Finalists for the WheelsTV 2012 Pre-Owned Vehicles of the Year Award have been named, with vehicles from Toyota, Mazda and Chevrolet claiming spots on the six-category list. The POV of the Year Award recognizes pre-owned vehicles proven as dependable by providing trouble-free service and good consumer value in day-to-day use for at least two years. […] [Read More]

Announced this week, Innovative Funding Services has teamed up with fleet management company PHH Arval. Through this partnership, PHH will offer IFS as a potential funding source for its clients’ employees wishing to purchase their fleet vehicles, officials explained. [Read More]

As high gas prices lead consumers to search for fuel-efficient models that still fit their needs, NADAguides has compiled a list of what it contends are the most versatile 2012 models on the lots. The list of the top 10 most versatile vehicles from NADAguides also aims to be budget friendly, with all units coming […] [Read More]

AutoCanada Inc. announced earlier this week that its plan to buy a non-voting equity interest in an Edmonton, Alberta Chevrolet dealership has been given the OK from General Motors of Canada. This marks AutoCanada’s first investment with a GM Canada store. The purchase will be for a 31-percent non-voting equity stake in Nicholson Chevrolet, which […] [Read More]

Used-vehicle trade-in values have been relatively high as of late, according to analysis provided by the National Automobile Dealers Association, which said these strong values are among a slew of factors projected to drive stronger new-vehicle sales in coming months. After touching on the influence of gas prices, economic gains, an aging vehicle fleet and […] [Read More]

Thanks to the higher-than-projected residual values of its vehicles, Avis Budget Group’s adjusted EBITDA has hit “record levels,” the company said Tuesday as it reported preliminary first-quarter earnings results. More specifically, Avis Budget said — based on preliminary findings — that it pulled in about $119 million in adjusted EBITDA for the first quarter, a […] [Read More]

Automakers have significantly pulled back on incentive spending, which dropped to a six-and-a-half-year low in April, according to Edmunds.com. This trend bodes well for the industry, as it likely means consumers are hungry to buy and don’t need incentives to push them along, the firm emphasized. Specifically, Edmunds found that the True Cost of Incentives […] [Read More]

Digital Recognition Network recently rolled out a new offer to its affiliates — an equipment upgrade program that can allow repo agents to utilize the next generation of the company’s license-plate recognition camera kits at a significantly discounted price. The program details include: —Discounted LPR camera kit prices. —Raptor II Two Camera Kit: Credit of […] [Read More]

LEAP Financial, a vehicle leasing company that serves consumers who have difficulty obtaining credit, recently tallied up the estimated lender benefits from its recovery program. During the 12-month period that ended March 31, the company indicated the average lender benefit for each customer that settled with LEAP was approximately $1,900, totaling a sum of more […] [Read More]

Along with enhancing its consumer underwriting teams, Ally Financial declared today that it is increasing wholesale credit lines for dealers to take advantage of the U.S. auto market momentum. Ally indicated that it expanded wholesale limits for more than 40 percent of its U.S. dealer clients in the first quarter. “The flexibility in our credit […] [Read More]