An assertion made by NADA in it’s recent Dealership Workforce Study late last year was just reaffirmed by analysts at CNW Research, as well: sales staff turnover remains a big issue for dealerships. That said, CNW’s latest Retail Automotive Summary offers a bit of a silver lining: though sales personnel turnover still “haunts” dealerships, the […] [Read More]

Edmunds.com is projecting that seasonally adjusted annual rate for new-vehicle sales this month will increase thanks to the favorable financing conditions that still are in place. Site analysts forecasted that 1,547,771 new cars and trucks will be sold in the U.S. in May for an estimated SAAR of 16.2 million. The projected sales will be […] [Read More]

Here are more numbers showing just how much of a bite regulatory compliance is taking out of franchised dealers’ profitability apple — especially for what it takes to legally operate the F&I office. A new report released by the Center for Automotive Research on Friday showed U.S. franchised dealers spent $3.2 billion in 2012 to […] [Read More]

When the final tally comes in for 2014, annual certified pre-owned sales are likely to have notched another all-time high, according to NADA Used Car Guide, which is forecasting “meaningful growth” in this blossoming market segment in coming years. These expected gains, detailed in the latest NADA Perspective report, are driven by the fact that […] [Read More]

The National Automotive Finance Association released the results of its revamped invitation-only member survey this week during its 18th annual Non-Prime Auto Financing Conference. While the survey asked the 22 participating finance companies to complete questions about originations, marketing and servicing, the results showed nearly all survey contributors agreed on one thing — how much […] [Read More]

The Federal Trade Commission said Thursday that Consumer Portfolio Services will pay more than $5.5 million to settle charges that the subprime auto finance company used “illegal tactics” to service and collect consumers’ loans, including collecting money consumers did not owe, harassing consumers and third parties, and disclosing debts to friends, family and employers. According […] [Read More]

In addition to forecasting a stronger used-car SAAR for May, Edmunds.com pointed out some other positive signs for the used market — or at least, for future supply of pre-owned vehicles — that have occurred this spring. The company said in a sales forecast released Thursday that year-to-date lease penetration through April was at an […] [Read More]

There were 8.2 million used cars sold at the National Auto Auction Association’s North American member locations in 2013, according to NAAA’s 17th annual survey, conducted by CliftonLarsonAllen LLP.  Sales of these vehicles were worth a grand total of $75.7 billion. The survey also found there were 15.2 million cars entering these auctions last year, […] [Read More]

Auction prices are falling at a consistent pace, as NADA Used Car Guide is predicting prices to drop by an average of $50 for the second consecutive week.   According to NADA UCG’s AuctionNet data, the expected $50 drop translates to a decline in price of 0.3 percent at auction. In fact, only two segments […] [Read More]

TradeRev and Apex Inspection Solutions have partnered for a deal that will provide vehicle inspection services to TradeRev buyers throughout Canada. This strategic partnership lets buyers on the online wholesale platform order accurate post-sale inspections directly from their desktop computers, helping to drive confidence among buyers, who can now ensure that every car they purchase […] [Read More]