Group 1 Automotive said Thursday a new partner has joined its existing $1.35 billion revolving credit facility. The latest to sign on is Volkswagen Credit, which will serve as a partner to the facility that expired in June 2016. Commenting on the news, John Rickel, Group 1's senior vice president and chief financial officer, said,  […] [Read More]

If an individual reports a complaint about a dealer or auto finance company to the Consumer Financial Protection Bureau, data about the grievance likely will end up with state regulatory agencies, too. [Read More]

As November saw average days to turn for used vehicles in Canada sitting at 62 and overall transaction prices coming in around $29,000 — considerably lower than MSRP value — it is becoming more and more important to know just what a customer expects when visiting a dealership, says J.D. Power and Associates. [Read More]

When it comes to the used models getting the most looks from online shoppers, some familiar names were at the top of the list. According to consumer trend data provided in the latest Guidelines report from NADA Used Car Guide, the three most-researched used models last month on NADAguides.com were the Ford F-150, Chevrolet Silverado […] [Read More]

With auto lending increasing to subprime customers, the latest RDN Monthly Analytics Update showed October recovery volumes increased 7 percentage points from September levels, marking the second consecutive month-over-month jump. Furthermore, the October reading came in 5 points above year-ago levels. RDN indicated October recovery orders ticked 1 percentage point from the previous month but  […] [Read More]

Used highline units remain hard to find this season, and a few certified pre-owned vehicles as well as rides from import automakers are proving scarce, as well. These were just some of the findings that popped up in the latest installment of vehicle scarcity data that is provided monthly to Auto Remarketing by AutoTrader.com. The […] [Read More]

Ally Financial is working with an Oklahoma City dealership group and regional chapter of the Operation Homefront non-profit to spread some holiday cheer and honor local military families. Ally, Hudiburg Auto Group and Operation Homefront will team up for an event where the children of active duty and National Guard military personnel in the state […] [Read More]

Fueled by its stranglehold on the top spot among used-vehicle lenders, Wells Fargo rose to be No. 1 in market share among all auto finance companies for the first time this year, according to Experian Automotive's Q3 State of the Automotive Finance Market Analysis. Wells Fargo surged past Ally Financial, grabbing 5.90 percent of the […] [Read More]

About a year ago, I introduced the idea of “provisioning” inventory as a replacement for the long-held practice of dealers “stocking cars” to feed their used-vehicle operations. The basic concept is that “stocking cars” doesn’t sufficiently capture the more holistic nature and needs of retailing used vehicles to achieve maximum return on investment and profitability […] [Read More]

It was another record month for the certified pre-owned business, which appears to be headed toward heights never reached before, according to Autodata Corp. Last month was the strongest November ever, with certified sales totaling 147,860 units, the firm said. This continues a string of records in the CPO market, including the best October ever […] [Read More]