AutoNation provided an early glimpse into its second-quarter results on Thursday, revealing that the retailer sold 86,794 new vehicles in Q2, a 7-percent increase compared to last year. Looking at the month of June, AutoNation saw a 9-percent increase year-over-year with a total of 27,862 new vehicles sold. On a same-store basis, the group’s new-vehicle […] [Read More]

How much F&I income dealerships can generate might have sustained another impediment stemming from a published report that surfaced this week. SubPrime Auto Finance News connected with Ben Saul, who is a partner in Goodwin Procter’s consumer financial services litigation group in Washington, D.C., to discuss the implication of the captive finance companies for Honda, […] [Read More]

Prices were on the way down at the auctions in May — by 0.6 percent month-over-month, according to RVI — but one segment, in particular took a much bigger hit. According to RVI’s 2015 Q2 Risk Outlook Report, compact car prices suffered in the lanes in May, dropping by 9.6 percent year-over-year, while the market […] [Read More]

Though used prices were still on the way up in May as summer neared, according to RVI data, analysts are still predicting a slow downturn in auction prices — potentially causing some relief for dealers and buyers in the lanes — to begin shortly. According to RVI’s Q2 Risk Outlook, after adjusting for MSRP, used […] [Read More]

Scotiabank released its Global Auto Report this week, highlighting a record sales month in Canada for the month of May. Carlos Gomes, the senior economist and auto industry specialist at Scotiabank, summarized May’s achievement. “Sales in Canada set a record for the month of May, fueled by a 20 percent year-over-year surge in the purchases […] [Read More]

The first half of 2015 is now complete, and for most buy-here, pay-here dealers it has been extremely challenging. Competition from credit unions and franchised dealers, together with large subprime asset-backed auto finance securitizations, have reduced the market share of independent BHPH dealers. In addition, it has become more difficult for dealers to attract and […] [Read More]

Asbury Automotive Group announced Tuesday its expansion in the Florida market via its acquisition of Mike Davidson Ford in Jacksonville. The dealership, which generates approximately $90 million in revenues annually, will be rebranded as Coggin Ford to join the Coggin Honda and Nissan that Asbury owns in the nearby vicinity. The new addition brings Asbury's […] [Read More]

Leasing’s resurgence and market impact doesn’t look like it will end any time soon. Ironically, however, it appears to be making more noise in the truck market and among mainstream brands than their car and luxury counterparts.   Relatively speaking, of course. “Leasing’s influence on industry sales shows no sign of relenting; it made up […] [Read More]

It took just 35 days for J.D. Power to complete its acquisition of NADA Used Car Guide. Officials highlighted on Wednesday the acquisition first announced on May 28 culminates an investment to bring together the advanced analytics of new- and used-vehicle retail sales and pricing data within the Power Information Network (PIN) from J.D. Power […] [Read More]

Reconditioning: for a dealership in the preowned space, it is arguably one of the more complex processes between the acquisition of a vehicle and its retail sale. Whom am I targeting with the sale of this vehicle? What needs to be fixed? What is worth fixing? These are all important questions — questions you may […] [Read More]