WASHINGTON, D.C. — Not only are lawmakers taking an issue with how the Consumer Financial Protection Bureau conducts its regulatory business, but some legislators now are also questioning what a former high-level bureau official is doing now that he's back in the private sector. Two high-ranking U.S. House members — Financial Services Committee chairman Rep. […] [Read More]

There’s a bit of an odd coupling when you look at the types of vehicles that have generated the most traction among used-vehicle shoppers on KBB.com. But as Kelley Blue Book’s Arthur Henry points out, there are perfectly good reasons for that. In the latest Hot Used-Car Report from KBB, Henry’s analysis indicates that the […] [Read More]

Wholesale prices are expected to rise again this week — interestingly, at the exact same rate seen last week. NADA Used Car Guide is predicting prices to grow by 0.6 percent, or $100, relative to the two-week average. And while prices are set to increase slightly this week as we start off August, auction prices […] [Read More]

Penske Automotive Group’s same-store used retail sales jumped more than 17 percent year-over-year in the second quarter, part of what Manheim’s Tom Webb calls a “pretty picture” for the used operations of the seven publicly traded dealership groups. Penske was the most recent public retailer to announce quarterly results, and much like its peers, it […] [Read More]

Though the number of franchised dealerships has declined slightly this year, it seems the dealerships that have stuck around are on track to break records and reach an all-time high for average new-vehicle sales per dealership, according to the mid-year Automotive Franchise Activity Report from Urban Science. Healthy sales this year for franchised dealerships has […] [Read More]

The National Automobile Dealers Association reiterated its disagreement this week following voice-vote approval by the U.S. Senate Commerce Committee of S.921, the Raechel and Jacqueline Houck Safe Rental Car Act of 2013. NADA said that the bill would regulate businesses with fleets of five or more rental vehicles (including dealerships that provide loaner vehicles) and […] [Read More]

One of the nation’s dealer groups expanded its footprint this week, with the announcement of the acquisition of a luxury brand dealership. Continuing its expansion with the acquisition of Chicago-area BMW of Orland Park is the Zeigler Automotive Group, which finalized the sale earlier this summer. BMW of Orland Park opened under Zeigler ownership on […] [Read More]

On Credit Group recently announced its dealer wholesale program has expanded to reach across Canada. In support of its national presence, the company hired a new vice president of Inventory on Credit. Tapped for the position is Rick Wilson, who is a 25-year veteran of the automotive industry, with specific experience in the inventory finance […] [Read More]

With what has become a slow economic recovery for Canada as many consumers continue to suffer financial setbacks, the buy-here, pay-here automotive market is experiencing a resurgence of sorts.   Mark Dubois, director and moderator of Buy Here Pay Here Performance Groups at Performance Inc., told Auto Remarketing Canada that this increased interest in BHPH […] [Read More]

AutoCanada Inc. announced this week it has obtained approval from Chrysler Canada to purchase the operating assets and real estate of Eastern Chrysler Plymouth Inc., which owns and operates a Chrysler Dodge Jeep Ram dealership in Winnipeg, Manitoba. The 66-year-old dealership, now part of the AutoCanada dealership group, retailed 660 new vehicles last year and […] [Read More]