Along with making a move connected with their preferred stock, Ally Financial officials opened their new office space located at 500 Woodward Ave. in downtown Detroit this week. The building, named Ally Detroit Center, will be occupied by more than 1,500 Ally employees and third party contractors on 13 floors. The company highlighted the new […] [Read More]

When it comes to holding their values, Acura and Toyota have earned top billing yet again. The two brands won the luxury and mainstream categories, respectively, in the Edmunds.com Best Retained Value Awards, which the firm released on Thursday. The awards are based on the 2016 model-year vehicles with the highest projected residual values after five […] [Read More]

Ken Shilson and Dustin Kerr spent weeks going over performance data from buy-here, pay-here dealerships nationwide along with portfolios from their related finance companies. Now the industry experts have finalized the new Benchmarks and Trends Report that will be shared during next month’s National Conference for BHPH hosted by the National Alliance of Buy-Here, Pay-Here […] [Read More]

Swapalease.com reported on Thursday that lease credit approvals are lower again after a hike in February levels. Site officials indicated lease credit approvals for March finished at 66.7 percent, down from the February mark of 70 percent. The site suspected that lease credit approvals may be falling back into the trend of late 2015, with […] [Read More]

Currently, used-car certification programs are now available through most, if not all, major car manufacturers and are joined by numerous warranty companies touting their own versions of vehicle certification. The certified pre-owned market has broken sales records in each of the past five years, and all data point towards 2016 as another record-breaking year for CPO sales. […] [Read More]

A vivid partisan divide appeared again this week when the U.S. House Financial Services Committee approved a measure that would place budget appropriations for the Consumer Financial Protection Bureau within Congressional jurisdiction. The committee approved what is being called the Taking Account of Bureaucrats’ Spending Act by a vote of 33-20 with the entire opposition […] [Read More]

There’s a new head of Dealertrack’s Canadian operations. The company announced Thursday morning that Richard Evans has been appointed vice president and general manager of Dealertrack Canada, a move that’s effective April 25. Evans was most recently vice president for collateral management solutions at Davis & Henderson. In his new role, Evans will work initially with […] [Read More]

This week, RSR Global launched three new solutions for Canadian dealers — GLOBAL ONE, GLOBAL DRIVE and GLOBAL U.   With the rollout of these solutions, RSR Global highlighted that it now offers a comprehensive suite of easy-to-deploy F&I products and programs, backed by the newest technology to manage and sell, while delivering the training necessary […] [Read More]

Canadian Black Book has a new vice president of research and editorial, with former J.D. Power senior manager Brian Murphy taking over for Josh Bailey. The announcement was made late last month and was effective Tuesday. The company said Bailey “has elected to leave CBB to pursue his passion for travel, continual learning and personal growth.” […] [Read More]

Cox Automotive is expanding its global footprint by acquiring a majority shareholding in Molicar, a Brazilian vehicle valuations business. Based in Sao Paulo, Cox Automotive said Molicar is widely acknowledged as setting the “industry standard” for valuations in Brazil and represents a strategic fit for the company, which already owns the Kelley Blue Book brand […] [Read More]