Volvo Canada revealed this week a newly appointed chief financial officer. Chosen for the position of CFO is Matt Girgis, who will take on the role this coming Monday. The company explained that Girgis has extensive experience from past positions at BMW Group and previously Volvo Canada, where he held various roles within the finance […] [Read More]

Just when the industry got closely acquainted with the primary regulator from the Consumer Financial Protection Bureau who oversees auto financing, word comes that the official is departing the agency. Auto Remarketing received confirmation Wednesday that assistant director Rick Hackett intends to leave the bureau by the end of the month. The CFPB already has […] [Read More]

As overall auction prices are expected to drop this week, large pickups are once again, proving to be an outlier. In fact, as used-vehicle prices are expected to drop by an average of .2 percent, or $25, relative to the two-week average, large pickups should rise by .8 percent, or $175, according to AuctionNet data […] [Read More]

Fitch Ratings explored the potential ramifications on used-vehicle values and the impact on recoveries as the auto leasing origination market soars, reportedly spiking by as much as 248 percent in May alone. Fitch contends that continued competition from new-vehicle sales and increasing wholesale market supply will maintain recent pressure on used-vehicle values and have some […] [Read More]

Most problems new-car buyers report in the first 90 days of vehicle ownership deal with design, according to J.D. Power and Associates, which said these types of issues are significantly harder to fix when the consumer comes into the dealership than defect-related issues.  But in a silver lining, one piece of the J.D. Power 2013 […] [Read More]

There are thousands of miles between the Keyes Automotive Group in Van Nuys, Calif., and the Serra Automotive Group in Birmingham, Ala.  But the one thing these two dealership groups have in common — and 123 other dealership groups from Maine to Malibu — was their membership in last year’s Auto Remarketing feature “The Top […] [Read More]

RoadDealer.com, an online platform that looks to help dealerships buy, sell and trade aged and wholesale vehicles between other stores, formed two new partnerships recently. RoadDealer.com is now the exclusive auction alternative partner for the Chicago Auto Trade Association and the Auto Dealers Association of Mega Milwaukee. Through its members-only website, RoadDealer.com’s database of inventory […] [Read More]

NCM Associates has brought in two additional associations to serve its retail auto clients. NCM announced Wednesday that it has hired Lee Michaelson and Robert Crocker, which join NCM’s Retail Operations Consulting division under Paul Stowe’s direction. The company said Michaelson and Crocker each have significant retail automotive management experience and will help NCM in […] [Read More]

Consumers won’t be the only ones helped by Chrysler’s announcement Tuesday that it will recall certain Jeep models after coming to terms with National Highway Traffic Safety Administration. According to Kelley Blue Book senior analyst Alec Gutierrez, the automaker was likely spared declines in the used values of these vehicles as well as sales damage. […] [Read More]

Auction volume for May was up more than 10 percent against comparable weeks of 2012, and year-to-date, the upswing has eclipsed 3 percent. That’s according to the latest Economic Dashboard prepared by National Auto Auction Association economist Ira Silver. Specifically, volume for the month climbed 10.3 percent year-over-year, with the year-to-date increase at 3.1 percent. […] [Read More]