Finance companies that have auto loans in their portfolios better hope that millennials — consumers between the ages of 18 and 29 — don’t think of their vehicle installment contracts in the same light as their student loans. If so, the charge-off departments are going to be busy. A recent survey by Junior Achievement and […] [Read More]

The American Bankruptcy Institute reported U.S. filings for November decreased 16 percent year-over-year; a pace that maintains the projection of the lowest annual total in seven years. According to data provided by Epiq Systems, November bankruptcy filings totaled 62,403, down from the 74,070 filings registered in the same month last year. Total commercial filings for […] [Read More]

Reynolds and Reynolds and RouteOne reached a new agreement on Monday to integrate RouteOne’s eContracting system with Reynolds’ docuPAD software, which can provide dealerships with the capability to capture electronic signatures for vehicle financing eContracts directly from docuPAD workstations and send them to RouteOne. Previously, the companies explained F&I managers switched between applications and technology […] [Read More]

On Monday, Auto/Mate Dealership Systems rolled out the addition of rates, residuals and rebates information to its Automotive Management Productivity Suite (AMPS) Desk/Mate module. Officials highlighted dealerships that use Auto/Mate's desking solution now have access to real-time lease rates, residuals, manufacturer incentives and other rebate information, enabling F&I managers to quickly and accurately work the […] [Read More]

Big 3 automakers combined to sell nearly 70,000 certified pre-owned vehicles in November, beating year-ago figures by 16.9 percent, according to Autodata Corp. Specifically, the 69,915 CPO sales among domestics in November put the year-to-date tally at 758,486 sales, a 15.7-percent improvement over the first 11 months of 2013. Ford’s brands sold 22,552 certified cars […] [Read More]

In a business with an ever-growing amount of regulation to abide by, you may, at times, feel a bit overwhelmed with the number of rules to be followed to do business legally. Fortunately, there is a wealth of knowledge and helpful advice to tap into should you ever have any questions. Auto Remarketing Canada had […] [Read More]

Chrysler Group’s vice president of dealer network development announced late last week his intentions to retire. Peter Grady, who also leads Maserati North America as the company’s president and chief executive officer, will be stepping down, effective March 31. The company said in the meantime, Grady will retain his current responsibilities and remain a member […] [Read More]

The upturn in wholesale vehicle prices “showed a more sizable gain” in November, according to the latest update of the Manheim Used Vehicle Value Index. After ticking up in October, Manheim determined the movement of wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) pushed the November index reading to 123.3, which represented […] [Read More]

ServNet recently announced several adjustments to its leadership team. At its fall owners’ meeting, Eric Autenrieth, co-owner and general manager of Indiana Auto Auction, was elected to the group’s board of directors. Autenrieth, also the group’s representative to the International Automotive Remarketers Alliance, succeeds Brad Sturgeon, of DAA of the Rockies and DAA of the […] [Read More]

Two blockbuster dealer group acquisitions this year — Berkshire Hathaway’s purchase of the Van Tuyl Group, along with Lithia Motors buying DCH Auto Group — are proving to be game-changers on the mergers and acquisitions side of the retail auto business. As Erin Kerrigan, founder and managing director of Kerrigan Advisors, said in her firm’s […] [Read More]