Asbury Automotive Group is confident company dealerships are primed to have a great first quarter and beyond because of a higher level of used-vehicle inventory already in stock and the projected burst of off-lease volume coming into the wholesale pipeline. Asbury executive vice president and chief operating officer Michael Kearney indicated that the group ended […] [Read More]

NextGear Capital on Tuesday announced a new floor planning integration with AuctionACCESS, a development that comes on the heels of a credit line availability integration between the two companies. Officials highlighted these moves will allow auctions to quickly and efficiently originate floor plan transactions for their dealer customers. “NextGear Capital is continually searching for ways […] [Read More]

Asbury Automotive Group sold 18 percent more used vehicles in 2013 on a same-store basis compared to the previous year, but those company dealerships watched their gross profit per unit sag slightly. All told for the year, Asbury reported gains in adjusted income, net income and revenue as it released its latest financial metrics this […] [Read More]

A charity auction at ADESA Phoenix raised more than $60,000 for the Juvenile Diabetes Research Foundation, and saw the auction of two classic vehicles. “We are honored to have this opportunity to contribute to such an amazing organization — JDRF touches the lives of so many impacted by diabetes,” said Mike Russo, general manager of […] [Read More]

GWC Warranty, which serves as a marketer, administrator and underwriter of vehicle service contracts, announced recently that it has been named a Motor Trend Recommended Best Buy for Independent Dealers. The company said it is the only vehicle service contract provider to have earned this distinction. In order to receive this honor, GWC was required […] [Read More]

Analysts from three of the industry’s vehicle-driven websites — AutoTrader.com, KBB.com and Edmunds.com — stayed busy before, during and after Super Bowl XLVIII to compile data showing which automakers generated the most consumer and online traffic buzz through commercials throughout the broadcast. All three sites noticed a significant lift Maserati experienced with its campaign. At […] [Read More]

With a good bit of the country hampered by severe weather, the used-car market last month wasn’t quite as solid as it was a year ago, as sales dipped 0.72 percent, according to CNW Research. That said, franchised dealers bucked the trend, boosting their used-car sales by more than 2 percent. Overall, used-car sales fell […] [Read More]

Why did you decide to enter the car business? Why did you go into that first dealership looking for a job? Joe Verde Sales & Management Training Inc. tackled questions such as these and found the majority of car salespeople chose the position because of the income potential. According to an online survey of auto […] [Read More]

Dealer interest in the Auto Remarketing Canada conference, presented by CarProof, continues to build as the conference draws closer, according to conference organizers. “It has been gratifying to see just how many dealers have been drawn back to the event to join us for another year,” said Bill Zadeits, conference chair. “We’re also seeing new […] [Read More]

Fitch Ratings projected that increased supplies of off-lease vehicles coupled with rising inventories and new-vehicle production could hurt the wholesale market and auto ABS performance metrics over the long term. Citing data from Ward's Automotive, Fitch indicated that days' supply (the number of days the used-vehicle inventory would require to be completely liquidated) at the […] [Read More]