The effects of the March 2011 earthquake and tsunami in Japan on the auto industry are well documented, along with a plummet in Japanese automaker loyalty rankings. Now, according to Experian Automotive, Toyota and Honda are rebounding, as each OEM saw strong comebacks in corporate loyalty in first quarter 2012 Toyota finished third in overall […] [Read More]

Reporting second-quarter earnings this morning, Asbury Automotive Group pulled up used retail sales by 6 percent and increased overall used revenue by 7 percent. This was part of a period when Asbury hit its best-ever quarter earnings per share from continuing operations ($0.69), while increasing net income from $14.2 million to $21.1 million on a […] [Read More]

Digital Recognition Network surpassed an industry milestone this week with one of its service partners — nationwide repossession and skip-tracing firm American Recovery Service. The companies joined forces to exceed 25,000 recoveries; a figure officials said was enabled by DRN’s LPR2.0 platform for some of the nation’s leading automotive finance companies that utilize ARS’ comprehensive […] [Read More]

The U.S. House of Representatives passed a bill Monday that removes what sponsors call an obsolete federal mandate requiring the distribution of a booklet reporting motor vehicle insurance costs, a measure fervently supported by the National Automobile Dealers Association. NADA says the bipartisan legislation, introduced by U.S. Reps. Gregg Harper (R-Miss.) and Bill Owens (D-N.Y.), […] [Read More]

Businesses and communities alike are coming to the aid of victims in one of the most deadliest shootings in American history. And among this group reaching out to those affected by last week’s tragedy in Aurora, Colo. is a local dealer. Bozarth Auto Dealerships announced today that it has started a fund to help assist […] [Read More]

Sonic Automotive generated the largest used-vehicle retail volume in company history during the second quarter as the company’s dealerships turned 27,528 units, up from 26,799 units in the year-ago span. The volume jump helped Sonic to post a 4-percent gain in used-vehicle revenue, according to the company’s financial statement released on Monday. Sonic’s second-quarter earnings […] [Read More]

Auto Remarketing has learned who will succeed R. Charles Nichols as ServNet president in 2014. Nichols announced that his successor will be Patty Stanley, who has been elected to serve as vice president of the company’s board of directors. Stanley and her husband, Henry Stanley, are the owners of two ServNet auctions: Carolina Auto Auction […] [Read More]

Finding enough supply. It’s a challenge that has been spotted on almost every level of the certified pre-owned business. And it’s causing dealers to change the way they look for CPO-worthy cars. In discussing the CPO market, Hendrick Automotive Group chairman Rick Hendrick told Auto Remarketing on Monday that dealers are oftenturning to the existing […] [Read More]

Black Book found that the last week’s average wholesale price declines for both cars and trucks established new highs for the calendar year. Managing editor Ricky Beggs revealed that car prices tumbled by $63 last week while truck prices sunk by $78.  Beggs said during his weekly online video analysis, “Beggs on the Used Car […] [Read More]

If the results of AutoMD.com’s latest survey are any indication, gone are the days when consumers held onto a car for a couple of years before succumbing to the new-vehicle itch once again. It seems shoppers are holding on to their rides longer and longer, as the average age of a vehicle on the road […] [Read More]