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]

DriveItNow — a monthly payment marketing technology service of Automobile Consumer Services Inc. — announced a partnership that will allow it to include real monthly payments in their vehicle inventory videos. Through an agreement with Flick Fusion Technologies, consumers can see realistic monthly payments on vehicles they are interested in when watching the video featuring […] [Read More]

The emphasis on advertising in December focused around performance and innovation, according to Phoenix Automotive’s latest “Auto Insights” report. And it seems to be attracting consumers, as the percentage of shoppers in the market for a new car and planning to purchase a in the next three months grew in December. That number increased slightly […] [Read More]

More than a couple handfuls of import brands posted all-time bests for certified pre-owned sales last year, according to Autodata Corp., which said that the collective full-year sales totals for both Asian- and European-brand sales were up by double-digit percentages. Joining Ford/Mercury/Lincoln as best-ever full-year CPO achievers were Audi, Honda, Hyundai, Kia, Lexus, Mazda, Mercedes-Benz, […] [Read More]

Many dealers are suffering from the “big squeeze” in used vehicles. The effects of the “big squeeze” are easy to identify. Dealers are paying higher costs to acquire and recondition used vehicles, and seeing a greater degree of pressure on retail prices and front-end gross profits. We can thank increased competition among dealers to find […] [Read More]

Manheim chief economist Tom Webb dissected the short- and long-term impact of rising off-lease volume when he conducted his first quarterly conference call on Wednesday morning. Webb highlighted the positive prospects including the swell of potential certified pre-owned vehicles for franchised stores as well as how the entire industry is in much better position to […] [Read More]