On Tuesday, the National Automobile Dealers Association reported on the election results for its 2013 chairman and vice chairman positions. NADA has chosen David Westcott of North Carolina as its newest chairman, and Forrest McConnell III as vice chairman for 2013. The election  took place at a meeting of NADA’s board of directors in Chicago. […] [Read More]

For the fourth straight month, Subaru leads the pack with an A-plus in both manufacturer and brand rankings in TrueCar.com’s Performance Scorecard program. In the manufacturer grading in the September rankings that were released this week, tying for second place were Toyota and BMW, both of which earned an A for the month. Jaguar Land […] [Read More]

What will the remarketing of repossessions be like next year? How did the process of moving these units through the wholesale market unfold this year? Those questions and more will be discussed during the Re3 Conference, which focuses on repossession, recovery and remarketing. In a conference session titled, “Remarkable Remarketing & Repossessions,” some of the […] [Read More]

Manheim chief economist Tom Webb projected repossession volumes will climb next year while also explaining why that growth will be tempered. Webb estimated a “relatively small increase” in repossession volume for 2013, “say in the neighborhood of 75,000 units or so. “To be sure, the number of contracts outstanding has risen,” Webb continued. “There has […] [Read More]

In honor of Breast Cancer Awareness Month, a Pennsylvania dealership group has gone pink, splashing vast pink ribbons across all eight of their buildings.   Smail Auto Group says the pink ribbons are making more than a visual statement: The auto group is also donating $100 for every new and used vehicle sold at Smail dealerships […] [Read More]

Automakers have pulled back significantly on new-vehicle incentives in the last three years, and this has subsequently led to a nice lift in prices on the used-car side, says NADA Used Car Guide senior analyst Jonathan Banks in the latest entry to his Used Car & Truck Blog. Citing numbers from Autodata Corp., Banks noted […] [Read More]

Both Chase and Wells Fargo enjoyed positive developments in connection with their third-quarter auto loan origination volume performances. Starting with Chase, the company indicated its Q3 originations totaled $6.3 billion, a figure 7-percent higher year-over-year and 9-percent higher quarter-over-quarter. The growth left Chase's average auto loan amount as of the third quarter at $48.4 billion, […] [Read More]

Due in part to continuing low demand, especially in Europe — one of its biggest markets — Volvo is halting production for a week this month, the OEM revealed Monday. The company said in a statement it will halt production from Oct. 29 to Nov. 2 at its Torslanda plant in western Sweden, reducing output […] [Read More]

Organizers of Used Car Week have announced that the $200 early registration discount for the week-long series of conferences has been extended through the end of the day on Wednesday. The previous deadline for the early-bird rate at Used Car Week — which consists of three conferences and is set for Nov. 12–16 at The […] [Read More]

The American Bankers Association cautioned that cybercriminals are increasingly targeting small businesses such as dealerships, to transfer funds from accounts and steal private information, a fraud referred to as "corporate account takeover." The association contends that criminals can use spoofed emails, malicious software and online social networks to obtain login credentials to businesses' accounts, which […] [Read More]