Archive | Auto Industry News

Zero Percent Finance Deals Drop to 13-Year Low

SANTA MONICA, Calif. — Zero percent finance deals were slower to materialize for car shoppers in July, according to the latest report from Edmunds. Zero percent finance deals accounted for 6.92% of sales in July 2018, compared to 11.34% in July 2017 and 11.18% in ... Read More »

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TradeRev, CarsArrive Offer Free Vehicle Transportation

CARMEL, Ind. — Digital auction platform provider TradeRev partnered with CarsArrive Network to save dealers money while fostering an expanded, coast-to-coast auction marketplace, the companies announced. TradeRev is offering free vehicle transportation for dealers purchasing vehicles in qualifying states. TradeRev and CarsArrive Network are business units of ... Read More »

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FTC Charges Arizona Group With Falsifying Incomes on Consumer Credit Apps

WASHINGTON, D.C. — Three weeks after announcing the completion of a seven-state sweep regarding compliance with its Used Car Rule, the Federal Trade Commission announced on Wednesday it has charged a group of four dealerships with a range of illegal activities, including falsifying consumers’ income ... Read More » Tags: , ,

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KBB: Avg. Transaction Price in June Rises 3%

IRVINE, Calif. — Thanks to market demand quickly backing away from cars, average transaction prices in July rose 2.9% from a year ago, or $985, to $35,359, Kelley Blue Book reported this week. Cars are expected to make up only 31% of July sales, down ... Read More » Tags: , , ,

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Bridget Townsend Joins Rapid Recon

PALO ALTO, Calif. — Retail automotive software development leader Bridget Townsend has joined Rapid Recon as vice president of development, the company announced. “Bridget is a well-established innovator with a remarkable record of leveraging software to bring operational and profitability solutions to auto retailers. Before choosing to ... Read More »

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Registration Now Open for PALS 2018

ORLANDO, Fla. — Organizers of the annual P&A Leadership Summit announced that registration for the 2018 event, scheduled for Oct. 8–10 at the Caribe Royale Orlando in Orlando, Fla., is now open at the event’s website. First held in 2013 as the successor to the former VSCAC ... Read More » Tags:

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