In this tight used supply environment, creating loyal, repeat customers can be extremely pivotal for a dealership, as trade-ins have been highly sought-after. That said, a Maritz research study shows that many dealers have a lot of room for improvement when it comes to retaining open lines of communication with customers after they leave their […] [Read More]

Twenty-one years and 2,100 units linked the DAA Northwest 21st anniversary sale, held Nov. 6-7 and marking the auction’s inaugural offering from Toyota Financial Services. The 61-percent sale event saw a “dramatic lift in consignment, dealer attendance and sales,” the company noted, and took place in conjunction with the auction’s annual charity fundraiser.  It was […] [Read More]

In the latest online video in his series, “Hard Facts with Dennis Galbraith,” the chief marketing officer of Potratz Advertising offered advice not only to turn that inventory that’s getting long in the tooth, but also how to leverage the most out of those vehicles he said are “hotter than donut grease.” Galbraith began with […] [Read More]

WESTLAKE VILLAGE, Calif. — The J.D. Power 2013 U.S. Consumer Financing Satisfaction Study showed those initial steps in the F&I process determine which companies score high marks with consumers and which ones do not. According to the study released today, lenders that provide excellence in the servicing and onboarding experiences from the beginning of the […] [Read More]

ONTARIO, Calif. — Along with an alliance with a Utah-based subprime finance company, CU Direct Corp. recently finalized new partnership agreements with nine credit unions. As a result of the agreements, officials highlighted the credit unions will be incorporating products from CU Direct's suite of auto lending solutions to drive loan growth, business efficiency and […] [Read More]

COLLEYVILLE, Texas — Michele Myers, vice president of financial services of the New York-based Dorschel Group, recently posted a perfect score on the rigorous 200-question Association of Finance & Insurance Professional Senior Certification Exam. In 23 years of administering the exam, AFIP executive director David Robertson said Myers is only the fourth person to answer […] [Read More]

CINCINNATI — Steady is as good an adjective as any to describe credit approval trends in connection to vehicle leases last month, according to data reported last week by Swapalease.com. Site officials said credit approvals came in relatively unchanged in October compared with the previous month. The year-to-date approvals for customer credit finished October at […] [Read More]

On Thursday night, KAR Auction Services named a new president and chief executive officer of ADESA effective Jan. 6. Appointed to the role on that date will be Stephane St. Hilaire. Meanwhile, Tom Caruso will be named chief client officer for KAR. St. Hilaire is currently the president and chief operating officer of ADESA Canada. […] [Read More]

After a group of analysts reported that October saw the biggest auction price decline this year, it seems used-car price depreciation is slowing down this month. Following a 3.5-percent drop last month, according to NADA data, depreciation “eased up substantially over the first half of November,” NADA Used Car Guide senior automotive analyst Larry Dixon […] [Read More]

On Thursday, Reynolds and Reynolds acquired XtreamService, a software company founded in part by Hendrick Automotive Group chairman Rick Hendrick that is designed to help dealerships reach customers more effectively and deliver improved sales, service and customer retention results. Terms of the acquisition were not disclosed. Officials explained Xtream is a data mining tool for […] [Read More]