In a Kelley Blue Book analysis released late last month that pointed to April being “another solid month” for the new-car market, KBB senior analyst Alec Gutierrez attributed some of the sales strength to enticing lease deals. Along with “rising consumer confidence and improving employment conditions,” Gutierrez said in the April 28 report that new-car […] [Read More]

AutoNation reported that April’s sales performance in its new-vehicle department produced the best figure for the fourth month of a year since 2006. The dealer group reported to automakers retail sales of 25,669 new vehicles in April, an increase of 14 percent year-over-year. On a same-store basis, AutoNation generated 24,955 retail new-vehicle unit sales in […] [Read More]

There were 193,091 certified pre-owned sales in April, according to Autodata Corp., which said this was a 9.5-percent improvement over year-ago figures. Through the first four months of the year, dealers have sold 744,861 certified units, which beats the year-ago sum by 10.5 percent. Asian automakers sold 91,027 CPO cars in April, which marked a […] [Read More]

The American Financial Services Association is continuing to work toward educating the youngest consumers so they have a better baseline knowledge of budgeting and more before the potential buyers arrive at the dealership F&I office. Since its launch 10 years ago, the AFSA Education Foundation’s personal finance course MoneySKILL has steadily increased its reach among […] [Read More]

CU Direct Connect, a provider of indirect auto lending services to credit unions and dealers, expanded outside of its base in Colorado for the first time this week. The company launched a partnership with Reliant Federal Credit Union in Casper, Wyo. CUDC officials explained that expanding outside of Colorado is to support the demand of […] [Read More]

Credit Acceptance chief executive officer Brett Roberts acknowledged just how much the competitive landscape finance companies are finding to book subprime contracts impacted the company’s first-quarter performance. While the company’s consumer loan unit volume and active dealer figures both jumped by double digits year-over-year, Credit Acceptance reported that its consolidated net income softened in Q1. […] [Read More]

One of the nation’s largest dealership groups is one dealership larger, as the company expands its footprint within its original market. On Friday, Larry H. Miller Dealerships announced the acquisition of Pro Chrysler Jeep Dodge Ram of Thornton, Colo., now renamed Larry H. Miller Chrysler Dodge Jeep Ram 104th. The acquisition boosts the group’s presence […] [Read More]

Former Hyundai Motor America president and chief executive officer John Krafcik is now the president of TrueCar, which released a statement on the news Thursday. The position is a newly created one, TrueCar said. In April, Krafcik was named to TrueCar’s board of directors. “John Krafcik not only has a deep understanding of the automotive […] [Read More]

Although final numbers are still being sorted out, April’s used-vehicle sales likely reached a summit just a shade under 4 million, according to CNW Research, which said this would beat year-ago numbers by 3.7 percent. The firm put out its latest Retail Automotive Summary on Wednesday, not long before many automakers were releasing monthly certified […] [Read More]

vAuto announced this week it has promoted one of its own to lead the company’s product management efforts. Mandi Fang has been promoted to the role of vice president, product management — a newly created position for vAuto. The company said that Fang will lead the development, growth and innovation of the company’s new- and […] [Read More]