This morning, Cox Enterprises announced the formation of Cox Automotive, an entity that includes more than 20 wholesale and retail auto brands — among them Manheim, AutoTrader.com and Kelley Blue Book. Forming Cox Automotive, officials said, “further strengthens the company’s investment in the automotive industry and provides end-to-end global solutions for customers throughout the vehicle lifecycle.” […] [Read More]

Who should be my Internet manager? This is one of the questions I field most often as I fly around the country, working with both rural and large metro dealers, alike. And my usual response? Someone who wants to be! But if that’s not the answer you were hoping for, it’s because the question itself […] [Read More]

Auction prices in Canada have remained mostly consistent in 2014 with slight fluctuation, but July told a bit of a different story, according to the ADESA Canada Used Vehicle Price Index. The index, powered by ALG, fell substantially after being adjusted for seasonality, the company reported, dropping by an average of 0.8 percent month-over-month. And […] [Read More]

Carfinco Financial Group Inc. announced its second quarter results last week with record results. The company highlighted a record $54 million in loan originations for the quarter, a 19.6 percent increase over last quarter and a year-over-year increase of 26.9 percent. Carfinco attributes the substantial increase in originations to the diversification of their financial product […] [Read More]

Is a sharp correction in used-vehicle prices imminent? The National Automobile Dealers Association expects used-vehicle prices will indeed start to fall — but gradually, not all at once. After the Great Recession, a sharp decrease in new-vehicle sales greatly reduced the supply of late-model used vehicles. At the same time, price-conscious consumers opted for more […] [Read More]

Coinciding with the National Highway Traffic Safety Administration rolling out its new recall database, NADA Used Car Guide discovered results of its automaker recall perception survey showed an overwhelming majority of consumers are paying more attention to recalls today than in the past. Based on an online survey conducted on NADAguides.com in response to the […] [Read More]

In a development the National Automobile Dealers Association said will help stores, the National Highway Traffic Safety Administration unveiled a new, free, online search tool both dealers and consumers can use to find out if a vehicle is directly impacted by a recall. Also becoming effective on Wednesday under new NHTSA mandate, all major light […] [Read More]

Dealerships from all over New Jersey have raised over $500,000 for The Valerie Fund. Currently 177 different dealerships have come together to collect donations for the fund, whose mission is to raise money to support the comprehensive healthcare of children with cancer and blood disorders. The campaign, titled New Jersey Auto Retailers Unite, began June […] [Read More]

The Consumer Financial Protection Bureau announced on Wednesday that Texas-based First Investors Financial Services Group entered into a consent order because the regulator said the subprime finance company distorted consumer credit records for years. CFPB officials said First Investors failed to fix known flaws in a computer system that was providing inaccurate information to credit […] [Read More]

For any NAAA-member auctions interested in participating in Auto Remarketing’s “Auction Life” feature — which is part of our annual National Auto Auction Association Convention Issue — the deadline to submit photos is one week away.  This special section of our NAAA Issue will include photos from auctions across the country, sharing bits of the day-to-day […] [Read More]