NADA University, the education and training arm of the National Automobile Dealers Association, revealed Thursday its new NADA-ATD (American Truck Dealers) Academy director.  Chosen for the position is Allen Phibbs, who began his new duties Aug. 30. Phibbs replaces James Schoonover, who has been promoted to senior director of dealership operations for NADA. Phibbs brings […] [Read More]

The growing trend of service learning on college campuses got a recent boost via the support of the Ford Motor Company Fund, which is awarding $225,000 in Ford College Community Challenge grants to nine colleges and universities nationwide. The Ford College Community Challenge, or Ford C3, is a national challenge grant competition that recognizes schools […] [Read More]

Edmonton, Alberta-based Carfinco Financial Group Inc. revealed this week it is expanding into the U.S. market with a new acquisition. The company has purchased Massachusetts-based Persian Acceptance Corp. (PAC), an indirect lender in the subprime retail automotive industry, from Peter and Jennifer Miller. Key members of PAC management will remain in place under the continuing […] [Read More]

One of the primary generators of certified pre-owned vehicles — leasing — rose to a level in the second quarter never seen by dealers and finance companies, and more volume could be ahead if a recent online survey is any indication. Experian Automotive reported that of all new vehicles financed in Q2, leases accounted for […] [Read More]

A Florida law firm that specializes in legal services for dealerships offered clarification following two dealers from Maryland and Ohio agreeing to settle the Federal Trade Commission’s charges that they falsely advertised the cost or available discounts for their vehicles. Regulators said that the settlements — part of what they called the FTC’s continuing crackdown […] [Read More]

Who hasn’t seen a group of people in the corner of the showroom fussing about not making enough money? Paul Potratz admitted the negative attitude can spill over to other personnel, dragging down morale of the entire dealership. What’s the best way to counteract that negative vibe? The chief operating officer and founder of Potratz […] [Read More]

Vendor Transparency Solutions and Michael Dougherty of Weltman, Weinberg & Reis announced the date and time for their fourth webinar aimed at helping repossessors and recovery departments remain compliant. The focus of the next session — compliance management as well as unfair, deceptive and abusive acts and practices (UDAAP) — will be covered during the […] [Read More]

Fitch Ratings reported last week that losses on both prime and subprime U.S. auto ABS rose in July following lows seen earlier in the spring. Despite the increase, analysts indicated used-vehicle values have stayed strong in the past two months. "Additionally, overall asset performance remains strong heading into the softer fall months thanks to the […] [Read More]

According to Equifax's latest National Consumer Credit Trends Report, new credit for auto originations between January and May of this year soared to an eight-year high, producing an increase of more than 15 percent from same time a year ago. Equifax also indicated the total number of new loans during that span came in at […] [Read More]

Have a slew of “ups” arrived on your lot or messaged your BDC looking for a used Toyota Prius? If they haven’t already, trends spotted by Kelley Blue Book show there is plenty of interest in the hybrid. Among the top 10 models generating the most shopper activity growth at KBB.com last month, a total […] [Read More]