A combination of factors prompted research firm IBISWorld to report that revenue for repossession agencies is projected to increase during the next five years. IBISWorld analyst Maksim Soshkin explained what is sparking that forecasted revenue rise through 2019 includes increasing per capital disposable income levels and declining unemployment predicted to create more consumer spending. As […] [Read More]

Carfax is ramping up their presence in Canada, with a redesigned vehicle history report for Canadian dealers as well as a subscription-based offering. Now, Canadian dealers can enjoy similar benefits to those U.S. dealers have been enjoying since 2011, through the Carfax Advantage Dealer Program. This news comes after the company hired Jon Arnett as […] [Read More]

Although the average age of a vehicle on the road today is steady from a year ago and appears to have reached a “plateau,” the number of vehicles out there has hit an all-time, according to IHS Automotive. And in what’s potentially good news for dealers and their certified pre-owned operations, IHS is forecasting strong […] [Read More]

Two of the three domestic automakers made vehicle recalls last week, totaling about 120,000 units, most of which were included in four actions taken by General Motors. GM added to its extensive list of campaigns by announcing three safety recalls and one non-compliance recall; all of which the automaker said were reported to the National […] [Read More]

Manheim Riverside has received recognition from the City of Riverside, Calif., for its philanthropic efforts on behalf of community nonprofits, including teen crisis center Operation Safehouse. Also among its recent community efforts was participating in a fundraiser with Make-A-Wish, joining two other Manheim locations in California. More than 80 employees from three Manheim operating locations […] [Read More]

After falling 0.4 percent last month, auction prices were still on the way down during the first week of June. According to Black Book data, the car segments saw prices fall by $57 last week, larger than the $44 decline seen the week prior. This is compared to a $33 slide for cars during the […] [Read More]

Fitch Ratings determined delinquencies on prime U.S. auto loan ABS reached another record low in April, with the subprime sector posting a strong improvement, too. Analysts indicated the movements mean that asset performance is positioned for a strong summer. According to the latest monthly results from Fitch, auto loan ABS losses and delinquencies declined in […] [Read More]

Disparate impact theory is difficult even for the most seasoned legal experts to explain, so the American Financial Services Association is seeking to make sure the use of this tactic is prudent. AFSA and several financial services trade associations recently sent a letter asking all members of the U.S. House of Representatives to support Rep. […] [Read More]

The Manheim Used Vehicle Value Index dipped ever so slightly on a sequential basis in May. But if dealers remember what they paid for inventory during the same month last year, they’ll notice that more funds came out of floor plan this past month. Manheim determined wholesale used vehicle prices (on a mix-, mileage- and […] [Read More]

It has only been a matter of weeks since Asbury Automotive Group opened its first Q auto store. So, in speaking to the crowd at the Stephens Spring Investment Conference in New York this month, the retailer made it clear that it is a bit early in the game to get any real measurable feel […] [Read More]