The beginning of next month will mark the first time that an American has helmed the chief executive role for Toyota Motor Sales USA, as it was announced Wednesday that stepping into that position on April 1 will be Jim Lentz, who is currently the president and chief operating officer at TMS. Lentz’s move was […] [Read More]

In a series of recalls released Wednesday that include both foreign and domestic nameplates, Chrysler announced it will conduct a voluntary safety recall of some 2004–2005 Jeep Liberty models. Officials noted some of the models may experience excessive corrosion on the rear lower control arms. “This could lead to a weakening of the component and […] [Read More]

Car sales have rebounded quite strongly from the downturn in years past, and apparently, ample opportunities for the American auto business remain. Scarborough Research discovered through a recent study that 7 percent of U.S. households are looking to buy a new vehicle in the next year, which would mean 8 million households entering the market. [Read More]

The Iranian nuclear program crisis is leading to surging fuel prices, but it’s going to take a lot more than $4-per-gallon gas for the used-vehicle market to see much of an impact, according to the NADA Used Car Guide. The run-up in fuel costs will likely tap out at this $4 average in May, according […] [Read More]

The first session of 2012 in the free Auto Remarketing Training Series is set to include used-vehicle experts from AutoTrader.com, vAuto and Carfax. Dealers and store managers can join the instructional event that includes question-and-answer sessions beginning at 2 p.m. ET on March 20.  “The challenges in today’s used car marketplace are complex, and they […] [Read More]

Along with his monthly look at the specialty market, Black Book’s Ricky Beggs dove into a subject high on the minds of dealers and consumers alike — gas prices. Trying to get a handle on what fuel prices could do to the wholesale market was among the many subjects Black Book’s editors grappled with last […] [Read More]

The two “forces of graying” detailed by DMEautomotive’s “The Changing Service Loyalty Landscape” white paper could prove to be rather troublesome for car dealerships. One of those “forces” is the trend being spotted at the dealership service center, where it more common now to find consumers ages 50 and up, while the younger crowd is […] [Read More]

Sparked by an alliance with NADA Used Car Guide, Auction Genius revealed Tuesday that more than 100 dealers signed up to use its wholesale market solution during last month’s National Automobile Dealers Association Convention and Expo in Las Vegas. The traction gained at NADA pushed Auction Genius’ roster of dealer clients to more than 275. […] [Read More]

While revealing it has secured a General Services Administration contract, El Paso Independent Auto Auction also highlighted it has entered its second year in operation with an increase in both consignment and key management. Commenting on the new GSA contract that the auction has gained along with sister auction KCI in Kansas City, Lori Pidgeon, […] [Read More]

IRVINE, Calif. — With a significant year-over-year turnaround in fourth-quarter net income and rises in both contracts purchased from dealers and net receivables, Consumer Portfolio Services declared that its fourth quarter "marks our return to profitability." In fact, the company's 2011 net loss was less than half of what CPS sustained in 2010. CPS revealed […] [Read More]