As a group of six U.S. senators pressed Attorney General Eric Holder for an investigation of the automaker’s recalling of older models with problematic ignition switches, General Motors refuted reports that chief executive officer Mary Barra knew much earlier than Jan. 31 about significant issues. Online reports surfaced based on the Congressional release of an […] [Read More]

Earlier this month, NADA Used Car Guide’s Stu Zalud said he and his wife were out to purchase a vehicle and had a trade-in. The price the dealer was offering for the trade was simply on a piece of paper. “That’s kind of how it’s always been done,” he said. “No real validation, no background, […] [Read More]

Equifax recently considered the difficult online advertising challenges faced by automakers, ad agencies, finance companies and dealers and how they can vary greatly by region. Analysts dissected trends from three major markets — Atlanta, Detroit and Seattle — in association with leasing potential. Equifax found that these three markets demonstrate how complex it is to […] [Read More]

One of the things I love about being a dealer is that no two days are ever the same. Maintaining and growing a business requires constant vigilance and engagement with manufacturers, employees, vendors, and so many others. In the middle of my daily schedule, I find that keeping tabs on events in Washington can easily […] [Read More]

Ally Financial began trading on the New York Stock Exchange Thursday as the U.S. Department of the Treasury agreed to sell 95 million shares of common stock at a price of $25 per share in a plan to generate $2.375 billion in proceeds to taxpayers from Ally’s initial public offering. According to analysis from Bloomberg […] [Read More]

Reputation and desirability are among the factors examined by Kelley Blue Book editors in compiling their list of the 10 Best Used Cars Under $8,000. Topping the list, and claiming three of the top 10 spots, is Honda. The automaker ranks first with its 2007 Civic, takes third with the 2005 Accord, and seventh with […] [Read More]

Black Book highlighted that its latest used-vehicle depreciation data, coupled with this year’s harsh winter, will push certain seasonal sales into April, possibly extending the tax seasons for dealers and finance companies that cater to subprime buyers. Analysts reported this week that used vehicles from the model years 2008 through 2012 depreciated by 0.3 percent […] [Read More]

The newest details shared by General Motors about its recall investigation turned up several noteworthy developments — suspended engineers, ignition lock cylinders and a $1.3 billion charge to its first-quarter accounting ledger. On the same day the OEM made an addition to the repair order associated with the recall, increasing its costs for campaigns so […] [Read More]

 Greater Milwaukee Auto Auction announced recently that the auction has rolled out a new reconditioning facility. The on-site recon facility includes three long wash lanes, a five-car service department, a full body shop, auto upholstery services and corporate offices for its fleet consignors. The auction has now expanded to 35.5 acres. “We have separate fleet […] [Read More]

The American Bankruptcy Institute reported that total bankruptcy filings in the United States decreased 12 percent in the first quarter compared to the same period last year. According to data provided by Epiq Systems, bankruptcy filings totaled 231,647 in the first quarter, down from the 263,635 filings registered in Q1 of 2013. ABI indicated total […] [Read More]