Significant retail discounts drove up both December and fourth-quarter new-vehicle sales for the nation’s largest dealer group, but they also cut into the group’s sales margins, AutoNation officials said this week.
Cox Automotive Canada, through its Manheim Canada operation, has acquired complete ownership of Manheim Source Edmonton. The auction will now operate as Manheim Edmonton.
Organizers of Dealer Summit announced that Greg Goebel and Jim Ziegler will speak at the 2016 event, which will be held May 3–5 at the Sheraton Tampa Riverwalk Hotel.
On Dec. 29, the Federal Trade Commission announced plans to conduct a qualitative survey of consumers who have purchased and financed an automobile from a dealer within the last six months. If issues are revealed, the agency said it may consider enforcement initiatives or rulemaking.
Between October 2014 and September 2015, consumers returned to Subaru and Ford more than any other OEM brand, according Experian Automotive.
The General Motors Board of Directors has unanimously elected Mary Barra as its next chairman, effective immediately. She succeeds Theodore Solso, who will serve as the board’s lead independent director.
US Equity Advantage has made available a new financial planning tool kit for AutoPayPlus customers. According to the company, the new toolkit will assist customers who are looking to automate their bill payments, organize their finances, monitor their credit, and create a budget and savings plan for the future.
Hyundai Motor announced Monday it has hired Manfred Fitzgerald as senior vice president of its Genesis luxury brand. The former director of brand and design for Lamborghini will be based in the South Korean automaker's headquarters in Seoul. He will play a key role in brand strategy, marketing and other business operations within the Genesis brand.
IHS Inc., the company that purchased CARFAX in 2013, has purchased CARPROOF Corp. for approximately $460 million. The Canadian company is a provider of vehicle history reports, vehicle appraisals and valuations.
Vboost users will now have access to new music to use in their "customericals," instant photo/video consent from customers and the ability to text "customericals" directly to customers' phones.
Edmunds said this week the industry is on pace to break the previous December sales record set in 2004. It predicts the industry will retail 1.7 million units in December, a 29.7% increase from November and a 12.3% increase from a year ago.
GM explains why some assumptions are par for the course and others can cost you business.
The online startup looking to reinvent how cars are bought and sold has agreed to purchase the pioneer of selling vehicles online. According to officials, the two brands will co-exist and continue to operate online separately.
Based on new-vehicle registration data collected by Experian Automotive, industry sales have returned to prerecession levels. Crossover utility vehicles and the state of California have led the way, accounting for 23.9% and 11.8% of all new-vehicle registrations, respectively.
KAR Auction Services has hired Toby Hahn as vice president of total rewards and promoted Brad Jokovich to vice president of human resources.
