Westlake Financial Services made public statements late Thursday after the Consumer Financial Protection Bureau penalized the subprime auto finance company and its auto title lending subsidiary Wilshire Consumer Credit for pressuring borrowers using what the regulator deemed to be illegal debt collection tactics. First off, Westlake offered context of the matter that became public and […] [Read More]

Every brand reporting CPO results to Auto Remarketing Canada enjoyed certified sales lifts last month, with two automakers securing records. Subaru Canada notched an all-time record month in September, selling 189 CPO vehicles, compared to the 39 that were delivered in September 2014. This brings Subaru Canada’s CPO program to a year-to-date total of 953, […] [Read More]

Autobytel has added to its coffers yet again with the purchase of AutoWeb, a company that provides  “an auction-based click marketplace” of in-market shoppers to dealers and automakers. Autobytel, which previously owned about 15 percent of AutoWeb’s outstanding capital stock, purchased the company in an all-stock deal. Autobytel said in its news release Thursday that […] [Read More]

The second significant Consumer Financial Protection Bureau enforcement action of the week in the auto finance space hit one of the largest players in the subprime market — Westlake Financial Services. On Thursday, CFPB punished Westlake and its auto title lending subsidiary Wilshire Consumer Credit for pressuring borrowers using what officials deemed to be illegal […] [Read More]

The VW emissions scandal — or Dieselgate, as the public has dubbed it — continues to unfold, as the automaker reported a shift in leadership last week and continues to be hounded by regulators across the globe. For example, on Sept. 22, the Government of Canada opened an investigation into VW’s alleged use of defeat […] [Read More]

AutoCanada Inc. announced earlier this week that it has reached an agreement to acquire the operating assets of a Chrysler Dodge Jeep Ram dealership in Spruce Grove, Alberta. The dealership, Grove Dodge Chrysler Jeep Ltd., otherwise known as Grove Dodge, is owned and operated by Terry Martens and Josh Davis. AutoCanada says Davis will remain […] [Read More]

The number of quality used vehicles at auction hasn’t expanded much this year, and initial positive forecasts for loosening supply in 2015 have been proven wrong. Consequently, prices at auction are still on the way up. That said, residual reports do show expected price drops in the coming years — but buyers will have to […] [Read More]

Julian Codding, a member of the National Alliance of Buy-Here, Pay-Here Dealers Hall of Fame, recently decided to retire from a full-time commitment to his BHPH dealership, closing the lot and waiting for the remaining contracts to reach their terms. To begin a two-part series from BHPH Report, Codding discussed the two most important individuals […] [Read More]

To borrow some dealership vernacular, the delivery of Dealertrack Technologies to Cox Automotive finally rolled over the curb on Thursday morning. Cox Automotive said it completed its acquisition of Dealertrack in an all-cash tender offer to purchase all of the outstanding shares of Dealertrack. The transaction is valued at approximately $4 billion, or $63.25 per […] [Read More]

Continuing the theme of digital proliferation in the automotive industry, The Appraisal Lane announced Wednesday that the Gettel Automotive Group in Florida is the newest dealer group to put the company’s trade and communications platform solutions to task.  Gettel has rolled out the The Appraisal Lane system  across all 11 of its dealerships in the Sarasota, […] [Read More]