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The Federal Trade Commission announced last week final amendments to its Used Car Rule. It noted that its amended rule permits dealers to use their remaining stock of Buyers Guides for one year after the effective date of the amended rule.
Read More →Asbury Automotive COO David Hult called the group's F&I performance in the third quarter a "small setback" compared to previous quarters, noting that he remains hopeful for the coming quarter.
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Total auto loan balances in the third quarter grew 9% from a year ago to $1.1 trillion, with subprime balances leading the way, TransUnion reported on Monday.
Read More →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.
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