Wholesale

RED DEER, Alberta — Canadian auto lender RIFCO said its fiscal year that ended March 31 marked the fourth straight time the company has enjoyed annual profits, though this net income was down from the prior-year period.  More specifically, the company reported net income of $308,962 for the fiscal year, which is 78.2 percent softer compared with $1.42 […] [Read More]

WASHINGTON, D.C. — Even after multiple delays, the government is apparently not yet ready to enforce the Red Flags Rule. Another postponement for enforcement was issued on Friday after several members of Congress urged the Federal Trade Commission for yet another delay. [Read More]

SAN DIEGO — After revealing in late May that it would be offering free auto accident reports via mobile devices through the end of June, instaVIN announced Thursday that this special deal is now good until July 31. How does this work? To find out the accident history of a particular vehicle, users can text the […] [Read More]

VANCOUVER, Wash. — FinishFirst Auto Appearance Inc., a company that specializes in paint reconditioning services designed to help dealers get used vehicles ready for sale, is offering franchise opportunities. Specifically, the company is inviting "auto industry enthusiasts and entrepreneurs alike" to become part of the team. "As the automobile industry has evolved over these most recent […] [Read More]

AUBURN HILLS, Mich. — Chrysler Group this week reiterated claims that it's following legal procedures with dealers correctly and is "looking forward to moving beyond the arbitration process." The automaker indicated through a spokesperson that fewer than 30 cases remain to be arbitrated. As of Tuesday, Mike Palese also revealed 59 case decisions have been rendered, […] [Read More]

MEDFORD, Ore. — Lithia Motors said it took a step toward fostering growth Tuesday as it amended its revolving credit facility with US Bank. The amendments include the maturity date being pushed back almost three years, a boost to the amount on the facility and a decrease in the interest rate. More specifically, the maturity date is now June […] [Read More]

SANTA BARBARA, Calif. — Bearing in mind Ford's plans to end the Mercury brand later this year, ALG recently shared data in its latest Residual Value Report that sheds some light on what may happen to the discontinued brand's value retention.  When a brand is cut from an automaker, the three subsequent years usually show the brand losing between […] [Read More]

CARY, N.C. — The Pre-Owned Automobile Dealers Alliance reached a significant milestone for its membership this week, as it welcomed its 500th dealer member to the alliance, just nine months after the first dealer joined POADA.  "We are thrilled to see that in less than a year, 500 dealers have recognized the value of what we […] [Read More]

OAK BROOK, Ill. — vAuto recently celebrated founder and chairman Dale Pollak taking home honors as the 2010 Ernst & Young Entrepreneur Of The Year award for Emerging Companies in the Midwest Region. Included in the Midwest program are Illinois- and Indiana-based companies. Pollak was chosen by an independent judge panel in the Emerging Companies category, […] [Read More]

WASHINGTON, D.C. — In an early morning vote Friday, House and Senate leaders decided to exempt dealers from consumer financial protection agency oversight. While this leaves many dealers relieved, buy-here, pay-here dealers remain under the gun. They are not exempt. The combined legislation will now go House and Senate for a vote and is expected to […] [Read More]