More than three-fourths of all certified pre-owned sales in the first quarter included financing, according to J.D. Power and Associates. This point certainly helps back up the assertion that CPO and financing are “highly co-dependent” on each other, as Kia’s Brad Beer put it. [Read More]

We left off in our series with the first two keys to consumer relevance; in this post, we’ll explore the third key: MARK. MARK sums up the key factors that influence a consumer’s decisions when shopping for a car: Mission, affordability, risk and key differentiators. We’ll go deeper into detail about each of these in […] [Read More]

FARMINGTON HILLS, Mich. — While recent bulletins from federal regulators have been associated with F&I elements such as dealer participation, RouteOne reminded principals and managers about the potential consequences for not complying with rules associated with adverse action notices and risk-based pricing. RouteOne digital marketing manager Francis Gojcaj shared a question often asked by dealers, […] [Read More]

PARSIPPANY, N.J. — Avis Budget Group has purchased Payless Car Rental in a $50 million cash deal.  In announcing the news this morning, Avis indicated that adding North America's sixth largest car-rental company "will give Avis Budget Group a strong position in the fast-growing deep-value segment of the car rental industry." From a customer perspective, […] [Read More]

MISSION VIEJO, Calif. — Consumer finance management system provider DealerCentric Solutions recently made its online credit application platform optimized for mobile. The company highlighted the tool, "Get Pre-Approved in Seconds" comes at no additional charge for the more than 3,000 dealerships nationwide and online listing providers such as Cars.com that currently use the platform. DealerCentric […] [Read More]

ALEXANDRIA, Va. — Last week, the National Credit Union Administration announced that Mission Federal Credit Union of San Diego purchased Autoland, a national vehicle-buying service provider. Autoland, founded in 1971, is a credit union service organization (CUSO) based in Chatsworth, Calif., that serves more than 200 credit unions nationwide. Founded in 1961, Mission is a […] [Read More]

Hertz Global Holdings announced Thursday that the Federal Trade Commission has issued a final consent order regarding its acquisition of Dollar Thrifty Automotive Group. The acquisition has been in the news for the past year, as Hertz acquired Dollar Thrifty in November 2012, pursuant to an interim agreement and proposed consent order entered into between […] [Read More]

Following the same trend seen this spring, June truck values in the lanes soared over 2012 rates. According to Kelley Blue Book, the average auction value for 1- to 2-year-old mid-size pickups rose 0.3 percent in June from May values. But more significantly, when compared to June 2012, average auction values for used mid-size trucks […] [Read More]

Sonic Automotive went live on Wednesday with its technology strategy to use iPhones, iPads and corresponding apps to boost efficiency throughout the dealer group, especially in the sales and services departments at its franchised dealerships. Sonic president Scott Smith emphasized that iOS devices and in-house apps have helped drive the company’s rapid expansion by streamlining […] [Read More]

The used-car market saw increased interest in a somewhat unusual segment in June, according to the latest Kelley Blue Book Hot Used Car Report: Hybrids. With gas prices holding at relatively steady rates for the month of June, price drops in hybrids are credited for a 4.1 percent growth in shopping activity on KBB.com, month-over-month. […] [Read More]