The auto loan default rate reading that’s part of the S&P/Experian Consumer Credit Default Indices climbed in September, marking the fourth time in the past five months it has ticked up slightly on a sequential basis. But analysts also pointed out that September’s reading is just 9 basis points higher than the all-time low registered […] [Read More]

It was announced this afternoon that Mitch Golub, president of Cars.com, is retiring from the company after nearly two decades with the vehicle-listing website. Dan Jauernig, chief executive officer of Cars.com, will also assume the role of president. Jauernig is a veteran of Classified Ventures, LLC., the former ownership company of Cars.com. This past August, Auto […] [Read More]

Michigan Republican governor Rick Snyder signed legislation Tuesday officially banning Tesla Motors and any other carmaker from selling directly to car-buyers in the state, but this past weekend,Tesla chief executive officer Elon Musk hinted his position on direct sales is not set in stone. Last Saturday, Musk sat down with John McElroy, the host of […] [Read More]

When asked how Hyundai of New Port Richey has managed to lead the pack for certified pre-owned sales, store owner Scott Fink boils it down to two key factors. First, he said, the dealership’s strong new-car sales enables it to take in more trades. And Fink said the store targets late-model Hyundai vehicles. “We’re forever […] [Read More]

The National Independent Automobile Dealers Association announced this week that it now approves 700Credit as a NIADA National Benefit Partner and credit data provider to its dealers. “We couldn’t be more proud to be selected by NIADA as a National Member Benefit partner,” Kenneth Hill, the managing director at 700Credit, said. “NIADA is leading its independent dealer […] [Read More]

The National Highway Traffic Safety Administration broadened its advisory to have vehicles with defective Takata airbags repaired as quickly as possible; a move cheered by a pair of Kelley Blue Book analysts. NHTSA first urged owners of more than 4.7 million vehicles to take action and then expanded it to more than 7.8 million units from […] [Read More]

Continuing its stream of acquisitions for the year, AutoCanada Inc. announced this week it has purchased Toronto Dodge Chrysler Ltd, which owns and operates a Chrysler Dodge Jeep Ram dealership located in Toronto. The dealer group received approval from Chrysler Canada to purchase the operating assets of Toronto Dodge, and the acquisition was expected to […] [Read More]

Certified pre-owned sales continue to soar, recently scoring the best quarter ever for the certified market.  And this growth in popularity cuts down on the challenges for dealers when it comes to conveying the value of the certified vehicle to customers. When CPO vehicles first hit the lot, dealers had quite a job convincing potential […] [Read More]

The Canadian Auction Express brand is expanding. Veteran auctioneer and entrepreneur Gord McComb and his son Jim McComb, vice president of operations and also an auctioneer, are opening a new auction designed to serve dealers. The new Canadian Auction Express is located at 43 Somers Drive in Moncton, New Brunswick’s Caledonia Industrial Park. Gord McComb […] [Read More]

Sales in Motion Showroom Selling Tools’ tablet-based sales application now has a new offering that can help salespeople cut down on the time it takes to close a deal as well as foster confidence in their customers. The company has added Carfax Vehicle History Reports to its app's capabilities. Now, dealers using the tablet-based application […] [Read More]