Dealertrack reports loan approval rates continue to trend upward as of the end of December, capping a year in which the availability of dealer-arranged financing improved by 3.6%. +
CarMax’s new interim CEO says the used car retailer will reduce its margins to lower prices and spend more money on advertising geared toward private-party sellers. +
Three franchised dealerships in Ottawa, Ill., were purchased from Bill Walsh Automotive Group by Home Run Auto Group in early December only to be resold weeks later. +
Daniel Winchell, the former owner of three Northwest Iowa dealerships, was accused of selling vehicles out of trust and charged with multiple counts of theft and ongoing criminal conduct. +
A CDK survey finds more dealers are familiar with and investing in AI-powered tools, particularly those designed to address communication, scheduling and workload issues. +
Lithia Motors will pay restitution to customers of five dealerships plus a $300,000 civil penalty to settle charges related to fees not included in advertised vehicle prices. +