As lenders and trade associations look to get a handle on what the regulatory body might do, a Texas bank and two advocacy organizations joined forces last week to file a lawsuit in U.S. District Court in hopes of proving the Consumer Financial Protection Bureau is unconstitutional. [Read More]

Illinois repossession agents and recovery professionals are bracing for the state’s new Collateral Recovery Act to go into effect. The new law requires agents to become licensed through the Illinois Commerce Commission. The law officially goes into effect on July 1, but states regulators attempted to alleviate agents’ concerns about filling out paperwork to be […] [Read More]

Earlier today, Sonic Automotive announced pricing of its private offering of $200 million in aggregate principal amount of 7.00 percent senior subordinated notes due in 2022 to qualified institutional buyers. Officials explained the notes were priced at 99.110 percent of the principal amount thereof, resulting in a yield to maturity of 7.125 percent in an […] [Read More]

Dealers hoping to shore up their supply of luxury used vehicles are likely to be waiting quite a bit longer. In a recent special report, the National Automobile Dealers Association said the next increase in used luxury supply isn’t expected to happen until 2014. In fact, used-luxury supply is projected to decline 13 percent this […] [Read More]

Under a partnership between EasyCare and Carfax announced Monday, Carfax Vehicle History Reports will automatically be included in the CoVideo video email tool from EasyCare. This means that dealers who use EasyCare CoVideo and Carfax can immediately pass this information along to customers on their websites or through personalized videos sent in response to Internet […] [Read More]

As the automotive industry is on the rebound after years of struggle following the 2008 recession, which two brands have made the best comebacks? According to the results of the 2012 Harris Poll EquiTrend study, both Mercedes-Benz and Honda “reign supreme in successfully harnessing their equity and leading their industries as Brands of the Year.” […] [Read More]

As used-car prices begin to lower after having been rather high for so long, consumers may be turning their sights on pre-owned units in the coming months. In light of this trend, Edmunds.com revealed a list of some units the company thinks consumers should keep an eye out for. The site’s 2012 Used Car Best […] [Read More]

With used-car prices expected to fall again this month and May marking the first time pre-owned rates had slid since the beginning of 2012, used vehicles may be looking more attractive to consumers as the summer months roll by. And though many popular used units are still going for more than they have in past […] [Read More]

Porsche Cars North America/Porsche Financial Services revealed this week it has chosen an exclusive provider of off-lease vehicle inspections. Chosen for the position is  floorplan inventory verification and vehicle inspection company DataScan Field Services. The company contends that by selecting DataScan, “Porsche reinforces its commitment to developing a stronger, more transparent end-of-lease process. [Read More]

In the wake of two trade developments announced in the last week that affect Canada, the impact for the country’s car dealers will likely be more indirect, according to Michael Hatch, the chief economist for the Canadian Automobile Dealers Association. It was revealed this week that Canada, along with Mexico, is signing on to the […] [Read More]