With dealer advertising promoting attractive financing options in the crosshairs of the Federal Trade Commission, the National Automobile Dealers Association is hosting a free webinar aimed at helping stores keep their campaigns compliance. NADA officials highlighted the upcoming “Comply with Federal Advertising Requirements” webinar will provide participants the opportunity to hear directly from a panel […] [Read More]

The same methodology utilized by the federal agency to levy enforcement actions against vehicle financing companies might be what could be used against the regulator, as well. A trio of Republican House members gave the Consumer Financial Protection Bureau until Thursday to provide answers and other details to 14 different questions all stemming from recent […] [Read More]

In what the company has described as “an innovation in online car shopping,” Carfax announced this morning that online car shoppers at Carfax.com can now search for used vehicles with specific history details — meaning shoppers can tailor their searches to include, for example, vehicles that have service records available or cars with no accidents […] [Read More]

In a recent post to the AutoEconomy trends section of Edmunds.com, Lacey Plache — the site’s chief economist — dispels some of the commonly held notions about leasing, and in doing so, illustrates how it has gone “mainstream,” as the title of the post would indicate. And it’s likely to become even more popular in […] [Read More]

It’s all the talk of the auction lanes, wholesale channels and dealership staff meetings nowadays: Tax season. And the situation also pushed February’s Manheim Used Vehicle Value Index reading 1.1 percent higher versus a year ago. Manheim calculated that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) rose 0.8 percent in February, […] [Read More]

During the inaugural National Auto Auction Association PAC Cup Challenge, NAAA’s Eastern Chapter captured the coveted trophy with the winning donation total of $14,315 to the political action committee. Officials highlighted the Midwest Chapter ranked second, with the Southern Chapter third and fourth place going to the Western Chapter. As the top fundraiser, the Eastern […] [Read More]

At the NAAA/CAR/IARA event in Las Vegas, the National Auto Auction Association named Toyota Financial Services’ Mike Reid a Warren Young, Sr., Fellow, an honor that recognizes Reid for his commitment to the auction business. In giving the award to Reid — who is national manager of remarketing at TFS — NAAA also made a […] [Read More]

The nation’s ninth largest auto retailer is now  larger, as the company continued its strategy of seeking exclusive franchises within its markets in announcing the expansion of its store count.   Lithia Motors on Friday noted its acquisition of Honolulu Buick GMC Cadillac and Honolulu Volkswagen in Honolulu, Hawaii, bringing the company’s store count in […] [Read More]

Earlier this week, RouteOne announced that Friendly Finance Corp. is now available as a fully integrated lender on the RouteOne platform. Dealers who have a relationship with Friendly Finance can now process credit applications electronically to Friendly Finance through RouteOne. Friendly Finance is a subprime lender specializing in providing customers with auto loans before they […] [Read More]

The American Bankruptcy Institute reported that total bankruptcy filings in the United States decreased 12 percent in February compared to the same month last year. According to data provided by Epiq Systems, bankruptcy filings totaled 72,193 in February, down 82,336 filings a year earlier. Consumer filings also declined 12 percent to 69,380 in February, dropping […] [Read More]