Pelican Auto Finance is using what executives describe as a “crawl-walk-run approach” to growth in the deep subprime auto financing world. And they want to start running to the point where the company’s portfolio ranks among the top five institutions nationwide, blending together a business strategy of being an indirect lender for franchised and independent […] [Read More]

Lexus has set up shop at the Montreal-Trudeau airport. Instead of a cab, why not take a Lexus? Travelers returning home over the next few months and interested in purchasing a luxury vehicle might want to stop by the Lexus Lounge — where they can arrange a test-drive home. In an unusual marketing effort, travelers […] [Read More]

Mercedes-Benz Winnipeg is getting a facelift, as  store management and company leaders broke ground this week for a new location for the well-established dealership. Tim Reuss, president and chief executive officer of Mercedes-Benz Canada, together with company executives, recently joined Winnipeg Acting Deputy Mayor, His Worship Grant Nordman; City Councillor Paula Havixbeck; and Mercedes-Benz Winnipeg […] [Read More]

Now, Co-Auto dealership members have a few new options when selling service plans to customers. This week, reconditioning company Dent Wizard International announced a new partnership with Co-Auto — a cooperative buying group dedicated exclusively to servicing new car and truck dealerships throughout Canada.  Under the agreement, Co-Auto dealership-members will be able to sell Ding […] [Read More]

The certified pre-owned market opened 2014 with the highest first-quarter share of franchised dealers’ used-car sales in five years. That’s according to the latest Used Market Quarterly Report from Edmunds.com, which said CPO vehicles accounted for 19.7 percent of all used sales by franchised dealers in Q1.  The last time the certified market made up […] [Read More]

SiriusXM is continuing its expansion into the pre-owned arena with its new partnership with Nowcom — the company behind DealerCenter dealer management products. Through the new partnership, the SiriusXM Pre-Owned Program will be integrated into the DealerCenter system, which helps dealers manage their customers and leads, sales, inventory, financing, websites and online marketing.  “DealerCenter’s integration […] [Read More]

Billed as a “true partnership in every sense of the word,” software-as-a-service relationship management solution provider DealerSocket entered into a strategic investment relationship on Tuesday with Vista Equity Partners, a private equity firm with more than $12 billion in committed capital focused on investments in software and technology-enabled services companies. DealerSocket recapped that it has […] [Read More]

Shoppers have another option when trying to nail down the best rate for a new car as well as gauge their new vehicle's affordability based on income. The initial release of the monthly U.S. Auto Buyer’s Affordability Index (ABAI) from Requisite Press LLC gives shoppers and dealers a point of reference when researching new-car gauging affordability. […] [Read More]

While ensuring driver safety still is the biggest priority of fleet managers, they’re also quite interested in having a sound plan to remarket vehicles, according to a survey conducted at the 2014 NAFA Institute and Expo by GE Capital Fleet Services. After safety, 27 percent of survey participants pointed to enhancing productivity. The two biggest […] [Read More]

Preferred Warranties Inc., provider of vehicle service contracts for pre-owned vehicles, has named a new sales manager for the company’s Mid-Atlantic Region.   Steve Chapman will oversee the sales activities of seven consultants, as well as business development for PWI’s territory, which includes Pennsylvania, Delaware, West Virginia and parts of Maryland and Virginia. “Steve’s proven […] [Read More]