When it comes to the private retail industry — ranging from clothing and specialty foods to grocery stores and gas stations — used-car dealerships lead the pack for sales growth and profitability. That’s according to financial information company Sageworks, who reported sales growth and profitability among used-car dealerships is higher than for all privately held […] [Read More]

The National Auto Auction Association will hold its next round of Auction Standards Training about one month from now, as it will offer a course on vehicle grading (AutoGrade) at Manheim Dallas on Aug. 18 and Aug. 19. Day 1 will include a damage analysis overview, and Day 2 will include a structural damage overview. […] [Read More]

The Consumer Financial Protection Bureau recently clarified its regulatory position to ensure the agency is aligned with last year’s Supreme Court decision regarding same-sex marriages. The bureau recapped the court struck down Section 3 of the Defense of Marriage Act as unconstitutional last June. In order to fully implement this decision, the CFPB took steps […] [Read More]

In an attempt to increase consumer convenience and reduce payment processing costs, Southern Auto Finance Company (SAFCo) recently selected the UP Bill Payment Solution from ACI Worldwide. Now, SAFCo customers will be able to pay their vehicle loans electronically on a mobile device, computer or via phone with a debit card or ACH (Automated Clearing […] [Read More]

The American Bankers Association’s Consumer Credit Delinquency Bulletin showed mixed movements of consumers maintaining payments on their vehicle loans during the first quarter. Officials said that Q1 delinquencies associated with direct auto loans — financing arranged directly through a commercial bank — dipped year-over-year from 0.79 percent to 0.76 percent. Meanwhile, ABA found that delinquencies […] [Read More]

FordDirect announced late last week the promotion of three of its employees to senior vice president status. The three former vice presidents — James Casazza, John Gottschalk and Marianne Tappy — have been moved up to their senior-level positions after many collective years working in the automotive industry. Stacey Coopes, the chief executive officer of […] [Read More]

The leader of the pack among popular vehicles in Canada this year continued its winning streak as summer got underway. This past June, the Ford F-150 once again topped the charts as the most appraised vehicle in Canada, according to the TradeTracker Used Vehicle Market Report. The only month this year the pickup hasn’t held […] [Read More]

Leasing penetration rates rising to near-record highs at the same time that more and more people are turning to shorter lease terms isn’t something that Scot Hall finds to be a coincidence. In fact, the executive vice president of Swapalease.com said these movements may go hand-in-hand. “I think it actually has the same message on […] [Read More]

At the halfway mark for 2014, we’ve seen some interesting developments in the vehicle transport industry. Here’s a quick breakdown from both the haulaway (truck) and rail perspectives. Truck Driver Safety In industry language, a “haulaway” is a truck designed for the transportation of automobiles. As safety is of primary importance to transport providers, we […] [Read More]

The analysts at CarGurus announced last last week the list of U.S. cities with the highest and lowest used-car prices. An East/West trend emerged from the study, with the top-10 most affordable cities being near the East Coast, and the most expensive spread westward. Miami tops the list of most affordable cities to purchase a […] [Read More]