Brake fluid diagnostic purveyor Phoenix Systems announced a new partnership last week to offer the company’s Project Stop Safe system to members of the National Independent Automobile Dealers Association. The goal of the program, which facilitates Phoenix System’s brake fluid safety inspection, is to give NIADA members the opportunity to equip their dealerships with the […] [Read More]

Do the math on this one: Bourne’s Auto Center is stocking less and selling more. Previously, the number of used retail units that the store kept in its inventory was in the high 300s, said general manager Michael Kelley. This year, the Boston-area independent dealer has reduced that number to around 312. However, its used […] [Read More]

There is the expectation out there that off-lease volume is set to spike in the second half of the year, and Tom Kontos echoes that sentiment. In an interview with Black Book editorial director Ricky Beggs, Kontos — the chief economist at ADESA — talked on key aspects of the wholesale industry such as retail […] [Read More]

The 2015 National Automobile Dealers Association Convention & Expo, which will be hosted in San Francisco from Jan. 22 through Jan. 25, announced a few prominant keynote speakers on Monday, including Jeb Bush, Jay Leno and Beck Weathers. The NADA convention, in its 16th time in San Francisco since 1948, will have its first keynote […] [Read More]

On Monday, Ally Financial and TIME opened the nomination period for the 2015 TIME Dealer of the Year program, which has incorporated a new strategy to determine who will be in the running for the honor. The process kicked off at the annual Automotive Trade Association Executives (ATAE) Summer Conference in Laguna Niguel, Calif. This […] [Read More]

When it comes to the private retail industry — ranging from clothing and specialty foods to grocery stores and gas stations — used-car dealerships lead the pack for sales growth and profitability. That’s according to financial information company Sageworks, who reported sales growth and profitability among used-car dealerships is higher than for all privately held […] [Read More]

The National Auto Auction Association will hold its next round of Auction Standards Training about one month from now, as it will offer a course on vehicle grading (AutoGrade) at Manheim Dallas on Aug. 18 and Aug. 19. Day 1 will include a damage analysis overview, and Day 2 will include a structural damage overview. […] [Read More]

The Consumer Financial Protection Bureau recently clarified its regulatory position to ensure the agency is aligned with last year’s Supreme Court decision regarding same-sex marriages. The bureau recapped the court struck down Section 3 of the Defense of Marriage Act as unconstitutional last June. In order to fully implement this decision, the CFPB took steps […] [Read More]

In an attempt to increase consumer convenience and reduce payment processing costs, Southern Auto Finance Company (SAFCo) recently selected the UP Bill Payment Solution from ACI Worldwide. Now, SAFCo customers will be able to pay their vehicle loans electronically on a mobile device, computer or via phone with a debit card or ACH (Automated Clearing […] [Read More]

The American Bankers Association’s Consumer Credit Delinquency Bulletin showed mixed movements of consumers maintaining payments on their vehicle loans during the first quarter. Officials said that Q1 delinquencies associated with direct auto loans — financing arranged directly through a commercial bank — dipped year-over-year from 0.79 percent to 0.76 percent. Meanwhile, ABA found that delinquencies […] [Read More]