With September in the books, Edmunds reported this week that interest rates have stayed above 5% for eight months in a row and now mirror levels not seen since before the Great Recession.
The firm’s Used Vehicle Retention Index for September increased by 1.9% from a year ago to 116, with all vehicle segments showing increases. The compact crossovers, mid-size crossovers, compact car, full-size pickup, and mid-size car segments were the main drivers.
Premium-brand audio systems remain an important deciding factor for car buyers, according to the latest report from IHS Markit.
The technology firm this week announced that more than 100 million vehicles have been sold through its software platforms since the company was founded out of the garage of co-founders Brad Perry and Jonathan Ord.
Three recent arbitration cases provide valuable guidance for dealers who prefer to learn their lessons from headlines rather than headaches.
In an unexpected decision, California Gov. Jerry Brown vetoed a dealer protection bill unanimously passed by the California State Legislature. The sticking point was a 'complex formula' for determining dealer reimbursement on warranty and recall work.
The unified companies will leverage a vast network of F&I product providers and new technology to innovate for dealers, agents, providers, and lenders.
The opening marks the revival of the historic Allston building, located 61 North Beacon Street in Allston, Mass. The new store utilizes three floors of building, occupying 42,000 of the total 71,300 square feet.
The upcoming Compliance Summit will feature two panel discussions staffed by dealer counsel and personnel from around the nation.
The Federal Reserve on Wednesday raised interest rates for the third time this year and signaled it will raise the cost of borrowing again in December. Industry economists said it will not get better for consumers or the industry from here.
Attendees of the upcoming Industry Summit and P&A Leadership Summit are invited to register for Automotive Compliance Education’s onsite certification review and exam for no additional charge.
The automotive retailer announced that co-founder B. Scott Smith is stepping down as CEO, president, and director of the public dealer group. His brother David Burton Smith will assume his role as CEO, while executive Jeff Dyke was promoted to president.
Spireon has released ‘Impound Storage Fees, a Billion-Dollar Problem,’ a new study billed as the first to address the steep costs rampant impounds generate for dealers, finance sources, and car buyers.
Despite the expected volume decline, the firm put September’s seasonally adjusted annual sales rate at a healthy 17.1 million, down from last September’s 18.1 million SAAR. The company said higher interest rates and talks of tariffs may be having some pull-ahead impact in the market.
Use this four-step process to understand how credit union executives think, offer your customers a reliable and trusted financing source, and build a long-lasting and mutually beneficial partnership with a local business.
Kelley Blue Book editors rank and comment on the 10 Best Back-to-School Cars for 2019, all starting at around $20,000 or less and still available on new-car lots.
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