Last month, one of the U.S. senators from the Empire State urged the Federal Trade Commission to take action to create more regulations in connection with dealers selling vehicles with open recalls that haven’t yet been repaired. Then on Wednesday, the Department of Consumer Affairs in New York City launched an investigation of 200 dealerships […] [Read More]

For only the second time this year, a truck model has cracked the national top 10 list of hardest-to-find certified pre-owned vehicles. According to monthly scarcity data that AutoTrader.com provides to Auto Remarketing, the Ram 2500 was the fourth-scarcest CPO vehicle in the country during June. This marks the first time since January that a […] [Read More]

The National Highway Traffic Safety Administration said Hyundai is recalling 883,000 Sonatas from the 2011 through 2014 model years because of a transmission issue. NHTSA determined the shift cable may detach from the shift lever pin in the affected vehicles manufactured between Dec. 11, 2009 and May 29. “If the transmission shift cable detaches while […] [Read More]

AFS Acceptance continued to add to its management stable this week by appointing a former driversselect executive as vice president of loan production. Taking on the role effective Monday is Michael Thacker. AFS Acceptance indicated Thacker will preside over all operations for the underwriting, funding and dealer services departments within the company. “Mike’s comprehensive understanding […] [Read More]

Dealertrack Technologies reached a partnership on Wednesday with Element Payment Services, a Vantiv company, to seamlessly integrate electronic payment processing into Dealertrack DMS 2.0. With Element’s fully integrated payment technology within Dealertrack DMS 2.0, officials highlighted that all types of dealership business — including parts and service billing, vehicle deposits, full or partial payments and […] [Read More]

In a quarter company executives said contained a “leveling of competitive intensity,” the AmeriCredit-branded business generated by General Motors Financial during the second quarter jumped to a higher level than in any quarter seen in a year. AmeriCredit, which originates loans at non-GM dealerships, posted $855 million in paper during Q2, an amount $106 million […] [Read More]

Black Book explained how its depreciation forecast of 13.5 percent for 2014 is still on track, even though the market produced a pace much slower than that expectation during the first six months of the year. Senior vice president and editorial director Ricky Beggs pegged the depreciation rate of late-model used vehicles during the opening […] [Read More]

DealerMatch announced this week the release of a new interface for MatchPro. The program, which was launched in January, is a self-learning, personalized recommendation engine geared for dealers which helps purchase vehicles from other dealers. With the new interface, dealers can now access MatchPro directly. Paul Sims, the co-founder and customer strategy officer for DealerMatch, […] [Read More]

Ricky Beggs and Jared Kalfus travel throughout the U.S. as part of their job duties at Black Book, meeting with executives from auctions, automakers and finance companies. During recent business trips, both Beggs and Kalfus noticed unusual circumstances when it came time to secure a rental car. The Black Book executives said the long lines […] [Read More]

Ford Credit’s lease return volume this year has already eclipsed the 100,000-unit mark, with the second-quarter tally showing a substantial year-over-increase. That’s according to statistics from Ford Motor Co.’s Q2 fixed income conference call that Manheim chief economist Tom Webb posted to his blog late last week. The data sets put Ford Credit’s quarterly lease […] [Read More]