While Fitch Ratings said U.S. auto lease ABS residual performance is still producing gains overall through mid-summer despite rising used-vehicle supplies, this week’s update from Swapalease.com about lease approvals wasn’t so positive. In fact, Swapalease.com reported that the 58.3 percent approval rate for vehicle lease credit applicants in July represented the lowest single-month tally so […] [Read More]

Several automakers have reported their latest certified pre-owned sales results to Auto Remarketing Canada, and one of the highlights of the bunch was Audi Canada, which had its strongest July to date. It sold 597 certified cars last month, a 3-percent gain over July 2015.  Through seven months, Audi has sold 3,921 CPO vehicles, a 6-percent hike. Next […] [Read More]

The Justice Department reached a settlement this week with a finance company that repossessed vehicles in violation of the Servicemembers Civil Relief Act (SCRA) — a discovery the DOJ made during an investigation of Santander Consumer USA for similar infractions that generated a $10.5 million settlement. DOJ officials announced that HSBC Finance Corp., as successor to […] [Read More]

For dealerships and finance companies with significant customer bases hailing from Ontario and British Columbia, TransUnion shared some good news this week pertaining to the frequency with which these contract holders are staying current. Ontario and British Columbia consumers are exhibiting robust credit activity through the first half of 2016, according to TransUnion’s latest Canada […] [Read More]

As the direct-to-consumer and peer-to-peer side of online car-buying moves into high gear, so too does the dealer segment of e-commerce. And count Asbury Automotive Group, one of the nation’s largest and publicly traded dealer groups, among those. Asbury has been offering 100-percent online car-buying at select stores through an e-commerce solution from San Francisco-based […] [Read More]

If dealers aren’t already looking through the rental-risk unit run sheet at the auctions where they typically buy inventory, perhaps they should be — considering what might be crossing the block nowadays. “It’s interesting as we note the typical rental-risk unit comprises a much more diverse mix of models, makes and colors than there used […] [Read More]

Brian Geitner is set to become the new president of Cox Automotive’s Media Solutions Group, replacing Jared Rowe, who is leaving the company for an opportunity outside the car business. Geitner moves into the role on Monday and will oversee the Autotrader, Kelley Blue Book and Dealer.com brands.  He will report to Cox Automotive chief […] [Read More]

Re3 Conference panel discussion moderator and Intellaegis president John Lewis needed some time to comb through the debt collection regulation proposal released by the Consumer Financial Protection Bureau about two weeks ago. While much of the CFPB’s latest material is geared toward third-party collections, Lewis cautioned repossession companies that are already struggling to maintain compliance […] [Read More]

Findlay Automotive Group recently purchased a Jaguar franchise to add to its Land Rover Las Vegas store. The franchise was previously owned by Gaudin Automotive Group, which managed it for nearly 30 years. The transaction was completed July 1. Financial details were not disclosed. As the only exclusive Jaguar Land Rover Centre in Southern Nevada, Jaguar […] [Read More]

Like dealers, executive vice president and chief economist of ADESA Analytical Services Tom Kontos is grappling with the challenge of stop-sales, too. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale used vehicle prices in July averaged $10,362 — down 2.0 percent compared to June but up […] [Read More]