TrueCar Inc. announced recently the best month of the year for consumers to purchase a new vehicle. Despite the common belief that December is the best month to purchase new, the best month, based on average prices over the last five years, is August, with an average total new-vehicle price of $29,296, $169 lower than […] [Read More]

KAR Auction Services already shelled out $30 million to acquire a 50-percent stake in online vehicle remarketing system, TradeRev. And investment analysts wondered if KAR is ready to bring out the company checkbook or credit card again to buy the remainder of Toronto-based wholesale solution firm or another company outside of its current portfolio of […] [Read More]

Halfway through 2014, year-to-date auction volume was up nearly 4 percent against comparable weeks of 2013, according to the National Auto Auction Association. In its latest Economic Dashboard, which is prepared by NAAA economist Ira Silver, the association indicates that auction volume in June was up 3.9 percent year-over-year (for comparable weeks), and through the […] [Read More]

Credit Acceptance Corp. recently reported more than just its second-quarter performance. The company also received a civil investigative demand from the Federal Trade Commission. As a part of its Q2 financial reporting to the Securities and Exchange Commission, Credit Acceptance said in its filing that the CID came from the FTC on June 6 relating […] [Read More]

The Association of Finance & Insurance Professionals (AFIP) is offering Industry Summit attendees a $100 discount if they register for its pre-summit certification boot camp. In order to obtain the discount, dealer managers and F&I professionals must complete the registration by Aug. 15. AFIP highlighted that its two-day intensive training session is slated for Sept. […] [Read More]

While advocacy groups and federal regulators continue to be skeptical of the convenience and value dealers present at the F&I office, new data from Edmunds.com is showing the volume of work completed in that store department is climbing to levels never previously seen. Edmunds.com determined only about 23 percent of buyers in July completed a […] [Read More]

Hyundai Motor America announced recently that it has resolved a situation with the National Highway Traffic Safety Administration regarding the 2013 recall of certain Genesis sedans with brake fluid issues. NHTSA inquired about the recall, which affected approximately 43,500 Genesis sedans in the 2009-2012 model range, regarding the timeliness of reporting the issue. The company […] [Read More]

CarMax has chosen a new chief marketing officer and senior vice president, hiring Jim Lyski for the job, whose accolades include promoting The Scotts Miracle-Gro brand. The move is effective immediately, and Lyski now will be responsible for directing and managing all of the company’s marketing functions, including consumer insights and strategic direction, brand, creative, digital, […] [Read More]

Wholesale price drops steepened in July, falling by over 1 percent as we head toward fall. According to Black Book data, used-vehicle prices for model-years 2009 through 2013 depreciated by 1.5 percent in July. In comparison, prices in June fell by 1 percent on a monthly basis, according to Black Book. And each of the 24 […] [Read More]

As July CPO sales results come in, one luxury European automaker and a program launched in 2012 led the pack, with sales soaring year-over-year. Both Volkswagen Canada and Mazda Canada have seen strong certified sales every month this year and continued that growth last month. First up, VW Canada sold 1,440 certified units, up from 1,291 […] [Read More]