DataScan Field Services announced Monday its purchase of Launch Technologies LLC and Field-Logic LLC. These two firms operate together to provide floor plan auditing technology and audit services to financial institutions. “This acquisition is truly strategic for our company,” said Brent Sergot, president of DataScan Holdings. “Building on our industry experience and history of outstanding […] [Read More]

Autobytel announced Monday afternoon that it has purchased Web-based auto leads and services provider AutoUSA from AutoNation. Autobytel outlined the purchase price as follows:   — $10 million in cash — A $1.0 million, 6-percent convertible note payable in one lump sum in five years and convertible to Autobytel common stock at a conversion price […] [Read More]

Dealers interested in taking part in the 2014 NADA Dealership Workforce Study, offering analysis and data to help them attract and retain quality employees, will have their chance later this month. Participation in the study opens to dealer members of the National Automobile Dealers Association and American Truck Dealers at the NADA Convention & Expo, […] [Read More]

Following enhancements to its product lineup and a branding evolution, auto revenue and retention solutions provider MPi on Monday announced the company’s new name, AutoPoint. The AutoPoint Platform is a suite of integrated applications that allows a dealership to optimize its current and future fixed operations revenue opportunities, the company reported, and offers a 400 […] [Read More]

For the third time, a former racing duo has teamed up to open an auto dealership in Tennessee. Late last week, Hendrick Automotive Group officials announced that the company will manage the new Darrell Waltrip Buick GMC in Franklin, Tenn., the third dealership the duo has opened in this Nashville suburb. Joining Chairman Rick Hendrick […] [Read More]

In its January/February Industry Report, ALG took an in-depth look at three premium sports cars to see how their residual values stack up against fellow models in their respective segments and within their own brands. Starting with the 2014 Chevrolet Corvette Stingray, its 36-month residual value is at 57 percent. This is 6 percentage points […] [Read More]

A colleague passed along a 2013 year-end report from the United Kingdom-based dealer IT research firm Woods and Seaton. The report details some of the high-profile acquisitions that occurred in the past year as DMS and specialty vendors vie to provide dealers here and abroad with integrated solutions to increase efficiencies and profitability in their […] [Read More]

Pickups enjoyed strong price retention throughout 2013, spurred by high demand and low supply. And it seems consumer interest isn’t waning.   According to the latest Automotive Shopper Intensity report from Dataium, there was a large increase in in online auto shopping activity towards full-sized trucks last month. But not just any trucks; those “capable […] [Read More]

The industry recently closed out the fifth straight year of used-vehicle growth (0.4 percent year-over-year), according to NADA Used Car Guide’s latest Guidelines report. And the year’s closing prices constituted an 18-percent hike when compared to pre-recession values in 2007. Which models saw the biggest price jumps last year? Supported by what NADA UCG’s Jonathan […] [Read More]

Though used supply may finally be loosening, it didn’t expand enough to push used prices down in 2013. According to NADA’s latest Guidelines report, December closed out the fifth straight year of used-vehicle price growth. More specifically, 2013 ended with prices of units up to 8 years in age 0.4 percent higher than they were […] [Read More]