More subprime paper in the entire credit mix produced small increases in numerous default rates, but not to a point that triggered warning from S&P Dow Jones Indices and Experian. Data through August showed the auto segment of the S&P/Experian Consumer Credit Default Indices ticked up 4 basis points on a sequential basis to land […] [Read More]

The reported acknowledgement by the Consumer Financial Protection Bureau that its use of disparate impact could over-count potential discrimination by indirect auto finance companies continues to churn the industry’s frustration with how the regulator operates. Paul Metrey, chief regulatory counsel at the National Automobile Dealers Association, reiterated his position after American Banker reviewed a series […] [Read More]

The National Automotive Finance Association enjoyed another great turnout for the opening module of its Consumer Credit Compliance Certification program. The most recent session last week in Irvine, Calif., drew 78 participants from 55 different companies. Hudson Cook partner Patty Covington, one of the instructors for the opening module of the four-part training endeavor, told […] [Read More]

The National Auto Auction Association inducts its new president at the NAAA Annual Convention this week. Mike Browning, the general manager of Manheim San Antonio, has spent a year in the president-elect role for NAAA and is well prepared for his tenure as president. Auto Remarketing reached out to Browning in August to gain insight […] [Read More]

Edmunds.com announced the hiring of four new additions to its executive leadership team today, bringing in a mix of individuals with automotive experience as well as from other industries. Billed as a pathway to bring a "fresh perspective" to the company and its efforts to enhance dealer business, the four new executive hires and their […] [Read More]

It’s only Day 1 of the NAAA Convention and there have already been big stories coming out of the auction world as the convention hotel stirs with more activity. The latest are two industry awards that the association shared Tuesday. NAAA announced its Marie Hingst Exhibitor of the Year for 2015, awarding the honors to Ron […] [Read More]

ADESA subsidiary AutoVIN chose what it dubbed to be a seasoned and experienced leadership team on Tuesday for the company’s expanded operations in Canada and the U.S. Officials highlighted the AutoVIN leadership team now is led by Richard Carpentier, chief operating officer and senior vice president of operations across North America. A familiar name in […] [Read More]

CarMax managed to keep its gross profit per used vehicle turned above $2,100 during a quarter that saw the company’s retail sales climb more than 9 percent. According to the company’s second-quarter financial statement released on Tuesday, CarMax’s total used vehicle unit sales grew 9.2 percent, and comparable store used unit sales increased 4.6 percent […] [Read More]

Dodge, in partnership with the well-known actor Danny Trejo, have organized a campaign that not only aims to boost test drives at several of its southern California locations, but will also give back to a worthy cause fitting to the locale. Via its “It’ll Test You” Hispanic marketing campaign, Dodge and Trejo have partnered with […] [Read More]

Bel Air Auto Auction has broken grown on its new facility in nearby Riverside, Md. The auction held a groundbreaking ceremony on Sept. 16, parent company BSC America announced. The new Bel Air Auto Auction facilities will tout a 75,000 square foot, 10-lane auction facility, as well as a 35,000-square-foot mechanical and body shop. BSC […] [Read More]