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The pre-owned dealer group’s online prequalification portal played a key role in its captive finance company's 7% increase in first-quarter originations. The group is currently testing a home-delivery service as well as an online vehicle appraisal tool.
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The Federal Trade Commission last week approved settlements with CarMax, Asbury Automotive, and West-Herr Automotive Group, which the regulator charged with failing to disclose that some pre-owned vehicles offered for sale had unrepaired safety recalls despite the companies' claims of rigorous vehicle inspections.
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CarMax has opened a store in Murrieta, Calif., that will include a four-lane auction and serve as the West Coast reconditioning hub for the nation's largest retailer of used cars.
Read More →The three retailers agreed to settle FTC charges that they touted rigorous inspections while failing to disclose that some vehicles were subject to unrepaired safety recalls. The FTC also finalizes orders against GM and two other sellers in similar cases settled earlier this year.
Read More →The Silicon Valley Auto Dealers Association has filed an appeal with the San Jose planning department over a proposed CarMax facility, claiming it will “cannibalize” used-car sales.
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Auto Dealer TV's Jennifer Nebrich reports on the passing of Ed Bobit, founder of Bobit Business Media, F&I and Showroom magazine and Industry Summit.
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A coalition of consumer-protection groups asked the FTC to investigate CarMax for selling recalled vehicles. CarMax officials claim the chain is doing the best it can with a broken system.
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A California case illustrates the value of the “cure” statutes that protect dealers in some states.
Read More →Scott Dreisbach - Your stocking guide needs to be based on actual sales rate, not forecasts. This “ideal” stocking guide number should then be compared on a daily basis to the actual availability for each category and model year.
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