PHOENIX — Despite a 20.7-percent increase in total revenue and an 18.3-percent jump in unit sales, DriveTime Automotive Group explained why its gross margins still softened during the second quarter. According to reports filed with the Securities and Exchange Commission, DriveTime's revenue came in at $364.8 million, and the company's 104 dealerships turned 17,357 vehicles. […] [Read More]

BANDON, Ore. — Based on the first 15 days of the month, CNW Research is projecting that August will be a "solid" month for used-vehicle sales. The combination of retail metal turning at franchised and independent dealerships as well as private-party transactions should push this month's total at least 3 percent higher versus year ago […] [Read More]

WASHINGTON, D.C. — The American Financial Services Association recently sent a letter to the commissioner of the New York State Department of Motor Vehicles on its proposed regulations implementing A. 1346-C. AFSA explained the law, enacted in December of last year, authorizes the DMV to issue a lien-free certificate of title upon proof by a […] [Read More]

TORRANCE, Calif. — Toyota Financial Services recently recognized 100 high school students who overcame considerable hardships on their paths to college, presenting them with $1 million in scholarships. Officials highlighted this is the first year in which TFS expanded its Making Life Easier scholarship program to $1 million. The program provides scholarships to underserved students […] [Read More]

Here’s some good news if you’re a dealerwho sells certain Ford Fusions or Honda Accords. The 2013 model-year editions of these vehicles have not only been “winners” on the new-car sales and market-share growth fronts, but they’ve also retained more value on the used-car side than any other cars in their segment. That’s according to […] [Read More]

Two separate purchases involving players connected to the repossession, recovery and remarketing-related fields were announced on Thursday. Starting out with news from the Indianapolis area, ADESA announced that its PAR North America subsidiary bought Fontana, Calif.-based Auto Depot Remarketing. ADR works with various credit unions, regional banks and finance companies, and with this deal, PAR […] [Read More]

Does the date Aug. 19 mean anything to you? For auction owners, staff, and more, this date marks the launch of the National Auto Auction Week. National Auto Auction Association president Paul Lips has designated next week to celebrate the auction industry’s rich history and increase the public’s awareness of the industry and its contributions […] [Read More]

The best car on the market? The answer is probably different for most people. But Edmunds.com has put together a list that could help dealers point out some of the best picks on the market these days to potential customers. The site revealed Thursday a list of what its editors see as the 17 best […] [Read More]

U.S. and Canadian officials indicated that Hyundai and Kia are recalling a total of 325,000 vehicles to fix corroded suspensions and failing axle shafts. The largest of the campaigns is in the U.S. and covers approximately 215,000 Sonata midsize sedans from the 2006 to 2010 model years and about 24,000 Azera full-size sedans from 2006 […] [Read More]

AutoPacific has announced the 2013 Ideal Vehicle Awards, based on surveys from more than 52,000 new-car owners on their satisfaction with their vehicles. Who came out on top? Well, Porsche is the top premium brand (Porsche has also won the IVA for sports cars in seven of the past eight years), while the top-scoring popular […] [Read More]