While new-vehicle sales are expected to increase by over 11 percent for the month of October, TrueCar predicts a slight year-over-year decrease for total used-vehicle unit sales by the close of the month. In an announcement from the company on Wednesday, TrueCar says it expects that total used-auto sales may exceed 3,023,686 units, which, if […] [Read More]

AutoNation continued its upward movement in the number of used vehicles retailed during the third quarter, pushing its total through the first nine months of the year 7.4 percent higher than the same point in 2014. The dealer group reported on Wednesday that it retailed 56,584 used vehicles in Q3, marking a 1.4-percent uptick from […] [Read More]

Ally Financial announced this week it has donated $10,000 to the Granite State Children’s Alliance in honor of this year’s 2015 TIME Dealer of the Year winner. The winner, Andy Crews, is the president and chief executive officer of AutoFair Honda in Manchester, N.H. The selected charity, Granite State Children’s Alliance, operates four child advocacy […] [Read More]

The Consumer Financial Protection Bureau pinched another player in the auto finance space over its debt collection practices. On Wednesday, the CFPB filed an administrative order against Security National Automotive Acceptance Co. (SNAAC), a finance company specializing in loans to servicemembers, for engaging in illegal debt collection practices. Officials indicated the order requires the company […] [Read More]

As of Oct. 1, the Consumer Financial Protection Bureau reported that the agency has handled 726,000 complaints nationally. Along with a closer look at complaints coming from Chicago, officials noted some of the highlights from the statistics in this month’s snapshot report released this week include: • Complaint volume: For September, the most-complained-about financial product […] [Read More]

Dealer Marketing Services, makers of ProMax Unlimited, recently released the first tool in a line of three new consumer credit soft pull products. The first solution is Instant Score, which is fueled through a partnership with Equifax. ProMax highlighted that Instant Score, the first of three new Equifax-powered credit solutions to be released, can function […] [Read More]

Heritage Acceptance Corp., a finance company specializing in purchasing vehicle retail installment contracts through a network of more than 600 dealers throughout the Midwest, named Mike Monaghan as vice president of sales and marketing this week. Heritage highlighted Monaghan brings significant experience in developing new business opportunities and managing teams with proven success. He led […] [Read More]

It was a quarter full of records for Sonic Automotive — an assertion that became clear when company management announced Q3 results on Wednesday. On top of scoring record Q3 income from continuing operations, new retail sales, fixed ops gross profit and more, the company also sold more used retail units in the quarter than […] [Read More]

Sheehy Auto Stores is encouraging shoppers and community members to join in its efforts to feed the needy throughout the Richmond, Va.; Baltimore and Washington, D.C. areas. The dealer group will collect canned goods and non-perishable food at its stores as part of the company’s annual Fall Food Drive. The drive will go through Nov. 12, […] [Read More]

On Wednesday morning, AutoNation announced that the dealer group has signed an agreement to acquire 12 stores, including 31 franchises, in six Texas markets from Allen Samuels Auto Group. Officials indicated the dozen stores located in the markets of Houston, Dallas-Fort Worth, Corpus Christi, Tyler, Ennis and Waco represent approximately $800 million in annual revenue […] [Read More]