Penske Automotive Group revealed today that it has acquired Savage BMW/MINI of Ontario, stores located in Ontario, Calif. Officials highlighted that Savage BMW/MINI of Ontario is ranked in the top 25 percent of BMW dealerships in the United States based on new-unit volume. Penske believes the acquired dealerships are expected to contribute approximately $125 million […] [Read More]

Wholesale prices are looking quite similar to the market dealers experienced last year at this time, according to the latest  "Beggs on the Used Car Market" video report. And most car and truck segments all saw mild declines. First, the car segments saw an average decline of $70 in the lanes last week, reported Ricky […] [Read More]

With the National Remarketing Conference starting in about five weeks, time is running out to register and book hotel rooms for the event, which will feature dynamic conversations with some of the industry’s leading executives. One such panel conversation will take place during the final session on the second day of the conference, Nov. 15. [Read More]

For the wholesale market in September, the name of the game was stability. Not only were the month’s used-car prices essentially static from August, the year-over-year decline slowed “considerably,” said ADESA’s Tom Kontos. Overall, the average wholesale price during September was $9,550, according to the latest report from ADESA Analytical Services. This marks a 0.3-percent […] [Read More]

As the Federal Reserve discovered total consumer borrowing — including auto loans — accelerated by 8 percent in August, Fitch Ratings cautioned that industry enthusiasm should be tempered, as meaningful near-term risk remains as long as the U.S. fiscal cliff remains unresolved. Fitch highlighted that improving consumer confidence, pent-up demand and widespread availability of financing […] [Read More]

American Honda has issued a voluntary recall of some 268,000 CR-V vehicles in the U.S., due to a potentially faulty power-window master switch that has caused at least four vehicle fires. The recall affects CR-V vehicles of model years 2002-2006, for inspection and repair or replacement of the switch. In a corporate statement, Honda said, […] [Read More]

Improved marketing resources — in not one but two languages — is the goal of Strategic Marketing Alliance in announcing a new satellite office to open this quarter. SMA Alliance Inc. announced on Monday that it will open a satellite office in Tampa, Fla., in the fourth quarter of 2012, to focus on the company’s […] [Read More]

After sharing where the Manheim Used Vehicle Value Index settled for September, chief economist Tom Webb explained what he called a “continued healthy market realignment,” which produced the steepest quarterly wholesale price drop since the close of 2008. During his quarterly conference call last Friday, Webb indicated that Manheim’s data showed wholesale prices softened by […] [Read More]

Have you ever wondered how a customer feels when they walk into your dealership? For dealers who are curious just how “customer-centric” they really are, Women-Drivers.com revealed an interactive quiz that enables dealers to evaluate just how shopper friendly their store is and where they have room for improvement.   [Read More]

Manheim has announced the launch of a mobile application that gives dealers the ability to create listings straight from their lots. Dealers can tap into myMobileListing from their iPhone or iPad device, and use the app to list vehicles in the Manheim marketplace and disclose vehicle condition information. Through the app, dealers can also post […] [Read More]