ADP Dealer Services announced the new company name for its dealer services’ operation on Tuesday. Once the spinoff from ADP is completed, the company will be known as CDK Global and will be listed on the NASDAQ exchange under the symbol “CDK.” CDK Global will be one of the largest technology providers to the automotive […] [Read More]

Group 1 Automotive has announced the acquisition of a Mercedes-Benz dealership in Boerne, Texas, which will operate as Mercedez-Benz of Boerne. The dealership, which also includes a Mercedes-Benz Sprinter commercial vehicle franchise, is expected to generate an estimated revenue of $135 million annually. “We are delighted to strengthen our relationship with Mercedes-Benz and further expand our […] [Read More]

In light of more than 37 million vehicles being recalled so far this year, the team at Black Book Lender Solutions went to work considering the impact these campaigns are having on the auto finance industry. Analysts acknowledged the psychology of a vehicle recall — particularly one garnering national headlines — has the propensity to […] [Read More]

The National Insurance Crime Bureau announced its Hot Wheels report this week, the bureau’s annual release of the ten most stolen vehicles in the United States. The list features a perfect split between import and domestic automakers, with Honda’s Accord and Civic topping the list. Full-size pickups made up a considerable chunk of the list, […] [Read More]

When Ricky Beggs analyzed the various movements in wholesale prices from last week, there were two trends that jumped out. There weren’t as many value adjustments, he said, and the declines in price were not as pronounced. In fact, the number of adjustments hit a five-week low, Beggs pointed out, though most of the changes […] [Read More]

Flick Fusion announced this week its video marketing platform for dealers, offering what it contends is the first of such platforms to automate the video production process, including inventory videos, video emails and other various dealer-related videos. Brian Cox, the president and chief executive officer of Flick Fusion, says his company offers to dealers the […] [Read More]

Although spending is up slightly, automakers are still being very judicious with incentives  — “pinpointed,” as AutoTrader.com senior analyst Michelle Krebs put it. So, when it comes to aftermath in the used-car market, there just really hasn’t been any ill effects. At least not yet. That was the take of Kelley Blue Book senior analyst Alec […] [Read More]

Rick Hackett shared eight specific steps buy-here, pay-here dealers can take to stay off of the radar of government regulators. Hackett acknowledged no surefire way exists for operators to protect themselves completely from a regulator who can decide what a reasonable price is. But the former Consumer Financial Protection Bureau assistant director and current partner […] [Read More]

The American Financial Services Association responded to a petition asking that the Federal Communications Commission rule that finance companies are not liable when they call a wireless number for which they have prior express consent to call or text, but which has been reassigned to a different subscriber. AFSA made the plea in an effort […] [Read More]

Nicholas Financial originated more subprime contracts during the first quarter of its fiscal year, but its net earnings softened by double digits. The number of contracts the company booked during the quarter came in at 4,244 for a total loan amount worth $46,769,602. The average loan in Q1 stood at $11,020 with terms stretching to […] [Read More]