DALLAS — Comerica Bank's Auto Affordability Index showed the purchase and financing of an average-priced new vehicle took a little less of median family income during the second quarter. Analysts placed the Q2 level at 22.9 weeks as Comerica indicated that consumers on average spent roughly the same amount on new models in the second […] [Read More]

ONTARIO, Calif. — CU Direct Corp., provider of lending solutions to credit unions through its CUDL, Lending Insights, Lending 360, CUDL Retail and Vero brands, added a new associate director and director to its board of directors. Appointed as a director on the board was Nader Moghaddam, president and chief executive officer of Financial Partners […] [Read More]

Canadian new-vehicle sales climbed more than 6 percent in August and are up close to 7 percent on the year, leading analyst Dennis DesRosiers to call the month, “Great but not spectacular,” in his recent look at the market. Overall, there were 149,301 new units sold in Canada last month, according to data in the […] [Read More]

Thanks to a strong inventory situation and solid engagement from its dealer body, Volkswagen Canada celebrated a record in the certified pre-owned market last month. The company sold 1,342 CPO units in Canada, which was its strongest August on record and more than a 24-percent upswing from August 2011. Luigi Fiorino, manager of used-vehicle sales […] [Read More]

Luxury automakers Mercedes-Benz and Porsche are each celebrating new locations meant to serve Canadian customers. Mercedes-Benz officials gathered to break ground late last week on construction of Langley Mercedes-Benz, a $9.5 million retail facility in the Fraser Valley. The British Columbia dealership will be located on a 3.8-acre site at the corner of Glover Road […] [Read More]

Auto Remarketing’s 2012 CPO Dealer of the Year presented by NCM Associates was officially announced this morning, and receiving this year’s honors is Longo Toyota. The El Monte, Calif., dealership is the third dealership to receive this award. Paragon Honda/Acura was named the inaugural CPO Dealer of the Year in 2010, and Karl Chevrolet claimed […] [Read More]

Much like the story told through July’s scarcity data, the AutoTrader.com analysis of last month's supply trends found that once again, full-size trucks continue to remain scarce. [Read More]

Wholesale prices are staying relatively flat and are expected to inch downward over the course of the current week, according to NADA Used Car Guide. Of all the segments it tracks, large pickups and midsize cars are the only segments that are not expected to fall; they will remain flat this week, NADA UCG predicts. [Read More]

Kelley Blue Book Market Intelligence’s Quick Stats Poll for August uncovered results that aren’t favorable for a franchised dealer’s used-car department or an independent store. KBB said that many consumers now believe that foregoing a new-vehicle purchase and opting for a lightly used-newer model may not always be the wiser or thriftier purchase decision, as […] [Read More]

With 2011 model-year units recently added to its data set, Black Book has provided used-vehicle value information on these two-year-old units and broke down which segments' prices have climbed the most. The firm compared the current values of 2011 model-year units to the current values of 2010 model-year units for each of its 10 car […] [Read More]