Forty cyclists, supported by Cox Enterprises’ Arizona-based Ready Auto Transport, completed a 430-mile bike ride, the Ride 430 Challenge, and raised more than $430,000 for injured military service members and their families. As the lead sponsor, Ready Auto Transport helped cover expenses for the event, including hosting the opening ceremony, providing support for riders along […] [Read More]

With the launch of the company’s “No Surprises” initiative, TrueCar Certified Dealers must now share “upfront information” on any non-governmental fees in the transaction — like document fees — as well as the costs for any accessories they add on to the vehicle. These fees and costs must now go alongside the Guarantee Savings off […] [Read More]

Wrapping up what would be the weakest third quarter for used prices since 2002, wholesale prices softened once again last month. According to the September installation of ADESA chief economist’s Kontos Kommentary, this marked the fifth month in a row auction prices have fallen. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices […] [Read More]

This week, EFG Companies and the National Association of Minority Automobile Dealers established an annual, private donor scholarship that will fund the four-year tuition of a minority student attending the automotive marketing and management program at Northwood University.  Officials highlighted the annual scholarship, funded by EFG Companies, will be awarded each year to a freshman […] [Read More]

Exeter Finance Corp. announced this week the pricing of a $500 million securitization backed by auto loan receivables.  The company indicated the private offering consisted of four classes of fixed rate notes issued by Exeter Auto Receivables Trust 2014-3 and priced on Oct. 9. Exeter highlighted the Class A notes were rated AAA/AA by DBRS […] [Read More]

Consumer Portfolio Services posted gains of more than 20 percent in both earnings per diluted share and revenue during the third quarter. The finance company bought more paper in Q3 compared to previous time frames and watched delinquencies and charge-offs rise only marginally. As a result, CPS chairman and chief executive officer Brad Bradley said […] [Read More]

If your business uses Penske Truck Leasing to transport vehicles, you now utilize a company who is an Affiliate in the Canada SmartWay Transport Partnership. The SmartWay program, created by the United States Environmental Protection Agency, is administered by Natural Resources Canada. The program was launched back in 2004 to help businesses ramp up the […] [Read More]

Curbsiding — something you don’t have to worry about as a licensed dealer? Wrong. The Ontario Motor Vehicle Industry Council recently issued a bulletin that warns dealers against supplying curbsiders, because you may be held accountable. Take this situation for example: A London, Ontario, dealer was recently convicted of supplying vehicles to a curbsider. The […] [Read More]

Wholesale prices started falling at a more rapid pace in September, with all segments seeing prices decline except for two: luxury cars and midsize cars. The Manheim Canada September index was down last month, falling by almost three points from August’s reading of 92.6. The decline also marks a 1-percent drop from September 2013. Luxury […] [Read More]

Twitter: It ain’t just for hashtagging your favorite pumpkin-spice whatever or Grumpy Cat pictures.  That’s right, perhaps one of the most important uses of Twitter this fall, at least for folks in the used-car business, is the #DealerChat from your friends at Used Car Week. After a successful debut #DealerChat hosted by Equifax last week, […] [Read More]