retail […] [Read More]

Nationwide recovery management services provider Millennium Capital and Recovery Corp. recently hired Alison Kinnear as general counsel and chief compliance officer. Millennium indicated Kinnear will lead the company’s in-house legal and compliance activities. President Jayne Bronchetti highlighted the addition of Kinnear will further serve to strengthen the Millennium’s compliance monitoring and training program for its […] [Read More]

In an effort to give finance managers more options to present to vehicle buyers, Inilex recently announced that its SkyLINK theft-recovery system has been selected by Reynolds and Reynolds as part of the Reynolds Certified Interface (RCI) Program. The provider of telemetry solutions for vehicles explained this certification means that SkyLINK can seamlessly interface and securely […] [Read More]

Cox Automotive added to its industry portfolio this morning, announcing that it will acquire Dealertrack Technologies in an all-cash transaction valued at $4 billion, or $63.25 per share. Officials indicated the acquisition is subject to a minimum tender of at least a majority of the outstanding Dealertrack common shares and customary closing conditions, and is expected […] [Read More]

Dealers who use PBS Systems’ dealer management system software now have a new tool to reach customers in the service department. PBS Systems Inc. recently announced a partnership with Xtime, a customer retention solution for dealerships. Now, dealers using the PBS DMS  will have access to a “bidirectional data exchange” with the Xtime Retention System, […] [Read More]

There has been a change at the top when it comes to the add-on features that CarMax’s used-car buyers most often purchase. The best-selling add-on for these used-car buyers is now leather interior, according to CarMax sales data analyzed in the company’s 2015 Used Car Shopping Report. Remote start technology was the most popular add-on […] [Read More]

With customers shopping online more and more, most dealers are already very familiar with the term multi-channel, as the ways shoppers search for cars online are increasing daily, as well as the devices they use. But a new report from Ernst & Young takes it a step further. The company’s Future of Automotive Retail report […] [Read More]

Greg Penske, chairman and chief executive officer of Penske Motor Group (PMG) has been named as one of the highest-rated CEOs among small and medium companies by Glassdoor, a jobs and careers marketplace, which released its annual report recognizing this year’s top leaders in companies throughout North America and Europe. Officials explained that CEO approval […] [Read More]