Latest Online Edition  Read Here

THE GOOD FIGHT: Paul John, executive director of the Georgia Independent Automobile Dealers Association, discusses how the association fought against state legislation that would have raised the taxes on used-car purchases.

buy here

Latest News

CarMax Invests in Repair Firm Featured

Tuesday, 28 November 2017 23:50
CarMax Inc. is expanding its commercial relationship with RepairPal, a provider of auto service and repair via a network of RepairPal Certified shops. Additionally, CarMax has made a minority investment of $5 million as the lead in a new round of financing for RepairPal. Through this partnership, CarMax will provide its customers access to the RepairPal Certified shop network resulting in additional trusted, quality and fair-priced service and repair locations. This investment follows several months of successfully partnering with RepairPal to offer Los Angeles customers the convenience of more service options.

CarMax Expands in Northwest Featured

Tuesday, 21 November 2017 23:47
CarMax Inc. celebrated the grand opening of the company’s third store in the Seattle market. The store is located at 3751 E. Valley Rd. in Renton and has the capacity to stock approximately 300 used vehicles.In celebration of the Renton store grand opening, CarMax and The CarMax Foundation awarded $15,000 in donations and grants to the Boys & Girls Clubs of King County. Support for this organization came at the recommendation of the Renton CarMax associates.CarMax will also be donating an Imagination Playground valued at more than $15,000 to the South Park Community Center, through its partnership with Kaboom to make play more accessible to children and families.

Popular News

Carvana Co. announced its expansion into Tucson.This is the company’s…
Carvana launches its 40th market in four years.The online retailer…
CarMax Inc. is expanding its commercial relationship with RepairPal, a…
Carvana Co. has entered into an agreement to raise $100…

Car-Mart Reports Improved Earnings, Flat Revenue Featured

Saturday, 18 November 2017 16:44
America’s Car-Mart reported net earnings of $6 million for the quarter ended Oct. 31, up from $5 million for prior year quarter.Revenues were $149 million compared to $150 million for the prior year quarter. The current quarter includes a $1.7 million increase in interest income and same-store revenue increase of 0.6 percent.Sales volume productivity was flat with 28.4 retail units sold per store per month.Average retail sales price decreased $73 from the prior year quarter to $10,418.Gross profit margin percentage increased to 42 percent from 41.4 percent for the prior year quarter.Collections as a percentage of average finance receivables decreased to 12.2 percent from 12.6 percent for the prior year quarter.  The weighted average contract term increased to 32.5 months from 31.7 from the prior year quarter and decreased from 32.6 for the July 31 quarter.Net charge-offs as a percent of average finance receivables were 7.5 percent, down from 7.7 percent for prior year quarter.Accounts over 30 days past due decreased to 4.1 percent from 4.8 percent at Oct. 31, 2016.Average percentage of finance receivables current was 80 percent, flat from Oct. 31, 2016.Provision for credit losses was 29.7 percent of sales vs. 29.6 percent for prior year quarter.Selling, general and administrative expenses were 18.2 percent of sales vs. 17 percent for prior year quarter.

Carvana Marks Milestone Featured

Thursday, 16 November 2017 23:40
Carvana launches its 40th market in four years.The online retailer started operations in Bakersfield, Calif. This is Carvana’s second market in California.
Carvana Expands in Arizona

Carvana Expands in Arizona

Carvana Co. announced its expansion into Tucson.This is the company’s second market in Arizona. Carvana has delivered vehicles to customers in 48 states, and offers free, as-soon-as-next-day delivery to residents...

Dealers Use In-House CRM to Drive Sales

Dealers Use In-House CRM to Drive Sales

Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have...

  • CarMax Moves into New Market
    CarMax Moves into New Market CarMax Inc. celebrated the grand opening of its first store in Michigan, located in Kentwood at 4431 28th Street. The Kentwood store will have the capacity to stock approximately 200…
  • DMS Incorporates Carfax
    DMS Incorporates Carfax Auto/Mate Dealership Systems has integrated its dealership management system with myCarfax Service Shop tools to help their dealer customers increase the success of their fixed operations. This enhancement makes it…
  • CarMax Opens Store in Northeast
    CarMax Opens Store in Northeast CarMax Inc. celebrated the grand opening of its new store in Albany, N.Y.The store is located at 1860 Central Ave. The Albany CarMax has the capacity to stock approximately 200…
  • CarMax Grows in California
    CarMax Grows in California CarMax Inc. is currently hiring more than 40 associates for the company's third store in the Bay Area of California. The store, scheduled to open in November, will be located…
  • CarMax Reports Higher Sales, Revenue
    CarMax Reports Higher Sales, Revenue CarMax Inc. reported higher sales and revenue for the second quarter ended Aug. 31. Net sales and operating revenues increased 2.9 percent to $4 billion. Used unit sales in comparable…
  • TV Host Takes Cheap Shot at Dealers
    TV Host Takes Cheap Shot at Dealers The latest attack on subprime automobile dealers came in the form of HBO’s satirical news/comedy show “Last Week Tonight with John Oliver” on Aug. 14. The 17–minute segment slammed the…

    Auto Lending: Last Week Tonight with John Oliver (HBO)
  • Carvana Moves into Midwest
    Carvana Moves into Midwest Carvana announced its expansion into Columbus, Ohio. This launch marks the company’s first market in the Midwest region and first in the state of Ohio. Columbus marks Carvana’s seventh new…
  • Carvana Partners with Credit Union
    Carvana Partners with Credit Union Carvana has partnered with LGE Community Credit Union. Through the partnership, LGE members can browse Carvana's online inventory of vehicles and purchase a car and have it delivered to them…
  • Dealers Use In-House CRM to Drive Sales
    Dealers Use In-House CRM to Drive Sales Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have…
  • America’s Car-Mart Moves Fewer Units
    America’s Car-Mart Moves Fewer Units America’s Car-Mart Inc. reported net income of $7.1 million in the quarter ended July 31.The buy-here, pay-here chain reported revenues of $146 million compared to $143 million for the prior…