Incentives were on the way up last month, as average transaction prices were reported to have fallen slightly from April. According to TrueCar.com data, the average incentive spending for light vehicles in May was $2,677, up $17 (0.7 percent) from May 2013 and up $91 (3.5 percent) from April. TrueCar estimated the ratio of incentive […] [Read More]

For the second quarter in a row, quarterly repossession for finance companies — lenders that often cater to subprime buyers — jumped by around 70 percent year-over-year. The latest State of the Automotive Finance Market report from Experian Automotive indicated that first-quarter repossessions for finance companies climbed 69.1 percent year-over-year to 3.01 percent of their […] [Read More]

If certified pre-owned Honda Civics or Ford Escapes turn quickly at your dealership, here’s more good news. Those units were the top two new models attached to a lease in the first quarter. During a span in which leasing hit record levels, Experian Automotive found that the Civic and the Escape led the way in […] [Read More]

ADESA announced another upgrade to its online vehicle remarketing platform, ADESA.com, on Wednesday. With the enhancement, registered dealers are able to pinpoint the amount of credit they have available from Automotive Finance Corp. as soon as they log in and prior to making any bids. The new online offering is available on ADESA DealerBlock, a […] [Read More]

You’ve heard the phrase, “Watch your tone!” It’s a familiar tableau played out between patient mothers and equally impatient toddlers everywhere around the world as the little ones among us learn how to communicate in a world where human instinct craves instant satisfaction, and yet patience and tact are more often rewarded. We usually learn […] [Read More]

A TrueCar executive used a medical analogy to describe how the company’s first day of trading on the Nasdaq Global Select Market went on Friday. TrueCar announced the pricing of its initial public offering of 7,775,000 shares of its common stock at a price to the public of $9 per share, a bit below the […] [Read More]

 After boosting its global used-car retail sales by nearly 16 percent in the first quarter, Group 1 Automotive announced late last week a new stock offering. The dealer group revealed the pricing of its private placement of $350 million of 5 percent senior unsecured notes due in 2022. The offering size was increased to $350 […] [Read More]

Shoppers have another option when trying to nail down the best rate for a new car as well as gauge their new vehicle's affordability based on income. The initial release of the monthly U.S. Auto Buyer’s Affordability Index (ABAI) from Requisite Press LLC gives shoppers and dealers a point of reference when researching new-car gauging affordability. […] [Read More]

Preferred Warranties Inc., provider of vehicle service contracts for pre-owned vehicles, has named a new sales manager for the company’s Mid-Atlantic Region.   Steve Chapman will oversee the sales activities of seven consultants, as well as business development for PWI’s territory, which includes Pennsylvania, Delaware, West Virginia and parts of Maryland and Virginia. “Steve’s proven […] [Read More]

Skip-tracing and forwarding company A. Smith Enterprises recently selected Vendor Transparency Solutions as an online compliance monitoring platform. Because of the importance of detailed compliance, A. Smith Enterprises chose VTS since the firm offers a platform to serve present and future needs of the industry. A. Smith Enterprises pointed out that VTS works for the […] [Read More]