General Motors, though its venture capital arm, GM Ventures, has invested an undisclosed amount in UVeye, an advanced vehicle inspection systems developer. The companies also entered a commercial agreement to explore placing the inspection system in GM dealerships throughout various markets and a strategic collaboration agreement which calls for the two to work on several […] [Read More]

Wholesale prices softened by 0.15% during the week going into the Fourth of July weekend. However, why Black Book said it was “no surprise” values moved in that direction might not be fortuitous for either auctions or dealerships. Analysts continued in the newest installment of Market Insights by saying, “with the exception of … [Read More]

CARS Recon has a new president. In a move that was effective Friday, director of operations and client services Becky Anderson is now president and will lead day-to-day operations, strategy and planning. CARS Recon chief executive officer and board chairman Ron Hope (formerly the president) will remain in those positions but will not be directly […] [Read More]

Group 1 Automotive has exited Brazil. The dealer group said Tuesday it has closed on the disposition of its operations in the South American country, after nine years there. Group 1’s wholly owned subsidiary GPI SA, LLC closed the sale under the share purchase agreement with Original Holdings S.A. UAB Motors Participações Ltda., which is […] [Read More]

A new study from Rapid Recon-certified partner iPacket identified the three most convincing documents utilize when used-vehicle buyers are evaluating their purchase decision. The study results released on Tuesday pointed to authentic OEM MSRP data, new-vehicle brochures and reconditioning receipts For the study, Rapid Recon and iPacket explained that click activity and time spent were […] [Read More]

Signed into law in June 2009, the $3 billion Car Allowance Rebate System (CARS) law, commonly called “Cash for Clunkers,” by President Barack Obama had numerous, had many long-lasting, effects on the automotive retail industry. The similarities — and differences — between 2009 and what automotive retailers face in 2022 can give dealers insights into […] [Read More]

The American Bankers Association, the Consumer Bankers Association, the Independent Community Bankers Association and the U.S. Chamber of Commerce collaborated to compile a 21-page white paper and sent it to the Consumer Financial Protection Bureau (CFPB). The paper made the group’s argument to the bureau to rescind recent changes made to the Unfair, Deceptive, or […] [Read More]

The powersports sector in Canada is getting some reinforcements. NetSol Technologies, a global business services and enterprise application solutions provider, recently signed a contract with Yamaha Motor Finance Canada for a further implementation of its LeasePak solution. Peter Minshall, executive vice president of NetSol Technologies Americas, explained what the move means. “Yamaha Motor Finance is […] [Read More]

Canada Drives is eyeing growth in other provinces and now has more financial resources to accomplish that objective. Last week, the online vehicle shopping and to-your-door delivery platform, announced the close of $40 million CAD in equity funding from Canadian company goeasy, one of Canada’s leading non-prime consumer lenders. With the company operational in British […] [Read More]

Did your dealership hit its retail sales targets for the month and quarter? Whether or not your store did, a new shopper study CDK Global might illuminate why more vehicles rolled over the curb than you expected or that batch of models still is in inventory. CDK Global said there are a lot of assumptions […] [Read More]