Though retail interest in trucks continues to rise with growth in construction and housing development, auction prices for these vehicles took a downward turn last week after showing price strength through much of the spring. Black Book’s Ricky Beggs explained that all 14 truck segments experienced price declines last week, with the smallest decline being […] [Read More]

For dealers who have parents in their showroom looking for a used vehicle for that new young driver in the household that’s safe, reliable and cheap to run, CarInsurance.com created a list of 14 models that fit the mold. To land on the list titled, “Best Cars for Teens,” the site examined four-year-old models retailing […] [Read More]

In the last couple of articles, we talked about getting Gen X and Y consumers to pull the trigger — visiting your lot and buying a vehicle. In this chapter, we’ll delve a little deeper into the science of winning these consumers online. As we’ve already covered, the Internet has fundamentally altered the way younger […] [Read More]

AutoTraderClassics.com, an online marketplace for classic car enthusiasts, is offering consumers a new sweepstakes which gives participants the opportunity to win a "Dream Car Tour" and more. The site will be giving the winner a check for $5,000 and the Dream Car Tour, offered by Gotham Dream Cars. The company explained the tour includes a […] [Read More]

Donating $20 for each new-car sale and $1 from every oil change can add up to help families in need, says one Oklahoma dealership. Hudiburg Chevrolet and Ally Financial have announced a community challenge for the month of July, to raise money for Operation Homefront Oklahoma, an organization that provides emergency financial assistance to military […] [Read More]

After holding an open house for dealers and a soft opening sale last month, the latest addition to the McConkey Auction Group is set to host its grand opening sale this week. The event at DAA Seattle, located in Auburn, Wash., is set for Tuesday. The auction hosted an open house for dealers back on […] [Read More]

Dealers may see more customers on the lots looking for pre-owned cars as the month draws to a close. That is, once consumers realize that late-model used-car prices showed the biggest month-over-month drop of the year to date in June, according to Cars.com. In fact, a post from the site's Kicking Tires blog indicated that […] [Read More]

Two auto industry leaders who have close relationships with Rick Hackett, the assistant director of the Consumer Financial Protection Bureau whose jurisdiction included vehicle financing, shared nothing but glowing assessments of the regulator who announced he was leaving the agency by the end of the month. FinCo Management president Toby Reiley used words like "humble" […] [Read More]

Group 1 Automotive completed a $1.7 billion five-year revolving syndicated credit facility with 25 financial institutions last week. The dealer group indicated the facility will expire in June 2018 and can be expanded to $1.95 billion in total availability. Executives highlighted the revolving facility will provide $1.38 billion for inventory floorplan financing.  They noted the […] [Read More]

Video email services company Covideo revealed this week an update to its mobile app that will allow dealerships and other businesses connect to with customers through text messages in a new way. The update will allow Covideos to be sent as text messages, in addition to emails. Larry Dorfman, chairman and chief executive officer of […] [Read More]