What the finance company and automaker said was coming back in February became a reality on Wednesday as Santander Consumer USA and Chrysler Group officially launched its new private-label, full-service lending program. Chrysler Capital is designed to offer a broad spectrum of financing services for Chrysler customers and dealers. Under a 10-year, private-label agreement announced […] [Read More]

Edmonton-base dealership group Go Auto announced this week it has opened a new luxury location. The new store, Infiniti South Edmonton, complements the services of Ericksen Infiniti (located on the north side of the city), the company said. With this addition, the Western Canada Go Auto dealership group now has over 30 locations and an […] [Read More]

As its report highlighted the latest battle between popular vehicle segments, Dataium’s newest Automotive Shopper Intensity Index ticked up 0.14 percent in March. As a result, the aggregator of in-market automotive shopper behavior projected the U.S. retail new-vehicle SAAR in April to be 12.3 million units. In March, analysts found the truck, sedan and compact […] [Read More]

City Enterprises, parent entity of City Auto and Dealers Auto Auction, along with Phil Hanks, former president of Primeritus Financial Services, created a joint collaboration resulting in the formation of Connect 1 Recovery, a full service collateral recovery company. Connect 1 Recovery is headquartered in Nashville, Tenn., and operates in Maryland, Tennessee, Georgia, Texas and […] [Read More]

Polk recognized four employees on Monday for their commitment and contributions within the global automotive market intelligence company and appointed them to new roles within the organization. Among the developments, Marc Bland, diversity and inclusion; Theresa Gorman, sales and client services for the Eastern region; and Anthony Pratt, forecasting for the Americas, have been promoted […] [Read More]

More evidence of just how long in the tooth the fleet of vehicles in operation is nowadays arrived through a new AutoMD.com survey, showing how much service work might be in the market. The site broke down its survey results by categorizing DIYers (do it yourselfers) and DFMers (do it for me’s).  Among DIYers, 44 […] [Read More]

Planning on attending the Used Car Week 2013 conferences? Attendees are in for a treat, as the Used Car Week Golf Outing will be held this year at Torrey Pines'  highly acclaimed South Course. Located in La Jolla, Calif., Torrey Pines Golf Course (http://www.torreypinesgolfcourse.com/_tpgallery/about.htm) sits on the coastal cliffs overlooking the Pacific Ocean. The golfing […] [Read More]

DriveTime Automotive Group is one example of how much the subprime auto finance market has bounced back since the deepest point of the last recession. The company often caters to deep subprime customers as buyers attached to contracts with a rating of A+ had an average credit score of 556, according to its 2012 annual […] [Read More]

Three members of Lithia Motors' management team all voiced strong opinions about the Consumer Financial Protection Bureau's recent guidance on indirect auto lending and dealers' role in retail vehicle sales. All three reiterated not only their own processes but how the dealer body as a whole works with lenders to originate loans to help buyers […] [Read More]

The Securities and Exchange Commission on Thursday charged Capital One and two senior executives for understating millions of dollars in auto loan losses incurred during the months leading into the financial crisis. Officials said an SEC investigation found that in financial reporting for the second and third quarters of 2007, Capital One failed to properly […] [Read More]