WALNUT RIDGE, Ark. — Veteran executives in the buy-here, pay-here industry sometimes can sense if vehicle repossession is on the horizon. And knowing when to repossess is vital to offsetting and lessening the high risk that comes with being in the BHPH business. For instance, Fran Cavenaugh found that keeping close track of a customer's payment […] [Read More]

SOUTHFIELD, Mich. — In the aftermath of the automaker temporarily stopping sales of eight of its vehicles, U.S. Toyota brand dealers could lose significant used-car revenue, in addition to even steeper losses on the new-car side, according to a recent report from Bloomberg. Specifically, Bloomberg — citing National Automobile Dealers Association chairman John McEleney — indicates that each dealer […] [Read More]

HERNDON, Va. — A new version of the game "Punch Bug" is what executives from Volkswagen of America plan to use as a marketing centerpiece that will kick off during the Super Bowl. What VW officials now are calling it is "Punch Dub," and it is based on the game that children used to play back […] [Read More]

FARMINGTON HILLS, Mich. — The current health and future viability of leasing has been a hot topic in the auto marketplace lately, as leasing levels throughout the industry dipped last year but are now showing a bounceback.  Sharing some perspective from the luxury side of the market with Auto Remarketing this week was Jeff Gartland, director of […] [Read More]

MEDFORD, Ore. — A stronger push to move used vehicles helped Lithia Motors overcome a sluggish new-unit retail sales performance and improve its fourth-quarter revenue figure. Company executives indicated that same-store new-vehicle sales increased just 1.2 percent during the closing quarter of 2009. Meanwhile, Lithia highlighted its used-vehicle retail sales jumped 17.9 percent when compared to […] [Read More]

DULUTH, Ga. — Thanks largely to stronger new and used light-vehicle unit sales, revenues and gross profits, along with a trimmed cost structure, Asbury Automotive Group enjoyed what its president and chief executive officer called a "solid" fourth-quarter financial performance. Its income from continuing operations was $5 million, up from a loss of $352.3 million in […] [Read More]

TULSA, Okla. — Dollar Thrifty Automotive Group revealed on Wednesday that it has extended its vehicle supply agreement with Ford. Executives said the extension is for an additional year until August 2013. Dollar Thrifty also noted the agreement can be extended further with joint approval. "We are very pleased with our first-year results under our Ford […] [Read More]

NEW YORK and TORRANCE, Calif. — Toyota revealed several added services for the thousands of customers in New York who are affected by the automaker's recent recalls. On Wednesday, the automaker reported that these services will come without additional cost to the dealer or vehicle owner. Toyota stressed on Wednesday that the special offerings will be tailored […] [Read More]

DETROIT — The General Motors sale of Hummer to Sichuan Tengzhong Heavy Industrial Machines Co. cannot be completed, meaning that the automaker will wind down its Hummer business, it announced Wednesday afternoon. "One year ago, General Motors announced that we were going to divest Hummer, as part of focusing our efforts on Chevrolet, Buick, GMC and […] [Read More]

WASHINGTON, D.C. — In remarks prepared for his appearance before the House Oversight Committee, Akio Toyoda, president of Toyota Motor Corp., said he fears the automaker has grown too quickly and that this has impacted quality. "Toyota has, for the past few years, been expanding its business rapidly. Quite frankly, I fear the pace at which […] [Read More]