As we near the new year, Consumer Digest revealed late last week its choices for its 2014 Automotive Best Buys. Thirty-seven vehicles and eight companion models received Best Buy ratings from Consumers Digest for the 2014 model year. The Japanese and Korean automakers made an impressive showing this year, combined to grab a 10 percentage […] [Read More]

The National Highway Traffic Safety Administration said General Motors is recalling nearly 19,000 full-size pickups equipped with manual reclining seatbacks from the 2014 model year. The agency indicated the recalled units include the Chevrolet Silverado and GMC Sierra 1500 manufactured from Aug. 1 through Sept. 10. In the affected trucks — 18,972 units according to […] [Read More]

SOUTHFIELD, Mich. — As loan unit and dollar volumes jumped by double digits year-over-year, Credit Acceptance Corp. also produced a 23-percent increase in consolidated net income during the third quarter. Credit Acceptance's consolidated net income came in at $65.1 million or $2.75 per diluted share for the quarter that ended Sept. 30. A year earlier, […] [Read More]

RANCHO SANTA MARGARITA, Calif. — Finance Express released its new WorkList feature for independent dealerships that use the provider's Web-based financial services technology. The company explained WorkLists — also known as queues — have typically been utilized by FEX buy-here, pay-here dealers to manage and collect due accounts. FEX enhanced and expanded the application of […] [Read More]

BANDON, Ore. — As the industry appeared to regroup after last month's federal government shutdown threw a wrench into the mix, CNW Research reported that October's used-vehicle retail sales total rose above some analysts' projections. CNW said October's tally came in at 3.152 million units, representing a combination of sales at franchised and independent dealerships […] [Read More]

WASHINGTON, D.C. — Last week, the American Financial Services Association submitted a letter to six federal agencies on their proposed rule regarding credit risk retention. AFSA's letter focused on the impact of the proposed rule on the vehicle finance industry. The association encouraged the agencies — which included the Office of the Comptroller of the […] [Read More]

This past quarter made it 17 straight that the publicly traded dealership groups increased their same-store used unit sales, according to the latest blog post from Manheim’s Tom Webb. Not to mention, the past two quarters have shown double-digit gains for these retailers, he noted “With respect to unit volumes, it is very good trend […] [Read More]

It may arguably be the most expensive place to rent an apartment, catch a play or enjoy a steak, but when it comes to having the best deals on used cars, the Big Apple might as well be the Big Steal. According to iSeeCars, New York City tops the list of cities when it comes […] [Read More]

Due to a long-standing tradition of treating used vehicles alike — from the practice of applying standard, cost-up mark-ups to addressing age and pricing issues at standard intervals, many dealers are not giving sufficient, individualized attention to every used vehicle in their inventories. This inattention appears to be most profound when it comes to pricing […] [Read More]

Chief executive officer and president of NCM Paul Faletti Jr. had some interesting news for dealers this week. The exec revealed that NCM AXCESSA — the company's dealership data management platform — has completed integration with DealerTrack DMS. Faletti said, “The DealerTrack team was a pleasure to work with and we are excited to offer […] [Read More]