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In a 6-2 decision, the Supreme Court vacated the 9th U.S. Circuit Court of Appeals' ruling that service advisors qualified for overtime pay because they were not considered “salesmen” under the Fair Labor Standard’s Act (FLSA).
Read More →Edmunds.com said today it expects the industry to post the best June sales since June 2005, when 1.67 million vehicles were registered. The retail SAAR should come in at 13.6 million units, with fleet transactions accounting for 20.1% of total sales, according to the firm.
Read More →Shoppers age 18 to 24, or Generation Z, buy 6.5 times more used cars than new cars, according to an analysis of Polk vehicle registration data analyzed by Edmunds.com. While it’s not surprising that college-aged consumers are buying used cars, what they’re buying is.
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The business unit of KAR Auction Services has promoted C.J. Lopez to director of major dealer accounts, and Kjersta Loyd to regional dealer sales manager for the Mideast and Midwest regions.
Read More →Kia ended the 27-year reign of premium brands by ranking highest among all nameplates in J.D. Power’s annual study. Overall, new-vehicle quality improved 6%, which was double last year’s 3% improvement.
Read More →The firm reported that wholesale prices for cars eight years or older fell 2% in May, which was better than the 2.7% drop recorded for the month over the last four years. The improvement led to the first increase this year in the NADA Used Car Guide's used-vehicle price index.
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Over the last four weeks, depreciation rates for both cars and trucks have begun to show some consistency, according to Black Book, with truck depreciation picking up from the spring season.
Read More →A new Mitsubishi dealership is coming to the Bonita Springs/ Naples area. Bonita Springs Mitsubishi, owned by retail veterans Bill Doraty and Jeff Johnson, is scheduled to open Monday, June 27.
Read More →Confident Financial Solution's auto repair financing program has experience strong growth this year, the company reported this week. It now has 1,000 retailers offering its product, including 410 franchised new-car dealers.
Read More →RouteOne announced this week that Southeast Toyota Finance, a provider of automotive financing for 176 dealers in the southeastern United States, will now include econtracting on its automotive finance platform.
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