Re3 Conference co-presenting sponsor Primeritus Financial Services announced the dates for its second annual agent partner event. The forwarding company will hold the event at its new corporate office location in Nashville, Tenn., on Sept. 11 and  Sept. 12. Primeritus highlighted that more than 100 agent partners attended this event a year ago. “We are […] [Read More]

Go Auto Exchange — the joint auction venture between Manheim and DriveTime — is revving up its expansion plans with its fourth location set to open this week. Officials indicated the new location featuring inventory tailored for buy-here, pay-here dealerships is in Orlando, Fla., and opens on Thursday. Though sharing land with Manheim Orlando, the company […] [Read More]

Recently, I read about a study commissioned by True Car that I haven’t been able to stop thinking about. The study asked car buyers what they believed a fair profit margin for a car dealer would be on a $30,000 new car sale, and how much they actually believed a dealer profited on the same sale. […] [Read More]

Last week’s second quarter conference call with Penske Automotive Group resonated several commonalities with other public dealer groups in the country, primarily the continued search for qualified automotive technicians. The group’s chairman and chief executive officer, Roger Penske, noted that although his company is not as affected by recent recalls, with only 4 percent of their […] [Read More]

Sparked by actions of the Consumer Financial Protection Bureau, Automotive Compliance Consultants general counsel David Missimer — who specializes in dealership compliance issues — advised managers to take a close look at the arbitration clause language used in their finance contracts. Missimer insisted that dealers heed this advice, given the way he sees today’s courts […] [Read More]

The “new normal” finance company executives discussed at industry events earlier this year isn’t diminishing. Loan terms are lengthening, and transaction prices are climbing — especially for new vehicles. SubPrime Auto Finance News put the question to a trio of analysts asking them if the practice of financing vehicles with contracts stretching at least 60 […] [Read More]

Continuing a flurry of significant industry moves, KAR Auction Services announced Tuesday that its business unit ADESA has acquired a 50-percent stake in Toronto-based Nth Gen Software and its online vehicle remarketing system, TradeRev. KAR officials indicated the total purchase price for the transaction is approximately $30 million in cash. ADESA also announced that it […] [Read More]

The Ford Motor Co. will host its 2014 Ford Neighborhood Awards for the eighth consecutive time this weekend. For the first time in Atlanta, the ceremony, hosted by Steve Harvey, will continue its tradition of honoring local leaders and organizations for their contributions to their neighborhoods. For the second year, a $30,000 check will be given for the […] [Read More]

The Big 3 beat year-ago certified pre-owned sales by nearly 13 percent in July, and all continuous brands saw their numbers rise year-over-year, most by double-digit percentages. That’s according to Autodata Corp.’s preliminary data set sent on Tuesday, which indicated that domestics moved 69,231 CPO units in July. That was good for a 12.7-percent rise from […] [Read More]

The certified pre-owned programs among many import automakers fared well in July — European-brand CPO sales were up 20.6 percent year-over-year, and Asian brands climbed 3.6 percent, according to Autodata Corp. — but one particular trio of brands enjoyed their strongest months of all time. Autodata said in its preliminary set of data released Tuesday […] [Read More]