AutoCanada hosted its quarterly conference call on Friday, outlining its financial results for the fourth quarter and full year of 2014. The group saw some of its largest year-over-year increases in a couple of its used-vehicle sectors: used-vehicle sales and parts, service and collision repair. For the fourth quarter alone, AutoCanada's same-store used vehicle retail […] [Read More]

The industry continues to be on a path toward $1 trillion in outstanding receivables and climbing contracts terms as new data from J.D. Power and LMC Automotive has the combination of strong sales and high transaction prices positioning March to set a new record for consumer spending on new vehicles. With spending poised to set […] [Read More]

In a move firm leaders hail as one that will significantly benefit dealers, Spencer Capital Holdings recently acquired SouthWest Dealer Services, an independent full-service provider of F&I products and services to dealers in the United States. SWDS has more than 250 employees that currently serve over 550 active dealers across 14 states in the Southwest […] [Read More]

PaymentVision, a provider of PCI-compliant electronic payment processing services, will host a free webinar designed to help managers of compliance, accounts receivables and operations professionals learn about convenience fees. The webinar titled, “Introduction to Convenience Fees” will take place on Wednesday from 2:30 to 3:30 p.m. EDT. PaymentVision general counsel and chief compliance officer Laurie Nelson […] [Read More]

Joining several others announcing annual awards in March, General Motors has recognized ADESA Minneapolis as its 2014 Auction of the Year. The auction — a first-time winner of this award — was chosen out of the 34 GM Sponsored Auctions throughout the U.S. and is recognized for “its unwavering commitment to providing customers with the […] [Read More]

AutoNation announced this week the reopening of several luxury dealerships. This included two Porsche dealerships — Porsche Plano and Porsche Bellevue — as well as Audi Plano and Lexus of Cerritos. The first to reopen this past week on Tuesday, Audi Plano, features a redesigned facility with over 60,000 square feet of space. It also […] [Read More]

On Friday, Nissan announced a donation of $250,000 to six Historically Black Colleges and Universities (HBCU) in Mississippi to promote STEM initiatives at each school to inspire and develop talent. U.S. Rep. Bennie Thompson, a Mississippi Democrat, along with Nissan executives presented the funds to representatives from Alcorn State University, Coahoma Community College, Jackson State […] [Read More]

The National Highway Traffic Safety Administration announced this week its receipt of an expanded air bag recall for certain Honda vehicles. Added to the previous recall, notated as 14V-351, are vehicles as follows: certain 2001 Honda Accord, certain 2004 Honda Civic, and certain 2008 Honda Pilot vehicles. The potential issue with these vehicles, the same […] [Read More]

Generation Y, also referred to as millennials, are becoming more influential in the automotive space as their purchasing power increases and they become more of an integral demographic in the car-buying population. And, clearly, their shopping and buying habits will shape the future of the retail auto business. With that in mind, a recent post […] [Read More]

The trust factor and peace-of-mind are major parts of the foundation of the certified pre-owned business, but they’re also big selling points for why CPO may be ideal for many consumers. Couple that with the growing importance of transparency and consumer reviews — particularly in today’s increasingly digital auto shopping environment — and it’s clear […] [Read More]