Late last week, ADESA and Volvo Cars of North America announced the launch of a new site that will make finding used inventory a bit easier for franchised Volvo dealers. The new lease portfolio management and vehicle purchase website, the Volvo 360 Private Store, is a dedicated auction platform for Volvo dealers. ADESA explained it […] [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]

As the south braces for another winter storm, adding the recent severe cold and icy conditions in much of the U.S., related car repairs may provide a much needed boost to auto repair shops’ slowing growth. According to Sageworks, a financial information company, privately held auto repair and maintenance shops continue to see sluggish growth […] [Read More]

Open Dealer Exchange, the joint venture of ADP Dealer Services and Reynolds and Reynolds, has attempted to streamline the vehicle-buying process with Digital Deal, which includes electronic methods geared to standardize the industry and assist lenders in adhering to Consumer Financial Protection Bureau regulations. ODE officials highlighted Digital Deal can provide an extensive level of […] [Read More]

During the last quarter of 2013, employees of Primeritus Financial Services stayed busy campaigning for destitute families needing food with their collections on behalf of Feeding America Second Harvest Food Bank, and giving special wishes to children with a life-threatening illness through donations to A Special Wish Foundation. Primeritus chief executive officer Chuck Tapp highlighted […] [Read More]

The Federal Trade Commission included a total of 10 dealers in a nationwide regulatory sweep focusing on advertising the sale, financing and leasing of vehicles. On Thursday, the FTC announced nine dealers agreed to settle deceptive advertising charges, and the agency is taking action against a 10th dealer that is still being litigated. According to […] [Read More]

RedBumper founder Bruce Thompson has launched a new company called CarOffer that allows dealers to buy vehicles directly from consumers online. Through the CarOffer mobile app — which is being rolled out by the RedBumper team at this month’s NADA Convention and Expo — consumers can scan, photograph and submit vehicles for sale; then, dealers […] [Read More]

The 2014 CLA isn’t just giving Mercedes-Benz what appears so far to be greater footing in the entry-luxury segment; this new model is quickly becoming a residual value leader for the automaker, says Kelley Blue Book. Based on the January/February 2014 Kelley Blue Book Residual Value Guide, the 36-month residual value for the CLA-Class is […] [Read More]

KAR Auction Services announced Thursday evening that Insurance Auto Auctions chief executive officer Tom O’Brien is stepping down from his IAA post on April 30. Taking his place will be John Kett, who is currently IAA’s president and chief financial officer. Kett becomes president and CEO on May 1. O’Brien will remain a KAR board […] [Read More]

Many high-end vehicle dealers in Canada are breathing a sigh of relief as Canadian and U.S. law enforcement agencies cracked down on an international vehicle theft crime ring, recovering $3.2 million in assets. Car recovery company LoJack Corp. reported its part in the recent bust, providing insight into the international crime ring investigation titled “Project […] [Read More]