The president of the Chrysler Group National Dealer Council believes the OEM’s announcement that it will not renew its current auto finance operating agreement with Ally Financial is part of the business process. The automaker’s decision means that Ally will no longer be the preferred lender for consumer loans and leasing, as well as for […] [Read More]

I’m writing this blog post from AIADA’s headquarters, just outside of Washington, D.C. I made the trip out east in order to touch base with the AIADA staff, attend a few meetings and get a sense of what is happening in our capital that could impact dealers. On Tuesday, my first day in town, the […] [Read More]

With the deadline to file personal federal income tax forms having passed more than a week ago, Manheim economist Tom Webb answered dealer questions about activity connected to refunds. In his April Auto Industry Brief, Webb first shared the dealer inquiry he received. “My used-vehicle operation had a better-than-more normal tax refund season,” the dealer […] [Read More]

As panelists emphasized at the recent Auto Remarketing Canada conference presented by CarProof, supply is tight for dealers in Canada. And that’s impacting everything from retail pricing and wholesale costs to sourcing strategies and dealer grosses. “Historically, we know what happened back in ’08 and ’09: there just weren’t any new cars. As a result, […] [Read More]

According to an article written by Credit Union Times’ Michelle Samaad, credit unions seem to be benefiting from used-car loans’ recent strong portfolio performance. And Samaad even went on to write that some credit unions are seeking “nontraditional” methods to keep the lending surge going and returning to residual financing methods as the economy continues […] [Read More]

Automotive Finance Corp. revealed the grand prize winner of its Fee Free Flooring for a Year Contest Tuesday. Winning the campaign was Said Barzegar of Eurosport Auto located in San Jose, Calif., a rooftop serviced by AFC Cal’s San Francisco branch overseen by Tony Souza. Officials highlighted Eurosport Auto has been an AFC customer since […] [Read More]

In another sign repossession volumes could be softening, the American Bankers Association discovered that consumer delinquencies fell in all 11 loan categories the association tracks — including auto loans. According to the fourth quarter Consumer Credit Delinquency Bulletin, the composite ratio — which tracks delinquencies in eight closed-end installment loan categories — fell 10 basis […] [Read More]

The Consumer Financial Protection Bureau recently released a bulletin clarifying that financial institutions under federal supervision may be held responsible for the actions of the companies with which they contract — including operators such as skip-tracers and repossession agencies. The CFPB said it will take a close look at service providers’ interactions with consumers and […] [Read More]

When Harris Interactive released the results of its 2012 Harris Poll EquiTrend study recently, one particular European car brand celebrated its second straight year claiming top honors among luxury automakers, while a Japanese brand displaced a Big 3 rival atop the rankings of full-line automakers. Winning the Luxury Automotive category this year was Mercedes-Benz, while […] [Read More]

Cars.com has predicted that the 2013 Nissan Altima may surpass the Toyota Camry for a title the latter has held for the past 10 years. The site’s analysts noted they are expecting a significant increase in sales for the newly redesigned Altima, which could result in the unit being named the best-selling sedan in the […] [Read More]