Even though wholesale prices are almost 5 percent lower than they were this time last year, May’s price slide was much smaller than any of the previous four months. What’s behind the change? According to Manheim chief economist Tom Webb, new- and used-vehicle price ratios are returning to more normal levels. Consequently, Webb explained, the pricing […] [Read More]

Here’s just one nugget of good news from the Federal Reserve’s latest Beige Book report that dealers might find encouraging for their used-car operations. Among the districts where contacts commented on used-car supply, there were some signs of progress. In the Richmond District, for one, the Fed said dealers indicated there have been more used […] [Read More]

Four U.S. dealerships have been sold by Group 1 Automotive, the company announced on Friday. In three separate transactions over the past three weeks, Group 1 Automotive said it has disposed of Miller Honda and Miller Toyota in Culver City, Calif.; World Ford in Stone Mountain, Ga.; and Messer Mazda in Amarillo, Texas.  In addition […] [Read More]

With the Consumer Financial Protection Bureau recently directing a round of guidance towards the auto industry, discussion about the potential changes within dealer finance and other compliance issues have been on the minds of many. Amid such an environment, the upcoming 48th annual Center for Automotive Research Management and Briefing Seminars will focus on bringing […] [Read More]

The results of a new partnership announced by CarMax won’t be seen on the lots. Instead, the launch of a $4.1 million national partnership between The CarMax Foundation and national nonprofit KaBOOM will build playgrounds. CarMax late last week said the project will result in 30 playgrounds across the U.S. by the end of 2015, […] [Read More]

IRVINE, Calif. — Spireon, makers of the GoldStar GPS solution intended to help dealers and auto finance companies keep closer tabs on vehicles, announced a major management change today, revealing the transition to a new chief executive officer. The company indicated the change of CEO from Brian Boling to Marc Brungger takes effect today on […] [Read More]

ENGLEWOOD, Colo. — IHS Inc. entered a definitive agreement to buy Carfax parent company R.L. Polk & Co., in a $1.4 billion transaction. Officials said as a part of today's announcement that the deal must first go through customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements […] [Read More]

FARMINGTON HILLS, Mich. — Now operating in 19 states, Atlanta-based Global Lending Services became integrated with RouteOne last week. Officials explained that dealers with a relationship with GLS — a subprime lending company that provides financing to both franchised and independent stores — can now process credit applications electronically through the RouteOne platform. "Our dealers […] [Read More]

BENTONVILLE, Ark. — America's Car-Mart began the process of adding 12 more stores to its buy-here, pay-here dealership network during its current fiscal year by recently opening its 125th location. The newest lot is located in Grove, Okla., raising Car-Mart's footprint in Oklahoma to 22 stores. Car-Mart indicated the Grove dealership will be managed by […] [Read More]

For the first time, two upcoming Auctions America sales will be seen live by television viewers, and will be broadcast live to digital platforms. Collector car auction house Auctions America this week announced exclusive live TV coverage of its upcoming California and Auburn fall auctions on NBC Sports Network, and live streaming coverage via NBC […] [Read More]