CNW Research said August used-vehicle sales slipped 3.3 percent versus the same month a year ago, but the drop had nothing to do with activity at franchised or independent dealerships. So what triggered the August drop? CNW president Art Spinella attributed the decline to a softer private-party market, which tumbled down more than 18 percent […] [Read More]

Mazda recently moved its head of certified pre-owned and remarketing to a new position overseeing all retail marketing and incentives for the company and is now looking to fill his spot. Eric Watson, who was group manager of remarketing and CPO for Mazda North American Operations, officially began his tenure as the company’s group manager […] [Read More]

The “virtual freeze” in dealership merger and acquisition activity in the preceding three years has thawed in dramatic fashion during 2011, according to the automotive wing of The Presidio Group financial services firm. Presidio’s report says it is an ideal time to buy dealerships — which are currently enjoying record per-store profits and healthier sales — and […] [Read More]

In a departure from what is typical for the Labor Day holiday at dealerships, Kelley Blue Book believes that leasing incentives and low APR finance deals may be the name of the game this weekend instead of the usual cash rebates that automakers pile on this time of year. Ordinarily, automakers use Labor Day weekend […] [Read More]

Contained within its latest update to the Securities and Exchange Commission, CarMax shared details of a new unsecured revolving credit facility with Bank of America. Officials said CarMax, CarMax Auto Superstores and certain other subsidiaries of the company terminated the previous credit agreement with Bank of America, the lender and administrative agent. The event came […] [Read More]

CarWoo discovered this week that site data showed the rigor of negotiation appears to be lessening as new-vehicle prices begin to return to first quarter levels after peaking in July. Back in March, the site indicated online new-vehicle buyers were making their purchase decisions in just a little more than one day. By July, as […] [Read More]

It was announced this week that through the organization’s Hope Grants, Hyundai Hope On Wheels — Hyundai Motor America and its dealers’ nonprofit dedicated to raising awareness about childhood cancer —  will be donating $7.1 million to fund 71 pediatric cancer research projects and programs at Children’s Oncology Group institutions throughout the country. [Read More]

Two technology companies are aiming to harness the capability of radio frequency identification tags to help auctions track vehicles more efficiently before and after going through the lanes. Alli-Solutions formed in 2007 to help the auction industry meet the challenges of using RFID technology. “We wanted to know where vehicles are, where they’ve been and […] [Read More]

Though Hurricane Irene’s negative impact on car-shopping activity and other downward factors may have led to August being a “lost month for vehicle sales,” September has the potential to show a significant lift, according to J.D. Power and Associates. [Read More]

Dealers who use Google Android smartphones now can access Manheim’s suite of digital products and services like their counterparts who have iPhones. Manheim officials explained Wednesday that now Android device users can scan vehicle identification numbers, view the vehicle summary page, view Manheim Market Report (MMR) results, search for vehicles by inventory or location, place […] [Read More]