The final panel of the opening day of the National Remarketing Conference was a keynote panel featuring top remarketing executives, including Jeannie Chiaromonte, of Bank of America; Horacio Trujillo, of Mercedes-Benz Financial; Dan Kennedy, of GM Remarketing; and Bob Graham, of ARI. [Read More]

During October, the proportion of vehicle transactions that were leases climbed to more than 27 percent, according to CNW Market Research, which said the automaker leading the way as far as leasing penetration upswings was Toyota Leases commanded 27.6 percent of the market in October, compared with 26.9 percent in September. Meanwhile, 6.6 percent of transactions were cash […] [Read More]

Despite being softer than September levels, wholesale prices showed a year-over-year gain of 2 percentage points, according to the latest OPENLANE Market Index report, which pointed to mixed sequential results across its various segments. Specifically, the index was at 119, which was down from 120 in September, officials shared. However, this was up 2 percentage […] [Read More]

As Chrysler officials reported gains in third-quarter operating profit, the domestic automaker joined Ford Wednesday in denouncing the passage of a free trade agreement between the U.S. and Korea as it was written back in 2007. Both companies described Korea as one of the most closed automotive markets in the world. And both Chrysler and […] [Read More]

The National Automobile Dealers Association described a recent decision by the Internal Revenue Service as a “major victory for car and truck dealers.” NADA shared Wednesday that the IRS has created uniform capitalization safe harbor methods of accounting. The association thinks these methods should favorably resolve several contentious and potentially costly income tax issues that […] [Read More]

MobileAppLoader, a company that creates mobile device applications for small and medium-sized businesses, reported Wednesday that dealership apps it makes for one specific luxury brand are downloaded much more frequently than apps of its peers. The brand that led the way in the provider’s report with 36 percent of the total was BMW. Coming next […] [Read More]

DealerRater, a dealer review website, reached a new threshold for its Certified Dealer program while also marking a two-fold increase in the program’s  membership in the past six months. The site now has 2,000 dealers in the fold. Officials believe such monumental growth in the number of Certified Dealers underscores the significance of the certification […] [Read More]

Insurance Auto Auctions has debuted its ninth facility in the Sunshine State, as the company unveiled a facility in Fort Myers, Fla. It is located two miles from the city’s downtown. The auction is five miles from Interstate 75. “The Fort Myers facility was selected for its convenient location and to accommodate the increasing demand […] [Read More]

MINNEAPOLIS — Wolters Kluwer Financial Services announced this week it's now offering captive finance companies, lenders and dealerships universal closed-end vehicle lease agreements for all U.S. states. The company stated that these lease agreements can help ensure vehicle leases are in compliance with current federal and state-specific regulatory requirements, while also helping simplify leasing and back-office processes. By […] [Read More]

WASHINGTON, D.C. — September's average interest rate on new-car loans at auto finance companies climbed to the second-highest point of the year, according the latest report from the Federal Reserve. Officials calculated the September average was 4.35 percent. Not since February had the figure moved this high. That's when it jumped to 4.72 percent, starting a […] [Read More]