AutoPayPlus recently surveyed 2,000 automotive dealers and F&I executives who fear a growing “84-month trade-in cliff,” removing customers from the purchase cycle for too long and threatening future sales volume and dealer profitability. Well, first-quarter data about new-car financing from Edmunds showed how real that “cliff” likely is. Analysts determined extended contract terms reached a […] [Read More]

The revamp of PCMI’s leadership team continued this week with the hire of a new general counsel. It’s a move that surfaced after the provider of cloud-based administration software for F&I products and service contract programs appointed a new chief technology officer at the beginning of March and a new CEO at the start of […] [Read More]

Concluding our inaugural Industry Elite: The C-Suite honoree series is a conversation with Tony Rimas, who is vice president of global revenue at XPEL Inc. Rimas — an avid biker who swam and ran track & field and cross country in college — talks with Cherokee Media Group senior editor Joe Overby about a career […] [Read More]

One of the nation’s oldest dealerships has a new owner. Eich Motor Company, which includes Eich Mazda and Eich Volkswagen in Saint Cloud, Minn., has been acquired by David Luther and Luther Automotive Group from Linda Eich-Desjardins. Performance Brokerage Services, which represented the seller in the transaction, said Eich Motor Company is acknowledged as the […] [Read More]

Manheim Pennsylvania marked the start of the spring wholesale season with its largest event of the year: the annual Xtreme Spring Sale event and fundraiser. The event, in its 17th year, drew more than 3,000 dealers onsite and via Simulcast on March 19 to bid in the auto auction’s signature Highline, classic, specialty and 100 […] [Read More]

Nearly 150 vehicles that allegedly have gone through the wholesale market are part of a lawsuit filed last week by the Justice Department. The federal lawsuit is against S & K Towing, which is based in San Clemente, Calif., alleging that the company violated the Servicemembers Civil Relief Act (SCRA) by illegally auctioning vehicles owned […] [Read More]

Zanchin Automotive Group is honoring a longtime employee with a scholarship in his name to help educate the next generation of automotive professionals. The Woodbridge, Ontario-based dealership group has established The “Car-Man” Charisma Automotive Award, named for Carmen “Car-Man” Scaglione, who is retiring after almost 40 years with Zanchin Automotive. The scholarship will be presented […] [Read More]

Canadians aren’t necessarily souring on electric vehicles. But according to the latest study from Ernst & Young, they are viewing EVs with a more cautious eye. EY Canada’s annual Mobility Consumer Index, which gauges consumer attitudes toward vehicle purchasing and technology preferences, showed Canadians are adopting a more practical approach for their next car purchase. […] [Read More]

Federal Reserve Governor Michael Barr explained how he’s examining data and trends to formulate policy while, “the U.S. economy has thus far remained resilient, despite having experienced a series of shocks over the past year.” Barr appeared last week at the Brookings Institution in Washington, D.C., following the Federal Open Market Committee (FOMC) keeping interest […] [Read More]

In what we’re proud to call an annual tradition, Cherokee Media Group’s Women in Remarketing program, sponsored by Ally, has evolved into a celebrated franchise of Auto Remarketing and a key pillar of the National Remarketing Conference and Used Car Week. For nearly two decades, Women in Remarketing has recognized excellence among the leaders of the […] [Read More]