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DEALER GROUPS OVERCOME STORMS; SHOW STRONG EARNINGS Wednesday, November 20, 2019 - 4:14pm Daryl Lubinsky, Correspondent Adjusted third-quarter 2019 earnings results from Group 1 Automotive reflected an after-tax cost of approximately $9 million associated with Tropical Storm Imelda. Many of...Read More
MANHEIM'S PICARD NAMED COMPANY'S VP OF INDUSTRY PARTNERSHIPS Wednesday, November 20, 2019 - 2:12pm Auto Remarketing Staff Manheim has created a new vice president of industry partnerships position, and filling that role is a longtime company leader who is next in line to be president of a trade...Read
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FORD, SUBARU & LEXUS HEADLINE VINCENTRIC 2020 BEST CPO VALUE INAMERICA AWARDS
Wednesday, November 20, 2019 - 12:08pm Auto Remarketing Staff Among the festivities during Used Car Week 2019, the seventh annual Vincentric Best Certified Pre-Owned (CPO) Value in America Awards were announced. Leading the way was...Read
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RETAIL
DEALER GROUP RESULTS: USED VEHICLES STRONG AS A BULL Tuesday, November 19, 2019 - 3:28pm Daryl Lubinsky, Correspondent“We
continue to be bullish on used.” AutoNation chief executive officer and president Cheryl Miller was answering a question about the AutoNation USA used retail stores from a participant in AutoNation’s quarterly earnings conference call on Oct. 29. In the third-quarter earnings calls for... Read MoreMORE RETAIL
* 2 investment firms make major dealership acquisitions * Lithia names chief operating officer * Donated vehicle helps injured veteran regain freedomWHOLESALE
WITH LOWER-THAN-EXPECTED QUARTERLY RESULTS, KAR FOCUSES ON EFFICIENCY Monday, November 18, 2019 - 3:33pm Daryl Lubinsky, Correspondent When KAR Global spun off its Insurance Auto Auction business this year, that was about 35% to 40% of its total business. “We’ve become a much smaller company,” said Jim Hallett, who is chairman and chief executive officer of KAR Global. “We have to continue to look for ways to take costs... Read MoreMORE WHOLESALE
* Lane watch: Typical late-fall scenes return * ACV Auctions secures $150 million in Series E funding * Research: Certified vehicles bring quicker sale, confidenceTECHNOLOGY
MOBILE TECH RX MAKES SPECIAL OFFERS FOR ANALYTICS PRODUCT TO HELP RECONDITIONING PROFESSIONALS Wednesday, November 20, 2019 - 12:10pm Auto Remarketing Staff Reconditioning quickly can become complicated depending on the magnitude of servicing a vehicle might need and how much a dealer wants to spend on getting that unit out to the front line. Mobile Tech RX rolled out special offers for its solution on Wednesday aimed at creating a dashboard so reconditioning... Read MoreMORE TECHNOLOGY
* Spiffy acquires YLL, expands fleet offering to 20 markets * Cover Genius gains $10M to fuel ongoing global expansion * New sales leader for Xcite AutomotiveFINANCIAL
SWAPALEASE.COM EXPERIENCES ‘MODEST’ DECLINE IN OCTOBER APPROVALS Tuesday, November 19, 2019 - 12:57pm Auto Remarketing Staff Swapalease.com reported declines in approvals for vehicle-lease credit applicants during October on both a month-over-month and year-over-year basis. But site officials classified the movements in both instances as “modest.” The site indicated its October approval rate registered in at 68.8%. That’s... Read MoreMORE FINANCIAL
* PWI blends ride-share coverage to vehicle protection plans * Overwhelming evidence supports value of F&I products * NextGear names new presidentANALYSIS
LAND ROVER GRABS 6TH RESIDUAL VALUE AWARD FOR TOP PREMIUM BRAND Tuesday, November 19, 2019 - 4:55pm Auto Remarketing Staff Land Rover has now won the top premium brand position in ALG’s Residual Value Awards six times, as the TrueCar analytics subsidiary released the results of this annual awards program Monday. Taking top honors on the mainstream side was Honda, which led all mainstream brands with five category wins. Subaru was... Read MoreMORE ANALYSIS
* Used-car sales at public groups up 11% in Q3 * Council certifies ARI as a women’s business enterprise * ALG: Toyota, Lexus lead the pack in pre-owned value Copyright © 1990-2019 Cherokee Media Group All rights reserved. Privacy PolicyCONTACT
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