Announcing a pair of auction leadership moves, Manheim said Friday that it has named Michael Meyer as general manager for Manheim Arena Illinois, and Greg Beck as general manager for Manheim San Francisco Bay. “Mike is a dynamic leader who will use his expertise and experiences to deliver solutions that help our customers succeed,” said […] [Read More]

Lease penetration for February is speeding away at an all-time clip, according to J.D. Power and Associates, which said at this pace, the month’s leasing rate would beat a record set nearly a decade-and-a-half ago. Interestingly enough, J.D. Power’s analysis of its Power Information Network data also indicated that long-term loans are on track for […] [Read More]

On Friday, NADA Used Car Guide released the first of a two-part series on vehicle value retention. This latest monthly NADA Perspective report tackles retention within passenger car segments and next month’s will look at trucks. So what car segments and individual models maintain their values the best? First, here’s how NADA UCG went about […] [Read More]

Kia Motors America and JM&A Group have renewed their deal for JM&A to be the provider of F&I products for Kia dealers.   The two companies first signed a deal in 2007. The lineup of products JM&A provides to Kia dealers, referred to as Kia Distinction, includes the following: —Vehicle protection plan —Maintenance plan —Road […] [Read More]

Manheim’s Tom Webb dissected the fourth-quarter reports from the seven publicly traded dealership groups and discovered same-store used unit retail sales increased for the 18th consecutive quarter. Webb pointed out that these companies managed to keep this streak going even though the year-over-year comparisons represented “an increasingly high hurdle.” Nevertheless, Webb mentioned in his latest […] [Read More]

Although the year-end financial results for buy-here, pay-here operators are still being compiled and individual results will vary, members of the National Alliance of Buy-Here, Pay-Here Dealers I surveyed about 2013 performance indicated the following: 1. Increased Competition Unit sales for most operators were flat or declined (some by up to 25 percent) from 2012, […] [Read More]

A host of high level law enforcement agencies that can target a dealership in the Tar Heel State are suing operators who have been in business in North Carolina's largest city for more than 15 years. Earlier this month, the U.S. Department of Justice, the U.S. Attorney's Office for the Western District of North Carolina […] [Read More]

The Internal Revenue Service appears to be increasing audit efforts within the used-vehicle industry. And one particular element is especially important for buy-here, pay-here dealers to understand: Form 1099-C. Before delving too heavily into this wideranging topic, two accounting experts indicated operators need to understand one important point. If the BHPH store Scott Ruby has […] [Read More]

Aiming to help dealers keep tabs on advancements in technology, ADP Dealer Services announced late last week they will be launching Dealer Solutions Expos after receiving positive feedback surrounding their Fixed Ops Expos last year. The new events will be designed to “show what successful dealerships are doing to change the way they do business […] [Read More]

If the Consumer Financial Protection Bureau gets it way, potential buyers who have a credit card account will already know their credit score before they walk on the lot or enter the F&I office looking to complete vehicle financing. On Thursday, the CFPB called on the nation's top credit card companies to make credit scores […] [Read More]