Sonic Automotive says more than 130 to 150 monthly used-vehicle sales at each of its stores are possible, and suggests the key to reaching this perch are two new programs it has recently implemented: True Price and the Sonic Inventory Management System. Sonic chief financial officer Heath Byrd, speaking at the Goldman Sachs 2013 Global […] [Read More]

NADA Used Car Guide executive automotive analyst Jonathan Banks explained how last month’s headline-grabbing new-vehicle sales performance is creating price trends in the used-vehicle space that ought to delight dealers. Banks recapped how franchised dealers turned 1.5 million new models in August. This pushed the new-vehicle seasonally adjusted annualized rate above 16 million for the […] [Read More]

Is interacting on social media really that much different than a face-to-face dialogue people might have? The experts at Potratz Partners Advertising don’t think so and explained why in their latest video of their online series, “Think Tank Tuesday.” Samantha Cunningham, vice president of account services at Potratz, began her recommendation by sharing an example […] [Read More]

Every dealer knows that the inventory that turns the fastest is often the most profitable. This is compounded by the carrying cost of the vehicle (often cited as $10-$25 per day). For both reasons, the longer a car remains in inventory, the more it eats into your profits. That’s why it’s critical to measure and […] [Read More]

Growth is taking place again for one Louisiana auction company, as it announces its second construction phase in as many years. After completing a $1 million facility expansion in late 2012, Louisiana’s 1st  Choice Auto Auction confirmed this week that an additional 4.5 acres are being cleared at the auction site, to keep up with […] [Read More]

After rising almost every month this year, it seems wholesale prices have slowed their game, as fall is bringing lower rates at auction. The ADESA Canada Used Vehicle Price Index, powered by ALG Canada, has been updated through August, and shows a decrease of 0.5 percent from July. And the negative price movement was consistent […] [Read More]

The Automotive Industries Association of Canada revealed a series of management changes this week — moves designed to better serve its members. First up, AIA promoted Andrew Shepherd to senior director of industry programs and executive director of I-CAR Canada. In his new role, Shepherd will be responsible for overseeing the I-CAR training program,  direct […] [Read More]

NEW YORK — As analysts described overall consumer credit performance as "healthy," the auto loan portion of the newest S&P/Experian Consumer Credit Default Indices showed a slight uptick. Data through August compiled by S&P Dow Jones Indices and Experian revealed auto loan defaults edged up to 1.11 percent last month, up from 1.03 percent in […] [Read More]

NEW YORK and CHICAGO — Fitch Ratings contends that loosening underwriting standards and higher funding costs have led auto lenders to increasingly extend credit to subprime consumers. However, analysts view the higher propensity to lend to "weaker" borrowers as a "relative" normalization in credit metrics, seen previously with the 2004 through 2006 vintages. Fitch recapped […] [Read More]

GREEN BAY, Wisc. — The Russ Darrow Group delved deeper into the buy-here, pay-here business and broadened its used-vehicle operation this week by unveiling two new dealerships at one location. Located at 2800 Ramada Way in Green Bay, Wisc., the group now is running another Russ Darrow Used Car Superstore, the second of its kind […] [Read More]