Fitch Ratings asserted that U.S. auto lease ABS will continue to perform within expectations, and ratings will be stable even though analysts understand that used-vehicle values will continue to decline moderately from their recent “untenable” highs. Fitch also projected that the robust loss protection in auto lease ABS (including continued realization of residual gains) will […] [Read More]

National Automobile Dealers Association members are gathering on Capitol Hill this week to urge Congressional lawmakers to pass bipartisan legislation that franchised dealers say would nullify the Consumer Financial Protection Bureau’s “flawed” guidance on auto lending. NADA explained H.R. 5403 — the Stutzman-Perlmutter Bill — also would require more transparency and accountability from the CFPB […] [Read More]

Lynnway Auto Auction named a new vice president of national account sales, and appointed to that position is a former leader at ARI and State Line Auto Auction, Jeff Bennett. “It is with great pleasure that we welcome Jeff Bennett to Lynnway Auto Auction,” said company president James Lamb.  “His many years of experience in the […] [Read More]

LotLinx, developers of platform aimed at connecting more than 6.5 million consumers who are searching vehicle inventory online every month directly to the dealership websites where that inventory resides, appointed a new vice president of product management on Tuesday. Taking on this role is former Dealix executive Dave Shefferman. LotLinx highlighted that Shefferman has nearly […] [Read More]

The more time someone spends on the Web during the car-shopping process, the more dealerships they are likely to visit. That’s according to the J.D. Power 2014 New Autoshopper Study released Tuesday, which examines the use of digital devices (computers, smartphones and tablets), websites and apps during the car-shopping and research process. On average, what J.D. […] [Read More]

The acquisition of dealerships nearly doubled in the first half of 2014 compared to the same period in 2013. That’s according to The Blue Sky Report from Kerrigan Advisors, along with research gathered from The Banks Report, which highlighted the 95 completed dealership transactions in the first half of 2014, a 75-percent increase over the […] [Read More]

Custom dealership mobile app platform provider Dealerbaby integrated with Auto/Mate’s dealership management system on Tuesday. Officials highlighted that users of Auto/Mate’s Open/Mate third-party integration system can now experience the benefits of a native mobile app without the high costs associated with custom mobile app development. Dealerbaby co-founder Padraic Doyle insisted dealerships can increase customer retention, […] [Read More]

General Motors spent much of the first half of the year handling crisis control over its massive amount of vehicle recalls, including the ignition switch problems in discontinued models. Now with autumn less than two weeks away, NADA Used Car Guide is finding only marginal impact left on the brand and its vehicles. Analysts explained […] [Read More]

Like their domestic counterparts, the majority of Asian and European brands are posting stronger certified pre-owned sales numbers — including several who just posted their respective best months ever for CPO. Overall, certified sales for Asian brands were fairly static year-over-year in August (down 0.4 percent at 102,154 units), according to numbers from Autodata Corp.; […] [Read More]

Big 3 brands increased their certified pre-owned sales by nearly 20 percent in August and pushed their year-to-date sales above half-a-million units. According to Autodata Corp., domestics sold 77,918 CPO units last month, which was up 19.8 percent year-over-year. Through eight months this year, they’ve increased certified sales by 13.7 percent, moving 545,034 CPO cars. Breaking […] [Read More]