Ford Motor Co. announced Monday that Mike Bannister, executive vice president and chairman and chief executive officer of the OEM's financial arm, Ford Motor Credit Co., has elected to retire effective Jan. 1. After 39 years of service, Bannister will be succeeded by Bernard Silverstone, who will be named group vice president and chairman and […] [Read More]

In recent months, used-car prices have declined more rapidly than the slowdown in new-car prices, according to Kelley Blue Book. As such, there is more space now between used prices and new prices than there was earlier this year. However, KBB’s Alec Gutierrez emphasized that the gap should stay narrow enough to “prompt consumer consideration […] [Read More]

This fall season may be bringing more shoppers to the lots to purchase a certified pre-owned pick-up truck, and AutoTrader.com officials suggest now may be a good time for shoppers to consider these full-size rides. Why? AutoTrader explained there is a “pretty big gap between the average price of new models and CPO models” on […] [Read More]

When gas prices rise, so does consumer interest in hybrid vehicles, according to Arthur Henry, manager of market intelligence and market analyst at Kelley Blue Book. In fact, Henry noted this concept “reigned true” this month, as used hybrid cars increased 10 percent in share month-over-month, what he called “a direct response to the recent […] [Read More]

After holding sessions this summer, the American Recovery Association and RISC are joining forces again to conduct free continuing education to benefit recovery and remarketing professionals this week. The one-hour Webinars conducted by ARA and RISC are broken into three 20-minute sessions. The topics on tap include: —Recovery Laws & Regulations: Defensive Driving —Compliance and […] [Read More]

When securing supply for their used-car lots, dealers may be having trouble finding enough luxury units this fall. The AutoTrader.com analysis of last month's supply trends found that, once again, vehicles in this segment remain elusive. According to September’s installment of vehicle scarcity data that is provided monthly to Auto Remarketing by AutoTrader.com, CPO luxury […] [Read More]

After launching itself as a recovery management and skip-tracing services provider back in March, Primeritus Financial Services acquired another industry player on Thursday — Renovo Services. Primeritus executive vice president of sales and marketing Joe Mappes said the company expects to provide further information about the new combined product portfolio and roadmap during the next […] [Read More]

DealerTrack announced earlier this week that the company has been selected as the recommended DMS provider for Dealers United, a national purchasing network for privately owned dealers. As part of the agreement, officials said Dealers United will market DealerTrack DMS as the recommended DMS solution to its entire network of nearly 5,000 franchised and independent […] [Read More]

Along with an explanation of what it means to a proposed deal in Canada, Hertz Global Holdings announced Thursday that it agreed to extend the term of its timing agreement with the Federal Trade Commission in connection with its previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty […] [Read More]

As a survey by another firm showed what factor takes top priority when Canadians are shopping for vehicles, data from autoTrader.ca showed the top 10 models potential buyers considered during the third quarter — primarily units from Ford and Honda. Whether it was a workman-like pickup truck, a reliable import or an über-cool exotic, autoTrader.ca […] [Read More]