As May came to close, new- and used-car sales predictions for the month flowed in. Most all of the reports showed positive year-over-year and monthly growth, with automakers expected to see double-digit sales increases right and left. Edmunds.com predicts that an estimated 3.14 million used cars will be sold in May, for a SAAR of […] [Read More]

Copart announced more than just the third-quarter financial performance of its current fiscal year as the company also said late last week that it acquired Salvage Parent, which conducts business primarily as Quad City Salvage Auction, Crashed Toys and Desert View Auto Auction. The move is leaving Copart management with the task of how to […] [Read More]

Kelley Blue Book reported last week that used auction values reached a three-year low in May and also highlighted a few interesting trends within the segments, some based on seasonality with high incentives playing a role, as well. First up, highline vehicles retained a bit of price strength in the lanes this past month. Auction […] [Read More]

Manheim chief economist Tom Webb gave some examples of retail sectors that might give a  “true sense of the psyche of many used-vehicle buyers.” So what kinds of business should dealers watch besides traffic to their own stores? Webb recommended that managers concentrate on specific businesses and retail sectors, most notably Walmart, dollar stores and […] [Read More]

With “ups” not arriving on the physical lot as much as they previously did, Paul Potratz recommended that dealers get a better handle on how many unique visitors come to the store’s website and how many are converted into leads. The chief operating officer and founder of Potratz Partners Advertising shared advice in an online […] [Read More]

Dealership service departments are a crucial aspect of customer retention and loyalty and they also serve as a key area for potential trade-ins to flow in. In other words, dealership technicians need to be on top of their game.  For General Motors dealers, the GM Technical Assistance Center handles thousands of calls from dealership technicians […] [Read More]

RALEIGH, N.C. — FNI president David Bafumo recently studied what he believes are the three most important sections relevant to auto finance companies and dealers from the examination manual issued by the Consumer Financial Protection Bureau. Bafumo dissected more than 900 pages and drilled deeper into the three segments that focus on unfair, deceptive or […] [Read More]

ATLANTA — Manheim chief economist Tom Webb gave some examples of retail sectors that might give a "true sense of the psyche of many used-vehicle buyers." So what kinds of businesses should dealers and finance companies watch besides traffic to their own stores? Webb recommended that managers concentrate on specific businesses and retail sectors, most […] [Read More]

DEARBORN, Mich. — Captive finance companies, OEMs and more have the victims of the recent Oklahoma tornadoes top of mind, donating money for relief efforts and deferring payments for customers in the storms' paths. Ford Motor Credit and Lincoln Automotive Financial Services are offering customers affected by the recent tornado and other storm damage the […] [Read More]

SOUTHFIELD, Mich. — Fidelis PPM and Provider Exchange Network (PEN), a division of Open Dealer Exchange, recently completed integration to offer dealers the ability to rate and contract for Fidelis F&I products directly through leading finance desking software for dealers. Officials highlighted the connectivity to PEN can enable F&I aftermarket product e-contracting directly from the […] [Read More]