The industry began seeing signs of an expected significant increase in off-lease supply as 2014 wrapped up with a modest drop in wholesale prices. According to ADESA Analytical Services, wholesale prices dropped 0.3 percent from November versus last month to rest at an average of $9,844. This is still up 2 percent year-over-year, but recent […] [Read More]

The availability of financing coupled with family budget influencers such as softening gas prices prompted Manheim chief economist Tom Webb to say the following about the auto finance landscape — especially in relation to the subprime segment: “It doesn’t get any better than it is right now.” Webb made that assessment because delinquency rates haven’t […] [Read More]

Digital Recognition Network (DRN) and Shaw Systems Associates announced on Monday that Shaw will be embedding DRN’s location data and scoring analytics into its collections software platform. Officials highlighted DRN’s data and analytics will allow Shaw to address collections issues earlier in the workflow and improve collections outcomes. “By embedding DRN’s data and scoring into […] [Read More]

Along with revamping its tire-and-wheel coverage plan, F&I program provider RoadVantage recently unveiled a Web-based compliance management system (CMS) that can help dealers ensure their practices are compliant with standards set by the Consumer Financial Protection Bureau. RoadVantage explained that according to the CFPB, elements of an effective compliance program include written policies and procedures, […] [Read More]

Automotive Compliance Consultants contends dealerships run the same risks as do national merchandisers such as Target and Home Depot that have been struck by hackers in recent months. Because cybercrimes are on the increase, Automotive Compliance Consultants and cyber-security partner Nuspire Networks will discuss dealership security with managers at the National Automobile Dealers Association Convention […] [Read More]

December closed out a year that spelled growth for many automaker certified pre-owned programs in Canada. Throughout the year, European automakers saw certified sales soar, and December’s results were no surprise in this respect. For example, Audi Canada sold 428 certified vehicles, up an impressive 62.1 percent over the 264 units sold in December of 2013. […] [Read More]

Better than four out of five drivers are willing to consider getting a used-vehicle lease that was 3 years old, according to a study released by Swapalease.com. Specifically, Swapalease conducted an online survey of 2,500 drives in November and found that 82 percent are willing to at least mull over this option. Granted, there was […] [Read More]

The Holman Automotive Group announced this week that Steve Holman has joined the company as manager, community affairs. Formerly a member of the board of directors, Holman joins his sister, Mindy Holman, the company’s president and chief executive officer, and his father, Joseph Holman, the company’s chairman.  Steve Holman will help lead the organization’s various […] [Read More]

There’s a relatively new and growing player in the vehicle history and inspection space that offers details on prior repairs and existing damage a vehicle’s exterior body, while also verifying structural soundness of the car. TrueFrame — which launched in 2014 and is now available in nearly 20 markets, with more to come this year — works with Carfax and AutoCheck, […] [Read More]

FLD Inc. announced recently the release of an update to its free condition reporting smartphone app, OnceOVR. The extension, OnceOVR Pro, includes multiple inspection templates for medium- and heavy-duty trucks, which gives users the ability to select critical data points from an index containing more than 3,000 configurations of engines, transmissions and gear reductions, according […] [Read More]