Ford announced Friday that it is issuing a safety recall in the U.S. and Canada for approximately 370,000 large sedans — the Ford Crown Victoria, Mercury Grand Marquis and Lincoln Town Car — from the 2005 through 2011 model years. Blue Oval officials pointed out that the recall is only for vehicles in high corrosion […] [Read More]

According to Equifax's latest National Consumer Credit Trends Report, new credit for auto originations between January and May of this year soared to an eight-year high, producing an increase of more than 15 percent from same time a year ago. Equifax also indicated the total number of new loans during that span came in at […] [Read More]

Just before Labor Day weekend, Asbury Automotive Group made a financial market announcement and Penske Automotive Group boosted its international presence. First at Asbury, the company said it issued a notice of redemption for all of its outstanding 7.625 percent Senior Subordinated Notes due in 2017. Officials indicated the redemption date is Sept. 28,  and […] [Read More]

Have a slew of “ups” arrived on your lot or messaged your BDC looking for a used Toyota Prius? If they haven’t already, trends spotted by Kelley Blue Book show there is plenty of interest in the hybrid. Among the top 10 models generating the most shopper activity growth at KBB.com last month, a total […] [Read More]

Auction Edge announced new capabilities for its EDGE ASI system this week, reporting that customers now have EDGE Mobile Check-In and a new Green-Screen Report Generator at their disposal. These new tools are designed to help auctions improve business operations and their responsiveness to customers.  Here’s how they work: [Read More]

The depreciation in auction values leveled off significantly in the past month — but don’t expect this “calm” period to last too much longer. Kelley Blue Book said in a report released Thursday that seasonality and increased supply will lead to lower prices in the lanes and quicker depreciation. In the August issue of its […] [Read More]

Automotive cosmetic reconditioning firm Dent Wizard International this week announced a newly-created position, and the man for the job. Promoted to the role of director of operations is Steve Carpenter, who previously served as regional operations director for Dent Wizard’s Southeast region.  In his new position, Carpenter will be involved in strategic planning as the […] [Read More]

With the college football season cranking up in earnest this weekend, Cars.com released its annual list of top tailgating vehicles while Hyundai highlighted its advertising campaign revolving around pigskin on campus. Experts from the Cars.com evaluated a gamut of vehicles, big and small, to determine which have the most to offer the serious tailgater. “With […] [Read More]

The New York/New Jersey/Connecticut chapter of the National Vehicle Leasing Association is hosting a golf outing, dinner and charity raffle drawing in honor of the colleagues who have been instrumental with the association and the industry who are no longer alive. Organizers said members and non-members are invited to attend the event on Sept. 25 […] [Read More]

Edmunds.com is putting car buyers behind the wheel — literally. The company announced this week it is accepting applications to temporarily hire six current compact car shoppers and educate them on the purchasing process, in a program dubbed the Connect & Drive Experience.   The six shoppers will work from Edmunds.com headquarters in Santa Monica, […] [Read More]