AutoCanada announced its second-quarter results late last week, showcasing a same-store used-vehicle retail revenue increase of 9.9 percent. The group also made their largest acquisition to date by acquiring the Hyatt Group of Dealerships in Calgary while also adding their first BMW and Mini dealerships by securing BMW Canbec and Mini Mont Royal. AutoCanada was […] [Read More]

No one has ever asked our firm to “find someone average.” Employers are always seeking high-performing employees. The best indicator of future performance is past performance. To help identify the high performers we like to ask “intelligent interviewing questions” to help determine a candidate’s past job performance and ability to thrive with our client. Coupled […] [Read More]

Intersection Technologies’ F&I Express recently added American Guardian Warranty Services (AGWS) to its aftermarket e-contracting platform. Executives highlighted the enhanced F&I Express functionality is free to all AGWS agents and dealers. AGWS is a provider of administration services for dealers and marketers offering vehicle service agreements, limited warranties and a variety of environmental and aftermarket […] [Read More]

The next time subprime consumers show up at your dealership or their loan application arrives at your finance company’s underwriting department, their FICO score might be higher if much of what triggered their soft credit profile is delinquent medical debt. FICO recently announced that the new FICO Score 9 introduces a more nuanced way to […] [Read More]

TrueCar Inc. announced recently the best month of the year for consumers to purchase a new vehicle. Despite the common belief that December is the best month to purchase new, the best month, based on average prices over the last five years, is August, with an average total new-vehicle price of $29,296, $169 lower than […] [Read More]

KAR Auction Services already shelled out $30 million to acquire a 50-percent stake in online vehicle remarketing system, TradeRev. And investment analysts wondered if KAR is ready to bring out the company checkbook or credit card again to buy the remainder of Toronto-based wholesale solution firm or another company outside of its current portfolio of […] [Read More]

Halfway through 2014, year-to-date auction volume was up nearly 4 percent against comparable weeks of 2013, according to the National Auto Auction Association. In its latest Economic Dashboard, which is prepared by NAAA economist Ira Silver, the association indicates that auction volume in June was up 3.9 percent year-over-year (for comparable weeks), and through the […] [Read More]

Credit Acceptance Corp. recently reported more than just its second-quarter performance. The company also received a civil investigative demand from the Federal Trade Commission. As a part of its Q2 financial reporting to the Securities and Exchange Commission, Credit Acceptance said in its filing that the CID came from the FTC on June 6 relating […] [Read More]

The Association of Finance & Insurance Professionals (AFIP) is offering Industry Summit attendees a $100 discount if they register for its pre-summit certification boot camp. In order to obtain the discount, dealer managers and F&I professionals must complete the registration by Aug. 15. AFIP highlighted that its two-day intensive training session is slated for Sept. […] [Read More]

While advocacy groups and federal regulators continue to be skeptical of the convenience and value dealers present at the F&I office, new data from Edmunds.com is showing the volume of work completed in that store department is climbing to levels never previously seen. Edmunds.com determined only about 23 percent of buyers in July completed a […] [Read More]