The adjustments in trade-in values for cars and trucks in September’s Official Used Car Guide were fairly typical to recent editions, according to the latest Guidelines report from NADA Used Car Guide. However, despite the value decreases being “predominantly mild overall,” a few segments were found to have had a steeper downhill slide. One was […] [Read More]

Most dealers now accept that the Internet is today’s prevailing mode of discovery for new- and used-vehicle buyers. The sharper dealers have taken this recognition a step further, addressing what’s been termed a “disconnect” as vehicle buyers visit dealerships. For example, the sales associates at these dealerships don’t really consider customers as “fresh ups.” The […] [Read More]

Auto Remarketing is hosting a free webinar with one of our frequent contributors, Patrick McMullen, the vice president of MAXSystems. McMullen plans to share four key takeaways during his presentation titled, “Winning in the Age of Gen Y,” which is set for Tuesday at 2 p.m. ET. He explained attendees will learn more about four […] [Read More]

The country’s largest minority-owned auto franchise just got bigger, with the addition of a Toyota dealership in the Lone Star State. RML Automotive, which is headquartered in Little Rock, Ark., announced this week its acquisition of Toyota of Lewisville in Lewisville, Texas. The 74,000-square-foot, state-of-the-art facility was previously owned by Rene Isip and currently employs […] [Read More]

WASHINGTON, D.C. — Is it easier for the U.S. to unleash a military strike in the Middle East than it is to counter a decision issued by the Consumer Financial Protection Bureau? The chairman of the U.S. House Financial Services Committee thinks that scenario just might be true. During a committee hearing in which the […] [Read More]

SKOKIE, Ill. — The auto lending market has been dominated by indirect lenders with very few companies that have both direct and indirect lending operations. The current state of the auto finance industry is marked by aggressive competition looking for larger market share without clear distinction between prime and subprime and many lenders trying to […] [Read More]

LAKE SUCCESS, N.Y. — Dealertrack Technologies unveiled a new tool this week meant to assist dealerships in developing a fair lending policy and better defend themselves in credit discrimination audits. The company introduced an Equal Credit Opportunity Act Model Fair Lending Compliance Policy Template and Model Exception Rate Justification Sheet for Dealertrack compliance subscribers. Company […] [Read More]

CENTENNIAL, Colo. — CU Direct Connect announced this week that it has signed an agreement with Sonic Automotive to be a preferred lender for the dealer group's stores in Colorado. Officials indicated the agreement became effective on Aug. 1. CU Direct Connect, through its more than 34 member credit unions, is collectively one of the […] [Read More]

Certified pre-owned sales were strong in August for the European automakers, with one luxury brand, in particular, touting its best August ever for CPO sales. Audi Canada had its best August ever this past month, with 436 CPO vehicles sold. Jonathan Breton, manger of certified pre-owned and corporate sales, said this number is up 16.9 […] [Read More]

Canadian minister of finance Jim Flaherty confirmed this week that the government has made strides to move General Motors towards private sector ownership. Canada GEN Investment Corp. — a wholly-owned subsidiary of the Canada Development Investment Corp., who holds Canada's interest in GM — has sold 30 million shares of common stock of General Motors […] [Read More]