Both retail and wholesale gains as well as strengthening performance of its finance division all combined to push CarMax’s fiscal year net earnings higher by 10 percent, according to the company’s financial report released late last week. CarMax’s fiscal year 2012 net earnings came in at $413.8 million or $1.79 per diluted share, up 10 […] [Read More]

The National Independent Automobile Dealers Association announced last week that it has chosen an administrator for its all-new NIADA Certified Pre-Owned Vehicle Program. Tapped for the role was  Warrantech, an AmTrust Financial Services company. Warrantech, a provider of extended service contracts for the automotive industry will “administer the plan, handle and address all post-sale customer needs, […] [Read More]

Though there has been much discussion regarding whether new national gas-mileage and emissions standards will help or hurt the automotive industry, a new report contends that automakers are set to make “billions more dollars in profits.” [Read More]

American Auto Auction Group recently rolled out its 14th location, broadening its footprint in Florida. AAAG’s newest auction property is Your Auction of Pasco located in Holiday, Fla.  The new facility held its first sale on March 13 and will conduct weekly auctions on Tuesdays at 4 p.m. ET. AAAG founding member, director and chief […] [Read More]

Since Twitter sees domestic automakers utilizing the social media platform more, the company recently opened an office in the Motor City. Twitter spokesman Robert Weeks said the company will have a “handful” of employees in Detroit, according to a report from Reuters. Weeks indicated these employees’ efforts will be aimed at working with brands from […] [Read More]

It was announced late last week that personalized radio service Pandora has a couple new partnerships with OEMs. First, the company revealed at the New York International Auto Show that it has added Nissan as the latest automaker to offer in-car availability of Pandora. And the new service will be featured in the 2013 Altima […] [Read More]

MATTHEWS, N.C. — Ace Motor Acceptance Corp. recently expanded its relationship with Comprehensive Auto Resources Co. to strengthen its BHPH In A Box program. Officials highlighted that CARco joins AUL (service contracts), AutoMaster (dealer management system software) and PassTime (GPS tracking) to boost AMAC's offering for buy-here, pay-here dealers. AMAC explained it has been working closely […] [Read More]

WASHINGTON, D.C. — While the Federal Reserve still hasn't resumed its regular reporting on averages for new-vehicle loans by finance companies, officials late last week did post the latest average by commercial banks. The Fed indicated the average interest rate on a 48-month, new-vehicle loan from a commercial bank came in at 5.07 percent in […] [Read More]

ALEXANDRIA, Va.— As the first quarter of 2012 comes to an end, the bankruptcy filing rate for the period reflect a recovering economy and cautious consumers. The American Bankruptcy Institute reported a 12-percent dip in bankruptcy filings since the same period of 2011, while commercial filings dropped a significant 19 percent. “With the economic recovery […] [Read More]

GAINESVILLE, Ga. — Just a couple of months after Black Book brought in Jeff Bunch to be its director of automotive licensing, the firm promoted the industry veteran to a new position. Black Book announced Bunch has been elevated to vice president of lender solutions. In this role, Bunch will be responsible for leading Black […] [Read More]