To kick off the return of Auto Remarketing’s “4 Questions With” series of Q&As with industry executives, we connect with Jim Hallett, who last week retired as KAR Global’s executive chairman after more than two decades with the company. The following Q&A with Hallett is available to CMG Premium subscribers ... [Read More]

Marty Miller returned as a guest on the Auto Remarketing Podcast to go through some of the data contained in Experian’s latest quarterly Automotive Market Trends Report. The director of product data and implementation also reviewed what Experian is calling “the sweet spot” for dealership service drives based on current vehicles in operation and other […] [Read More]

The National Independent Automobile Dealers Association added more resources for members on Tuesday. Buckeye Dealership Consulting, a nationwide reinsurance services and F&I products provider for buy-here, pay-here and independent dealers, now is a Gold Level National Corporate Partner of NIADA. As a National Corporate Partner, Buckeye can assist NIADA’s more than 14,000 members customize a […] [Read More]

Bankruptcy filings in 2023 clearly are on the rise. According to data provided by Epiq Bankruptcy on Monday, new bankruptcy filings in March registered year-over-year increases across all U.S. major filing categories for the third month in a row. Epiq reported a total of 42,368 new bankruptcies were filed in March, which is 17% higher […] [Read More]

The Consumer Financial Protection Bureau (CFPB) is looking to clarify what constitutes abusive conduct in consumer financial markets. On Monday, the bureau issued a policy statement that the regulator said explains the legal prohibition of that abusive conduct and summarizes more than a decade of precedent. Officials explained through a news release that policy statements […] [Read More]

Gill Automotive Group has purchased H&J Chevrolet in Kerman, Calif., from Rick and Mike Teixeira, according to a news release from Performance Brokerage Services, which advised on the deal. The dealership was founded 57 years ago by John Teixeira, whose sons Rick and Mike now operate the business. As for the Gill group, it now […] [Read More]

Black Widow Imaging has new ownership and has restructured under new management. The company, which specializes in high-quality automotive imaging, was purchased late last year in an auction in Missouri bankruptcy court by an angel investor group led by Missouri dealer Matt Croak, a spokesperson for the company told Auto Remarketing via email. The angel […] [Read More]

Monday marked the first business day — or perhaps the third sales day depending on your dealership’s hours of operation — of the second quarter, which most dealers view as strong for the market. That’s the conclusion from survey results of the Cox Automotive Dealer Sentiment Index (CADSI), which also recapped the soft views principals […] [Read More]

Financing a used-vehicle acquisition almost seems like a bargain when compared to new-car trends included in first-quarter data from Edmunds released on Monday. Edmunds reported the average amount financed for a used-vehicle delivery in Q1 came in at $28,610 for 70 months with an average interest rate of 11.1%. With an average down payment clocking […] [Read More]

SavvyMoney and Credit Union of Southern California (CU SoCal) highlighted near record-breaking numbers for pre-approval auto finance marketing campaign deployed last year. Results from the campaign that ran from Aug. 23 to Oct. 16 showed CU SoCal generated a 74% increase in application volume from digital channels, a 53% increase in total funded contracts from […] [Read More]