GrooveCar Direct, an online auto buying resource for credit unions, recently reached partnership with two more institutions. The two credit unions now a part of the network are as follows: — Greater Alliance Federal Credit Union of Paramus, N.J., which has a membership of 18,525 with assets exceeding $163 million. — Dutch Point Credit Union […] [Read More]

Moody’s Analytics senior director Cristian deRitis chimed in this week, refuting the notion that rising auto lending volume is creating a bubble similar to the one that burst in the mortgage space and sent the U.S. economy into recession. deRitis insisted that credit quality is better today than prior to the recession, or at any […] [Read More]

Cross-Sell Reports — a division of Dominion Dealer Solutions — has a new offering for Georgia dealers. Cross-Sell Reports has partnered with the Georgia Automotive Dealers Association to provide localized market data through the company’s market-reports tool: Cross-Sell Interactive. Shane Marcum, general product manager for Cross-Sell Reports, noted, “Cross-Sell Interactive provides Georgia’s automobile dealers with […] [Read More]

Advertising the sale or financing of motor vehicles has become increasingly complicated with an aggressive Federal Trade Commission (FTC) and the need to reach consumers (especially Millennials) through social media, which was never thought of when advertising laws and regulations were written. It certainly makes a dealer’s life more complex. The FTC has launched a […] [Read More]

Add this year’s National Remarketing Conference to the list of major industry events where discussion about the impact created by the Consumer Financial Protection Bureau is on tap. Wait a minute. You might be thinking the hallmarks of the NRC are connected with wholesale channels — vehicles moving from commercial consignors such as automakers and […] [Read More]

As part of its long-term growth strategy to invest in emerging markets, Manheim announced Tuesday that it has purchased a majority stake in CarBizz, an auction operation based in Sao Paulo, Brazil. The company highlighted this investment in Brazil — what executives consider to have one of the fastest growing automotive markets — supports Manheim’s […] [Read More]

It’s not uncommon for conference attendees to make travel plans for their arrival and departure to be scheduled as close to the event’s start and finish as possible. Tony Long, executive director of the International Automotive Remarketers Alliance, suggests that executives and managers from auctions, consignors, finance companies and dealerships use a different approach for […] [Read More]

The key drivers to such strong growth in the new-car sales environment have more to with healthier economics than simply a carryover of pent-up demand — and one example of such a fortuitous sign has to do with leasing and lease returns. That’s according to prepared comments by Toyota executive Bob Carter at 2014 J.P. Morgan […] [Read More]

Car prices are on the way up, but there’s one problem. Income isn’t following the same path. Requisite Press LLC — after releasing its new Auto Buyer’s Affordability Index (ABAI) earlier this summer — recently reported car prices have outpaced incomes since the recession. The July 2014 ABAI reading of 53.5 indicates that median-income family […] [Read More]

Ninety percent of a successful used-car dealer’s time, money, energy and efforts typically go into the processes that take place before a customer ever contacts the dealership: buying, reconditioning, photography, etc. When I was in sales, many years ago, my first manager would always say, “Let’s go take our unfair share of the market!” At […] [Read More]