When a shopper buys a new-vehicle these days, the person will typically keep the car close to six years, according to Polk, which said vehicle ownership periods have never been this high. In examining vehicle registration data for the third quarter of 2011, Polk found that consumers are now holding on to vehicles they purchased as new […] [Read More]

The Consumer Financial Protection Bureau recently announced a proposed rule to include debt collectors and consumer reporting agencies under its nonbank supervision program — marking the first time these consumer financial market participants are subject to federal supervision. The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, authorizes the CFPB to […] [Read More]

While also predicting repossessions should trend upward again, Manheim chief economist Tom Webb explained why lenders didn’t sustain as much of a loss when a loan contract went south during the past two years. Webb stated that “in those cases in which repossessions did occur in 2010 and 2011, lenders experienced a significant reduction in […] [Read More]

GE Capital Fleet Services recently announced its customer cost savings for the full year of 2011. The total amount of identified savings was  $347 million, with optimal vehicle cycling for fleets yielding the highest cost savings of more than $124 million for the year, officials revealed. [Read More]

Now in its fourth year of honoring top women leaders in the industry, Auto Remarketing is continuing this tradition of recognizing excellence by now opening the nominations for its 2012 Women in Remarketing Class. Auto Remarketing’s April 15 edition will be dedicated to honoring women’s contributions to the used-car, remarketing, auction and auto finance industry. No […] [Read More]

A typical four-door sedan might work just fine as a commuter vehicle, but it’s obvious the president needs more than just a gas-sipper to get to and from the White House and other destinations. With today marking President’s Day, Cadillac recalled how throughout history the brand has played a significant role in transporting U.S. presidents […] [Read More]

ClassicCars.com announced late last week that the online collector/classic car marketplace has reached a new milestone. The aggregate value of the inventory on the site now is more than $1 billion, officials noted. “Reaching one billion dollars in inventory is a tremendous milestone for us and for our industry,” stated chief executive officer Roger Falcione. [Read More]

Dollar Thrifty Automotive Group revealed late last week the completion of a new five-year $450 million senior secured credit facility that “significantly enhances the company’s liquidity, as well as its operating and financing flexibility,” according to officials. [Read More]

Late last week, Ford Motor Co. was named as one of America’s top corporations for its support of women-owned suppliers. "Building a financially healthy, diverse supply base is a central part of the Ford purchasing strategy," said Tony Brown, group vice president for Ford Global Purchasing. "We are proud to receive this recognition, and we […] [Read More]

Reporting fourth-quarter and full-year 2011 fiscal results on Thursday, General Motors had a banner year — increasing net income by $2.9 billion — and appears to be moving further past its bankruptcy-era struggles. And based on what analysts have said in reaction, GM could climb even further, though it likely won’t come easy. [Read More]