Dealers are used to seeing an uptick in auction prices come spring, but this year, prices stayed relatively flat. Why? Kelley Blue Book’s Alec Gutierrez said this flatness can be attributed to “mild fuel prices and increased supply.” In fact, wholesale values increased only 2 percent in the first quarter, said Gutierrez, who is the […] [Read More]

General Motors announced on Monday that it is recalling 38,197 Chevrolet Malibu Eco and Buick LaCrosse and Regal sedans from the 2012 and 2013 model-years sold in the United States and equipped with eAssist to screen the generator control module for proper operation. The automaker said some of these vehicles may have a condition in […] [Read More]

A possible catalyst for the off-rental wholesale churn, Hertz Corp. and AAA expanded their ongoing exclusive partnership to provide both Dollar Rent A Car and Thrifty Car Rental rentals to AAA's more than 53 million members. As part of the agreement, officials highlighted AAA members will now receive a discount on value brands Dollar and […] [Read More]

CarMax founder Rick Sharp was honored this week for his leadership to the company, and an educational endowment has been created in his honor. Nearly 20 years after CarMax opened its doors at the first store in Richmond, Va., a store dedication ceremony held Monday honored Sharp, its retired board chairman. The ceremony included the […] [Read More]

BSC America recently announced that its Bel Air Auto Auction has opened a new marshalling facility in Belcamp, Md., which is 11 miles from the auction’s main campus. The marshalling facility includes 14 paved and fenced acres and features three offices and five bays. It can accommodate 2,500 vehicles. [Read More]

Already drawing praise from top-ranking large dealer group leadership, Cadillac today announced enhancements to its certified pre-owned vehicle program, including higher levels of warranty coverage and benefits for owners and shoppers. Effective today, General Motors said Cadillac’s certified pre-owned vehicles will extend coverage to match the new vehicle bumper-to-bumper warranty for up to six years […] [Read More]

Gas and wholesale pre-owned prices are falling as car buying season gets underway — a winning combination for dealers. And as the weather continues to warm as we approach summer, Kelly Blue Book’s manager of market intelligence and market analyst Arthur Henry said its “a good time to be a car enthusiast.” In fact, on […] [Read More]

Why should a dealer read this? Recent events in North Carolina concerning retail dealers going out of trust with their floor plan providers should remind dealers that there is a severe limit on secure methods of wholesaling a vehicle to another dealer. With very few exceptions, in wholesale transactions, the State of North Carolina will […] [Read More]

Provider of vehicle leasing and fleet management solutions LeasePlace USA announced last week it has been named a No. 1 workplace by the Atlanta Journal-Constitution. This is the second time the Atlanta-based company has received this award in the mid-size company category. “Being recognized as the number one mid-size company, exemplifies the passion, expertise, respect […] [Read More]

When company leadership highlighted its first-quarter performance last week, Ally Financial discussed its objectives for continuing to work with Chrysler franchised dealers even though its exclusive agreement with the automaker expired on Tuesday. Ally Financial president Bill Muir acknowledged one of the biggest changes will be that the company no longer will arrange subvented leases […] [Read More]