Consumer sentiment and confidence in the economy fell to its lowest level since 2009 and registered the sharpest drop in two years as debt ceiling debate turmoil in Washington revealed the realities of a weak economy, according to August’s Consumer Reports Index. Though most numbers regarding the automotive segment remained even with July, used-vehicle purchases […] [Read More]

With auction volumes down throughout the country and more and more dealers turning to online sales and retail view to fulfill inventory needs, Manheim recently made the decision to consolidate and merge some auctions together in the larger metro markets. Specifically, all auctions impacted had a common denominator, according to Mike Broe, Manheim’s executive vice […] [Read More]

While the message delivered recently by the Federal Trade Commission about vehicle warranty rejections is aimed toward consumers, it still highlights reminders for some dealers and automakers. [Read More]

Wholesale prices bested year-ago totals in July despite dipping 2 percentage points from June, according to OPENLANE. And although three of the four vehicle categories were down in price sequentially, one segment halted a long stretch of month-over-month decreases. More specifically, OPENLANE’s U.S. Market Index was at 107 in July, compared to 109 in June […] [Read More]

As Hertz Global Holdings announced it extended the expiration date of its exchange offer for the company, Dollar Thrifty Automotive Group reported a slight uptick in second-quarter net income. DTAG officials computed that their second-quarter net income settled at $42.5 million or $1.36 per diluted share. In the year-ago period, the level was $42.3 million […] [Read More]

With short-term leases still going strong on LeaseTrader.com, site officials also noticed when reviewing their July trends that Toyota and Lexus lease buyouts appear to be easing. LeaseTrader.com explained that Toyota and Lexus — still bouncing back from production and inventory issues stemming from March production setbacks — saw continued lease buyout activity from lease […] [Read More]

With topics ranging from how the service department can maximize gross potential to how to harness mobile tools best, August is a busy month for Webinars orchestrated through NADA University. The training arm of the National Automobiles Dealers Association has a total of five Webinars this month, with three upcoming and two others that can […] [Read More]

LAKE SUCCESS, N.Y. — Also prompting a raise in annual estimates, DealerTrack Holdings saw significant gains both in the second quarter and through the first six months of 2011 in net income, revenue and more. Beginning with a look at second-quarter figures, the company calculated its revenue came in at $89.0 million as compared to […] [Read More]

WASHINGTON, D.C. — The American Financial Services Association recently announced that TD Auto Finance is its newest member. The company was formed when TD Bank Group purchased Chrysler Financial in April, combining its existing auto lending business with Chrysler Financial under a new North American auto lending brand — TD Auto Finance. TD Auto Finance provides […] [Read More]

WASHINGTON, D.C. — While the Federal Reserve didn't have any update on averages for new-vehicle loans by finance companies, officials noticed non-revolving credit increasing at a rate not seen since February. Looking at June data, the Fed discovered this credit increased at a rate of 7.5 percent. The last time it was that high was […] [Read More]