The recent surge in wholesale prices apparently isn’t over, but the near future is likely to see an extended slowdown in values, according to the RVI Group. Following what the firm believes will end up being a 14.1-percent year-over-year increase in the RVI Used Car Price Index for full-year 2011, wholesale prices are projected to […] [Read More]

Taking the results of a recent survey of 6,000 active users of AutoIMS’ inventory management system into account, the company revealed Wednesday its plans to offer mobile applications on the Android platform, set to release mid-fall, as well as increased functionality for popular mobile Web browsers. The survey revealed that Android — which will be […] [Read More]

CarGurus has rolled out a new version of its DealFinder shopping tool that has been enhanced to include ratings of dealerships by users. As most likely know, DealFinder takes available car listings and ranks them based on which ones offer the best deals. Since user ratings of dealerships have been integrated into the search algorithm, […] [Read More]

WASHINGTON, D.C. — The Federal Reserve still hasn't restarted its monthly look at trends associated with new-vehicle loans generated by finance companies, but officials did offer August data about contracts from commercial banks. The Fed determined the average interest rate on a 48-month, new-vehicle loan from a commercial bank came in at 5.94 percent. On […] [Read More]

LAFAYETTE, Ind. — For a subprime dealer, going to auction can be particularly challenging. Not only does he need to meet his inventory needs, but the vehicles he buys also must fall within specific lender requirements. For instance, Shawn Foster, president and owner of dealership Car Nation in Lafayette, Ind., generally deals with older, higher mileage […] [Read More]

COLUMBUS, Ohio — On Wednesday, Huntington announced it is expanding its auto dealer financing business into two new states, including Wisconsin and Minnesota. Huntington will begin processing applications through dealers by Oct. 24. The company expects to provide financing solutions to more than 400 dealers throughout the two states. Officials stressed they've hired a seasoned team […] [Read More]

MINNETONKA, Minn. — Buy-here, pay-here dealership chain CarHop announced Wednesday it has hired a new vice president of sales and operations. Tapped for the position is Mike Anderson, who will lead the sales and store operations for all CarHop locations. The company noted that Anderson joins CarHop after spending 21 years with Enterprise Rent-A-Car, where […] [Read More]

Cherokee Automotive Group announced that early registration for the 2011 CPO Forum, as well as the other two Used Car Week Conferences, the National Remarketing Conference and the Re3 Conference, will be ending Oct. 14. “If you are planning to attend any or all of the 2011 Used Car Week Conferences, now is the time […] [Read More]

Group 1 Automotive’s dealership network has recently grown by four stores, as the company announced Tuesday it acquired a General Motors store in Houston to go along with three dealership openings throughout Texas and California. Group 1 bought David Taylor Cadillac Buick GMC in Houston and is rolling out a new Volkswagen store in the […] [Read More]

Free recommendations on best dealership practices from Carfax, DealerTrack and OPENLANE prompted close to 400 store managers and salespeople to register for the last Auto Remarketing Training Series Webinar of the year. Dealers who might have missed Tuesday’s session still can get all of the information shared by three of the used-vehicle industry’s top dealer […] [Read More]