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Ally CEO Jeffrey Brown acknowledged the finance source missed analysts’ expectations in the third quarter, but said the finance sources feels even more ‘bullish about the upside potential that exists’ ahead. He was referring to the company’s acquisition of an online auto lender exchange that will help it build a direct-to-consumer option.
Read More →Both the car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28, with car and truck wholesale values decreasing by 0.53% and 0.58%, respectively, vs. 0.76% and 0.80% the previous week..
Read More →Wholesale used-vehicle prices declined 0.7% in October, according to Manheim. Non-seasonally adjusted prices declined 2%, with the Manheim Used Vehicle Value Index increasing 0.6% from a year ago to 126.0.
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This week, F&I product provider GWC Warranty was awarded a 2016 Automotive Communication Award at the Women’s Board Reception during the Automotive Aftermarket Products Expo.
Read More →Auto/Mate Dealership Systems has been recognized as one of the 30 “Best Places to Work” in New York State’s Capital region by the Albany Business Review, the company announced today.
Read More →Copart Inc. announced the activation of reserve land in Georgia and Virginia, in addition to the expansion of existing locations in the Carolinas and Florida. The land expansions and activations are connected to Hurricane Matthew, allowing the global online vehicle auction company's Catastrophe Response Team to provide even greater service in response to weather-related damage.
Read More →Customers who bought cars from Hooman Toyota of Long Beach are angry after losing the perks of an offer they paid into following the dealership's change of ownership, NBC 4 News reports.
Read More →The average price of a used vehicle for model years 2011-2015 depreciated 2.9% in October, a noticeable change from September's 2.3% depreciation rate, according to Black Book.
Read More →F&I, used retail sales, and fixed ops helped dampen Sonic's third quarter declines in volume and gross profit per unit (GPU) retailed. The group also reported that its EchoPark locations increased their F&I per-copy average by 16.3% to $1,078. Overall, the group's F&I operations averaged $1,341 per copy during the period.
Read More →The mobile app allows customers of the group's Mercedes-Benz stores to select their vehicle, the dealership from which to buy, apply for financing or a lease, and then take their approval to the dealership to pick up their vehicle.
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