Toyota Motor Sales revealed Wednesday that a pair of its hybrid crossover models are part of a voluntary safety recall in the U.S. The recall of approximately 45,500 Highlander Hybrid and 36,700 Lexus RX 400h vehicles from the 2006 and 2007 model years is connected with the Intelligent Power Module. The company explained the IPM […] [Read More]

CarMax revealed Tuesday the grand prize winner of a social-media contest that promoted its new CarMax EasyShop program, which allows consumers to complete more of the car-shopping processes online before visiting a store. The contest — which lasted four weeks and began in May — encouraged shoppers in the Raleigh-Durham and Fayetteville areas of North […] [Read More]

Donning the cap of a used-vehicle manager for a bit on Tuesday, Edmunds.com pricing manager Richard Arca gave Auto Remarketing some tips on what late-model vehicles will likely be in high demand on dealer lots this 4th of July weekend. He recommends that dealers ensure these are visible on the frontlines, if possible. Arca first rattled off a […] [Read More]

While Capital One Auto Finance president Kevin Borgmann said his division is looking to bring on new dealer partners and hire new associates, he also revealed the company’s collateral has been earning record prices at auctions. This isn’t a trend the management expects long term, though. "As the economy continues to improve, we are seeing […] [Read More]

Following a relatively unusual week when both car and truck values decreased — something that had not happened in four months — the wholesale market again saw softness within each of the two major vehicle categories, according to Black Book managing editor Ricky Beggs. This time around, the change in car values was slightly moderate, […] [Read More]

BMW and Manheim recently rolled out a new company car distribution and processing center on the campus of the BMW Spartanburg assembly plant in South Carolina that will be used to deliver, recondition and redistribute the automaker’s company cars. Manheim Greer — a more than 20,000-square-foot center — held its grand opening even for employees […] [Read More]

After having to send its employees home last week without pay, Saab’s future is looking a little rosier as the automaker negotiates potential funding to satisfy creditors and re-start production at its idled Trolhatten plant. On the heels of announcing Monday that an unnamed Chinese company put in an order to purchase 582 Saab Vehicles […] [Read More]

Probably not what dealers wanted to hear going into the important Fourth of July sales stretch, but The Conference Board Consumer Confidence Index took another tumble. Officials said Tuesday that the index — which had declined in May — decreased again in June. The index now stands at 58.5, down from 61.7 in May. They […] [Read More]

DrivingSales revealed earlier this week that submissions for its second annual DrivingSales Innovation Cup Award are now open. The award, which will be announced this fall at the DrivingSales Executive Summit in Las Vegas, spotlights what dealers find to be the most innovative dealership solution of 2011. Dealers can nominate their vendors, who can also […] [Read More]

Dealers may see an influx of customers as falling gas prices allow consumers to spend more on what they drive and less while filling their vehicles’ tanks, the National Automobile Dealers Association’s top economist reported late last week. Dealers have been digesting reports of supply shortages and high gas prices hurting the economy for months […] [Read More]