While the overall figure decreased on both a sequential and annual basis, the American Bankruptcy Institute attempted to find the source as to why total U.S. commercial bankruptcy filings spiked 32 percent year-over-year in May. According to data provided by Epiq Systems, commercial filings totaled 3,358 in May, up from the 2,550 filings recorded last […] [Read More]

Loyalty. A strong feeling of support or allegiance. Loyalty is devotion and faithfulness to a cause, country, group or person. Book after book has been written on the topic of loyalty. But what is loyalty and what does it mean to you?  Keeping customers makes good business sense, but it’s not easy to do. We […] [Read More]

Officials highlighted IsItFrame — the service offered by the National Auto Auction Association through AutoIMS — is now available as an on-demand, system-integrated Web service. With time savings in mind, AutoIMS created this new Web service offering to allow auction management systems and Internet-connected CR-writing applications to automatically retrieve an answer from the IsItFrame database. […] [Read More]

Cox Automotive is expanding its Drive Away Hunger initiative in Canada. Under Cox Automotive Canada’s Cox Cares initiative, the company’s business units throughout Canada will team up with local food banks to raise money and food donations. In a program that started Monday that will run through June 23, employees will collect the items Canadian food banks have […] [Read More]

Rising compliance costs could be a blessing in disguise for big, established subprime auto finance companies, said Jason Kulas, chief executive officer of Dallas-based Santander Consumer USA. That’s because in the long run the cost of meeting tougher regulations could serve as an additional barrier to entry for subprime startups, on top of typical drawbacks […] [Read More]

Cox Automotive joined the National Independent Automobile Dealers Association to present the sixth annual NIADA and Cox Automotive Community Service Award to Boise, Idaho-based Fairly Reliable Bob’s Inc. during the 70th NIADA Convention and Expo in Las Vegas this week. The award recognizes an independent dealership deemed to have demonstrated exceptional commitment to the community […] [Read More]

Quantech — a privately held company and developer of dealer management tools — recently added enhanced menu features to Q-F&I Online. Quantech general manager Mike Martin said the completed modifications include the largest menu enhancement to Q-F&I Online since the product’s launch in 2013. Among the features are: — Live menu editing from the presentation […] [Read More]

To describe the plight of the minivan, TrueCar’s Eric Lyman invoked the late, great king of one-liners. “To say that minivans have been the ‘Rodney Dangerfield’ segment of the auto market for many years, in terms of not getting the respect they deserve, is an understatement,” he said in a news release accompanying his company’s […] [Read More]

What do you do when customers arrive at the showroom and want out of a vehicle lease? Maybe they lost their job and won’t be able to afford the monthly payments. Maybe their current vehicle doesn’t comfortably accommodate their new long-legged love interest while another model currently in inventory might. Maybe they simply no longer need the vehicle. Or perhaps […] [Read More]

Auto Data Direct on Tuesday launched DropClaim.com, a secure, paperless compliance tool for California tow operators and businesses taking possession of towed vehicles, which could include units in the repossession process. The company explained that in January, new state requirements became effective as a result of passage of California Assembly Bill 1222. The new law […] [Read More]