The Rainbow PUSH Coalition, the civil rights organization headed by the Reverend Jesse L. Jackson Sr., announced this week the organization’s annual automotive conference will be held in Detroit in October. The 15th Annual Rainbow PUSH Global Automotive Summit will take place on Oct. 13 at the MGM Grand Detroit Hotel, featuring “over 500 automotive executives, […] [Read More]

Subprime finance company Veros Credit has started its expansion strategy, making its first inroads in markets east of the Mississippi River in states such as North Carolina and Florida. Veros Credit now has marketing representatives in Raleigh and Durham, N.C., as well as Orlando, Fla., to go with new personnel in Dallas, Houston, Phoenix and […] [Read More]

As the company completed a property purchase to house more personnel, General Motors Financial said in a regulatory filing on Monday that the company has been subpoenaed by the U.S. Department of Justice. According to the paperwork posted with the Securities and Exchange Commission, Justice Department officials served GM Financial with a subpoena on July […] [Read More]

A new kind of subprime borrower is starting to influence the statistics gathered by Equifax. Jennifer Reid, the senior director of product marketing at Equifax Automotive Services, acknowledged that dealers and finance companies typically think of subprime consumers as ones with delinquencies, defaults and bankruptcies. But Reid pointed to the slight uptick in subprime vehicle […] [Read More]

Expanding used supply means lower pre-owned prices — but analysts say trends on the new-car side of the market will serve to push used rates down every further. Analysts at ALG and RVI both cited new-car sales as a factor that will lower used prices in the coming years. According to ALG, this trend has […] [Read More]

Hyundai Auto Canada Corp. has announced a new Signature Certification Program for dealerships in an effort to ramp up the traditional sales and service processes in Hyundai stores across the nation. The company shared the new program is aimed at differentiating certified dealers from the competition. First introduced by Hyundai Auto Canada's president and chief […] [Read More]

As used-car supply continues to increase, consequently, used-car prices are slumping. The seasonal summer slowdown continues to push prices down, and RVI Group reported late last week it expects used prices to drop by 10 percent by 2019. When describing last week’s auction price movement, Black Book’s Ricky Beggs said the only difference from previous weeks […] [Read More]

The potential risk to used-car values from increases in off-lease volume and lease penetration rates is something that Alec Gutierrez is keeping a close watch on. The KBB senior analyst doesn’t see much of a dust-up yet, but there could be potential for gradual “downward pressure” on used values a couple years down the road. However, […] [Read More]

ADP Dealer Services recently launched what the technology solutions provider is calling its new Service Connect Community. The company said that this online forum is designed for dealer clients to share knowledge and information about software and services. Community members can post questions, get answers and provide insight to their peers directly from their ADP […] [Read More]

As the digital age continues to develop, dealers have had to adapt at an ever-quickening pace to satisfy a perpetually evolving consumer base. For used-car customers, Penske Automotive Group announced during their second quarter conference call on Wednesday that one of their main conduits for sales is via their website. Roger Penske, the group’s chairman […] [Read More]