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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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Toyota announced it is developing a cloud-connected telematics system that offers improved navigation features, in-vehicle Wi-Fi, and remote connectivity via a smartphone app.
Read More →Autobytel last week completed the sale of its specialty finance leads product to Internet Brands Inc. for $3.2 million in cash and $1.6 million in additional transition licensing income.
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Edmunds this week unveiled a revamped online experience and refreshed new logo. The company has also dropped the '.com' from its name and will now be known as simply “Edmunds,” according to a company announcement.
Read More →AutoNation will be holding a one-day hiring event on Tuesday, Jan. 10, according to a recent company announcement. The event will take place throughout 15 cities across the country, and will feature thousands of sales and service positions available at all of the company’s stores and service centers, the company stated.
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Ford Motor Co. and Toyota Motor Co. are forming a nonprofit organization that will manage an open source software platform with the goal of providing consumers access to smartphone apps using voice commands and in-vehicle displays.
Read More →Automotive Compliance Consultants announced this week that Texas field manager Ron Keable has earned the National Automotive Finance Association's consumer credit compliance expert designation
Read More →What started out as a small-scale holiday donation for the online vehicle auction company has now scaled into a corporate-wide initiative. The company’s Dallas headquarters alone collected more than 500 toys for the U.S. Marine Corps Reserve program.
Read More →The Consumer Financial Protection Bureau (CFPB) this week took action against Equifax and TransUnion, ordering the two credit reporting agencies and their subsidiaries to pay more than $17.6 million in restitution for deceiving consumers about the usefulness and actual cost of credit scores they sold to consumers. The two firms were also ordered to pay $5.5 million in fines to the regulator.
Read More →Under the terms of the agreement, Ally will provide financial arrangements to support the online retailer's operations, with an initial commitment of up to $600 million. The agreement expands Ally's existing relationship with Carvana, which also includes a floorplan credit line and vehicle sourcing through Ally's SmartAuction platform.
Read More →Depreciation trends stabilized to close out 2016, with depreciation rates for all cars and trucks falling into seasonal patterns, Black Book reported this week.
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