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]

Chrysler Group made several announcements today, including the establishment of a new office and the appointment of new leadership. The new office of Vehicle Safety and Regulatory Compliance will be responsible for its namesake (the company’s vehicle safety and regulatory compliance), responsibilities that had previously been held by Chrysler’s global engineering group. The group will […] [Read More]

Pick an automaker, domestic or import, and they’ve probably recalled thousands of vehicles so far in 2014. In light of this year setting a new record for recalled vehicles, Potratz Partners Advertising shared two separate recommendations aimed at helping dealerships use recalls to improve both the service and sales departments. “Despite the negative aspect of […] [Read More]

Millennium Capital and Recovery Corp. recently achieved the SSAE 16, AT101 Service Organization Controls (SOC) 2 report representing the third consecutive year in which the recovery management service provider attained this coveted certification as recognized by the American Institute of Certified Public Accountants (AICPA).  Executives highlighted a SOC 2 examination is widely recognized because it […] [Read More]