Tesla, the Virginia Automobile Dealers Association and the state's Department of Motor Vehicles came to an agreement that essentially will help avoid litigation surrounding the opening of a Tesla dealership in Northern Virginia. After the Virginia DMV denyed Tesla’s request in April to open a dealership in the area, Tesla appealed the ruling in Fairfax […] [Read More]

Hendrick Automotive Group broadened its footprint in the Tar Heel State this week by adding another Honda dealership to its store portfolio. Chairman Rick Hendrick has partnered with Bob Barbour to open Barbour-Hendrick Honda Greenville. The dealership, formerly Bob Barbour Honda, officially opened under the Barbour-Hendrick name this week in Greenville, N.C. “Rick and I […] [Read More]

CARY, N.C. — POADA is hosting 700Credit, a provider of credit reporting and compliance products and services, for a free Market Intelligence Webinar titled, "Compliance Questions Answered." Kenneth Hill, managing director of 700Credit, will be the presenter during the webinar that's set for Wednesday at 2 p.m. ET. Hill noted three elements participants can expect […] [Read More]

IRVINE, Calif. — For dealers who are trying to bring in subprime buyers who are better prepared to make a purchase, CarFinance.com released its 2013 Top Tips for Buying a Car with Less-than-Prime Credit. For buyers with less-than-prime credit, site officials acknowledged the prospect of purchasing a vehicle can fill them with trepidation. "While over […] [Read More]

IRVINE, Calif. — Spireon, the provider of the GoldStar GPS solution as well as other mobile resource management and business intelligence tools, completed an initial phase of the integration with Frazer's Dealer Management System. The companies highlighted that joint customers of GoldStar GPS and Frazer can now experience online access to a single solution to […] [Read More]

IRVINE, Calif. — Earlier this week, Consumer Portfolio Services marked the closing of its third term securitization of the year. The transaction is CPS' 10th senior subordinate securitization since the beginning of 2011. In the transaction, qualified institutional buyers purchased $205 million of asset-backed notes secured by automobile receivables purchased by CPS. The sold notes, […] [Read More]

Carfax Canada has named a new leader. Joining the company as general manager/managing director of Carfax Canada is Jon Arnett. Arnett has over a decade of automotive experience in Canada, including time in the vehicle history industry, the company shared. In his new position, Arnett will be responsible for overseeing efforts to continue expanding the […] [Read More]

It was the second-best quarter ever for the certified pre-owned market, trailing only the quarter that preceded it (and by just 1.5 percent, no less). That’s the latest on the scorching CPO industry from Autodata Corp., which said third-quarter numbers were quite strong.  There were 540,383 certified sales, good for second all-time behind the second […] [Read More]

On the third day of the first partial U.S. government shutdown in 17 years, Congress will continue its negotiation efforts to pass a series of bills to fund the government. In the meantime, the country waits, as does the automotive industry. The effects of the shutdown on the automotive sector are arising in a few […] [Read More]

Seasonal price declines in the lanes are expected to grow a bit steeper this week, with all segments projected to decline slightly. According to NADA Used Car Guide, wholesale prices, on average, are expected to fall by by 0.9 percent, or $125. “In general, overall declines across all segments are expected to accelerate this week; […] [Read More]