Penske Automotive Group has promoted a new chief financial officer. J.D. Carlson, the company’s senior vice president and corporate controller, has been named executive vice president and CFO. This move was made following the announcement that David Jones is resigning from his role as EVP and CFO at Penske to accept a similar role with […] [Read More]

Auto loan defaults dropped to an historic low in May, according to the S&P/Experian Consumer Credit Default Indices released on Tuesday. Analysts for S&P Dow Jones Indices and Experian determined the auto loan default rate dipped by 8 basis points on a sequential basis and 7 basis points on a year-over-year comparison to settle at […] [Read More]

With actions possibly coming against another 11 dealerships in the Big Apple, New York attorney general Eric Schneiderman raked in a multi-million dollar settlement with three dealerships on Wednesday in a development associated with the alleged unlawful sale of credit repair and identity theft prevention services, and other “after-sale” items. Schneiderman reached this settlement with: […] [Read More]

In a move targeted at the subprime market, Spireon on Wednesday formed a strategic partnership with P360, a provider of loan-level data management and analytics. The companies highlighted the collaboration will provide a comprehensive portfolio solution to help auto finance companies to identify, calculate and monitor risk before it affects their business. By coupling P360’s data-driven […] [Read More]

TRADER Corp. recently announced it is renewing its partnership with U.S.-based solutions company, vAuto, extending their relationship for another five years in an effort to help dealers address their used-vehicle inventory management challenges. Through the agreement, TRADER will continue being the exclusive Canadian reseller of the vAuto product suite, and vAuto will maintain their ongoing […] [Read More]

AutoServiceJobs.com announced the launch of its site today, providing a platform to connect auto-industry professionals across the nation. The site aims to connect mechanics, technicians, sales personnel, client advisers and other industry professionals seeking employment opportunities. “Though we’ve still not reached pre-recession levels, there is a strong and increasing demand for automotive service staff and […] [Read More]

If your franchised dealership showroom is located in Michigan, Texas or Massachusetts, it’s probably not uncommon to see new metal leaving the lot attached to a lease. But if your new-car store sits in New Mexico, West Virginia or Arkansas, the leasing volume likely is considerably less. Experian Automotive analysts broke down the top 10 […] [Read More]

Separate announcements from both Honda and Toyota were released yesterday and today, respectively, identifying vehicles from their lineups that are affected by the Takata recall which was expanded toward the end of May. Honda’s Monday announcement outlined that it will replace, free of charge, Takata passenger front airbag inflators installed in certain 2001-2005 Civic and […] [Read More]

Though pickup prices have begun to weaken a bit as summer approaches, cars are still seeing prices dip at a much faster rate. Part of this trend is due to increasing inventory, which is allowing dealers to be choosier about the units they buy for their lots. “As buyers remain picky about units, car segments […] [Read More]

After announcing a fourth location back in March, AutoMatch USA is expanding its presence in the Sunshine State. The dealership chain that specializes in foreign and domestic pre-owned vehicles of all makes and models has opened its fifth full-service auto super center in Ocala, Fla., located at 3550 South Pine Avenue. The company also has […] [Read More]