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]

In light of how gas prices climbed during the first half of the year, pushing up demand for compact cars, Edmunds.com calculated how much more dealers had to charge for these units in July versus January. The site’s data revealed buyers paid about 10 percent more for three-year-old  used compact cars in July than in […] [Read More]

Online automotive shopping service and research portal CarsDirect announced Wednesday the launch of a new tool — Expert Buying Outlooks, which aims to give consumers a better idea of what is on a dealer’s lots today. This provides buying overviews and pricing information for individual vehicle models, as well as guidance from pricing experts that […] [Read More]

On the heels of opening a new Fiat store in South Miami as well as Houston, Chrysler Group today revealed yet another dealership in the Sunshine State — one of 12 stores to open in Florida this year. Planet Fiat, located at 9975 NW 12th Street in Miami, will be run by the father and […] [Read More]

In the wake of Hurricane Irene wrecking havoc along the East Coast last weekend, Automotive Resources International — whose home state of New Jersey was one of the affected areas — is lending a hand to its clients with fleet vehicles impacted in the destruction. ARI has re-opened its toll-free “Hurricane Hotline,” which offers support […] [Read More]