WASHINGTON, D.C. — In what the compliance counsel from Dealertrack Technologies cautioned might be coming, an online report earlier this week said the Consumer Financial Protection Bureau has told at least four banks that it may sue them over vehicle loans and interest-rate markups by dealers that appear discriminatory, according to three people familiar with […] [Read More]

MEDFORD, Ore. — Of the finance deals Lithia Motors facilitated during the fourth quarter, 13 percent of those contracts went to subprime buyers: a level company officials said was consistent with a year earlier. But Lithia is looking for more because the absolute number of contracts originated for subprime customers during the fourth quarter increased […] [Read More]

Find out what’s in store for the 2013 Auto Remarketing Canada Conference presented by CarProof. Event organizers have revealed the updated two-day agenda for the event as well as the most recently updated speakers. [Read More]

Auction prices are still slowing inching up – a trend NADA Used Car Guide said it expects to continue through March as spring approaches. Overall, much like last week, NADA anticipates used-vehicle prices will continue to improve by 0.2 percent, or $25, relative to the prior week. "Across segments, expected changes are predominantly positive, with […] [Read More]

Sonic Automotive finished rolling out its Sonic Inventory Management System this month and believes that once the company is fully acclimated to using the centralized inventory management tool, monthly per-store used unit sales can eclipse 100, eventually beating the 150 mark. [Read More]

Late Wednesday, KAR Auction Services reported its fourth-quarter and full-year financial results, performances that included a 27-percent increase in net income. The company arrived at that 2012 net income level thanks to a revenue increase of 4 percent year-over-year. KAR indicated its full-year revenue came in at $1.96 billion, up from the 2011 total of […] [Read More]

As the company closed the year with the highest fourth quarter adjusted net income in company history, Lithia Motors watched its used-vehicle division continue to work toward the goal of turning 75 units per store monthly. On Wednesday, Lithia reported that its stores moved an average of 46 used units per month during the fourth […] [Read More]

In what was a strong year for the retailer’s pre-owned department, Sonic Automotive increased its used-vehicle retail sales by more than 6 percent for both full-year 2012 and the final quarter of the year. Specifically, Sonic moved 23,943 used retail units in the fourth quarter, compared to 22,520 in the final period of 2011. For […] [Read More]

Facing increased demand and with a goal of boosting its conservation efforts, one Manheim site has announced the completion of a year-long project to significantly expand its body shop. Revealed this week by Manheim Palm Beach is the culmination of a 12-month project designed to raise its body work capacity to meet increasing demand, and […] [Read More]

For the third year in a row, the Luther Family of Dealerships is looking to feed a whopping 1 million people through its annual Drive to Serve event. The dealership group is teaming up with the Emergency Foodshelf Network and Stop Hunger Now to bring together 3,500 employees, customers, kids and families to package one […] [Read More]