Taking note of the Eastern country’s growing used-car market, Kelley Blue Book revealed it will be heading East and launching a new Web-based and mobile product in China. KBB announced a joint venture with marketing company Bitauto Holdings Limited and the China Automobile Dealers Association (CADA).  The new product will operate as a Web-based and […] [Read More]

Days after Manheim’s chief economist Tom Webb reported public dealership groups “are growing through acquisitions,” Lithia Motors announced it has bought another Toyota Scion Store. Geweke Toyota Scion in Lodi, Calif., is now part of Lithia’s dealership group, and the store will be named Lodi Toyota Scion. The company said it will add $40 million […] [Read More]

Online salvage vehicle auction company Copart broadened its presence in Canada this week by acquiring a privately held operation. Augmenting its two sites apiece in Alberta and Ontario, Copart acquired Berpa Auto Auction, which is located in Montreal, Quebec. “This is an important acquisition for Copart,” chief executive officer Jayson Adair said. “It provides us […] [Read More]

FORT WORTH, Texas — General Motors Financial is continuing to generate more subprime paper for its parent automaker, keeping the domestic OEM above the industry average during the third quarter. President and chief executive officer Dan Berce indicated the industry average for new-vehicle subprime financing stood at 6.1 percent in Q3, and General Motors exceeded […] [Read More]

ATLANTA — This week, Equifax launched its fourth generation Bankruptcy Navigator Index (BNI) score, what credit bureau officials contend is their most comprehensive and predictive bankruptcy risk score ever. With BNI 4.0, Equifax highlighted lenders can make more confident risk decisions through significantly enhanced insights and predictability into potential consumer bankruptcy. "This is our most […] [Read More]

ATLANTA — Because hammering out an agreeable trade-in value creates negative feelings for potential buyers, AutoTrader.com offered four tips to help dealers ease the pain of the trade-in and increase customer satisfaction. Site officials wanted to create a strategy for stores because they contend satisfaction with the vehicle-buying process decreases significantly once consumers make the […] [Read More]

DALLAS — Louisiana Dealer Services recently implemented VPay, a solution from StoneEagle, which is a provider of Web-based applications and end-to-end insurance administration systems. VPay is designed to provide a more efficient method of paying mechanical breakdown insurance claims to its extensive network of automotive dealer customers and approved repair facilities. "Louisiana Dealer Services has […] [Read More]

Car Nation Canada revealed it is opening its ninth dealership. The new Oakville, Ontario, store will provide potential buyers with over 60 used cars for sale on-site to browse through, as well as online access to Car Nation inventory of more than 600 pre-owned vehicles and 1,000 new cars. The Oakville Used Car Superstore, located […] [Read More]

Certified pre-owned sales remained consistent with trends seen throughout this year as the European OEMs once again recorded increases across the board, and one OEM has already reached above 2012 full-year sales results. At Audi Canada, the company sold 415 CPO units last month, which marks a 17 percent increase over October 2012. Year-to-date, this […] [Read More]

In the October TradeTracker Used Vehicle Market Report, Toyota Corolla topped the list as the most appraised vehicle in Canada. The Corolla was followed by the popular Ford F-150, which holds the title of the most appraised vehicle year-to-date. These reports are provided monthly to Auto Remarketing Canada and are a result of Dealertrack Technologies' […] [Read More]