LAKE SUCCESS, N.Y. — Dealertrack Technologies recently hit a new milestone with the number of active lenders connected to its Dealertrack Credit Application Network. Officials indicated the level now exceeds 1,300 lenders. The Dealertrack Credit Application Network, which has grown from five lenders in 2001 to more than 1,300 lenders today, can allow dealers to […] [Read More]

As weather warmed, buyer interest for used vehicles on KBB.com focused in on Japanese automakers, with Honda and Toyota making up four of the top five most researched pre-owned vehicles on the site. Taking the No. 1 spot was the popular Honda Civic, followed by the Honda Accord and Toyota Camry, respectively. In the No. […] [Read More]

With just a couple days of May gone by, it’s already looking like April was another whale of a month for certified pre-owned sales. Several brands have reported monthly CPO figures to Auto Remarketing, with a few hitting records. For instance, Volkswagen had its strongest April ever, selling 8,237 CPO units for a 10.3-percent upswing. […] [Read More]

More than six months after Superstorm Sandy hit, KAR Auction Services chief executive officer Jim Hallett said the company is closer to purging its system and balance sheet of thousands of damaged vehicles. During Thursday’s conference call with investment analysts, Hallett reiterated what the company reported in its first-quarter financial statement — the backlog of […] [Read More]

Car-buying season: May through September. What will it bring for used dealers? On Thursday, Carfax reported that it is expecting 22.1 million used-car sales over the next few months. Interestingly, the company explained that history shows that more than half of all used cars sold this year will be bought in the next five months. [Read More]

In the first quarter, Group 1 Automotive pushed its consolidated used-vehicle retail revenue up by a double-digit percentage as retail used unit sales climbed 12 percent. The retailer released first-quarter financial results on Thursday; within its consolidated results (which include the U.S and international operations), used retail revenue came in at $471.4 million, a 13.6-percent […] [Read More]

Ally Financial this week announced its presentation of funds to a charity selected by this year’s TIME Dealer of the Year. After naming Michael Alford of Marine Chevrolet Cadillac the winner of the 2013 award earlier this year, Ally executives were in North Carolina this week to present a $10,000 grant to Alford’s chosen charity, […] [Read More]

Auction Export, an Internet company specializing in the purchase and export of vehicles from the United States and Canada to buyers around the world and a marketing alliance partner of Insurance Auto Auctions, rolled out a new Web tool on Thursday. Officials introduced GOLIVE, what they described as a unique Web tool that can enable […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE NEW YORK — When company leadership highlighted its first-quarter performance earlier this 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 […] [Read More]

WASHINGTON, D.C. — Extended warranties and other products appear to be the next regulatory target in the F&I office, according to a report by the Wall Street Journal. The report indicated officials familiar with a Consumer Financial Protection Bureau investigation said the agency recently issued subpoenas to U.S. auto lenders over the sale of extended […] [Read More]