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J.D. Power’s latest index finds average prices for used vehicles were up 2% year-over-year in August. Analysts say the segment will continue to drive profits for dealers for the foreseeable future.
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ADESA partnered with Fiat Chrysler Automobiles to debut the next phase of its Simulcast cloud-based online auction solution at a national meeting of franchised dealers.
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An enhanced integration with iRecon will allow dealers using vAuto Provision to manage inventories and reconditioning at the same time, an ‘end-to-end’ process billed as the industry’s first.
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Swapalease.com reports a high number of applicants and a slightly tighter credit market in August. A 68.9% approval rate fell short of July’s 69.1% and represented a 5.1% year-over-year decline.
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PAR North America announced an expansion of its partnership with masterQueue, adding the latter’s skip tracing technology in an effort to increase recovery rates.
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Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.
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Once treated as classified information, factory parts data is now shared freely. Opportunistic franchised dealers are seizing the opportunity by selling unneeded inventory to independent repair shops.
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Motorcars Honda of Cleveland Heights has been purchased and renamed by the nine-store Foundation Automotive group. The Ohio store was recognized by BP as the world’s first carbon-neutral auto dealership in 2016.
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Generali US Branch’s Specialty Insurance Division will offer insurance and obligor services for warranties and service contracts on a global scale in multiple verticals, including automotive F&I.
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Shiraaz Sookralli faces 20 years in prison after admitting to charges of fraud and embezzlement relating to a multimillion-dollar scheme to sell nonexistent Porsches from a South Florida dealership.
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