The financial underpinnings for the private equity firm investment in America’s Auto Auction and affiliated company, Auction Credit Enterprises, received a boost on Monday. Babson Capital Management, a leading global asset management firm with more than $217 billion in assets under management, purchased equity interests to support Trinity Hunt Partners' acquisition of AAA and ACE. […] [Read More]

Just before the Fourth of July holiday began, Santander Consumer USA Holdings made a series of leadership changes, including the appointment of Jason Kulas as chief executive officer to succeed Thomas Dundon, the finance company’s founder who will continue to serve as a member of the SCUSA board of directors and as a senior advisor. […] [Read More]

The Federal Trade Commission recently reported two franchised dealers in Las Vegas agreed to settle charges that they used deceptive ads to promote the sale or leasing of their vehicles, including advertising heavily discounted prices that were not generally available to consumers. According to the complaints, TC Dealership, doing business as Planet Hyundai, and JS […] [Read More]

GWC Warranty, a provider of vehicle service contracts and related finance and insurance products sold through dealers, recently unveiled the new GWC Warranty Dealer App for iPads that’s now available in the Apple App Store. The company highlighted the GWC App features: — Educational video library — Interactive coverage selection tool — Real-time, reactive virtual […] [Read More]

Edmunds.com has opened up dealer registration today for a used-car sales program known as Used+ that is designed to not only connect dealers with in-market used shoppers, but also close deals quicker with more peace-of-mind for the consumer. All of  this is happening amid an environment in which the leasing boom will likely keep adding […] [Read More]

Sales of certified pre-owned vehicles in June surged 17.6 percent higher year-over-year, pushing the industry to another record-setting quarter. Autodata Corp. reported late on Thursday that June CPO sales came in at 212,957 units. That figure propelled the second-quarter amount to 660,384 vehicles. The quarterly total represented a 13.5-percent gain year-over-year as well as a […] [Read More]

You’re already working hard: You carefully monitor your three main inventories — new cars, used cars and car parts — to bring down overhead costs and maximize profit. You know what you spend on these tangible assets, and you work to turn a profit on those deals. But there’s a fourth inventory at your dealership, […] [Read More]

Here it is — the moment we know that you’ve been waiting for … we are excited to announce that registration is now officially open for the 2015 Used Car Week conferences! For those of you who are Type A planners, that means it’s time to register so that you can check off that to-do list item. Just click […] [Read More]

It appears as though Independence Day weekend is the ideal time to target the summer whims of convertible lovers. That’s according to an analysis from NADA Used Car Guide released Thursday, which highlighted a few manufacturer financing incentives that should prove particularly appealing to July 4 shoppers who enjoy the top-down side of life. “If horsepower […] [Read More]

Enterprise Holdings announced Thursday it has now hired more than 6,000 military veterans and reservists since it joined the 100,000 Jobs Mission coalition three years ago. Founded in 2011, the 100,000 Jobs Mission works to unite private companies that are committed to helping service members make the transition from military to civilian work life. Since […] [Read More]