Penske Automotive Group's service and parts operations raked in roughly $260.3 million in overall retail automotive gross profit during the first quarter of 2015. This marked a 5.8-percent year-over-year increase and also accounted for 41.4 percent of the company’s gross profit mix in the quarter. When asked how much of a tailwind recall services were adding the parts and service business at […] [Read More]

Announced at the recent Auto Remarketing Canada Conference in Toronto, CarProof, the event’s lead sponsor, will be heading up “The Transparency Advantage,” or TTA, an industry think tank committed to innovation and forward movement in the automotive market. The organization and its members will work together to examine the current state of the industry, identify […] [Read More]

Announcing the second relationship with an automaker in less than a week, Ally Financial forged a new alliance with Aston Martin The Americas on Friday by launching a closed ended lease and retail finance program to U.S. customers. Ally has been named the preferred financing source for the British luxury automaker and will offer its […] [Read More]

Coinciding with the company offering more than 22.7 million shares of common stock to help to pay for the acquisition, Springleaf Holdings acknowledged this week that its intended purchase of fellow subprime institution OneMain Financial Holdings is running into some regulatory hurdles. In a filing sent to the Securities and Exchange Commission, Springleaf indicated it […] [Read More]

Along with discussing current industry trends and challenges and new product innovation, as well as sharing best practices, EFG Companies handed out a new award during its fifth biannual Agent Council at the Rancho De los Caballeros outside of Phoenix. In EFG’s efforts to provide productive solutions in building agent profitability, the company created the […] [Read More]

Consumer Portfolio Services recently announced it entered into a new two-year revolving credit agreement with Fortress Credit Co. worth $100 million. Officials highlighted the new agreement replaces a revolving credit agreement that CPS has used since December 2010, in which Fortress was a lead agent and lender. The company indicated loans under the new credit […] [Read More]

A well-established service provider in the buy-here, pay-here market formed a new strategic alliance with a start-up consulting agency with the aim of helping operators nationwide. Dealership software provider AutoStar Solutions forged a relationship this week with KISS Concepts Group to represent the AutoStar Fusion Ignite dealer management system (DMS) to independent dealerships throughout the […] [Read More]

At last week’s Auto Remarketing Canada Conference, dealer-to-dealer auctions were a hot topic as new marketplaces have been popping up right and left, providing more wholesale options for buyers. After a dealer-to-dealer marketplace focused panel, Auto Remarketing Canada caught up with Cheryl Munce, chief executive consultant at ALTESO, to shed some light on the factors […] [Read More]

TransUnion Canada announced this week that it has named Paul Devereaux as the vice president of financial services. Devereaux, who brings more than 25 years of experience in business development and sales to the position, will be responsible for leading the financial services team throughout TransUnion’s expansion in the Canadian market. “Paul brings extensive experience […] [Read More]

In an effort to help dealers monitor their floor-planning resources more efficiently, NextGear Capital recently announced that it added Kelley Blue Book values to its myNextGear Web and mobile applications. As a result of this integration between the two Cox Automotive business units, NextGear Capital customers can now receive current market-reflective values at no additional […] [Read More]