Three finance companies — Prestige Financial Services, Credit Acceptance Corp. and Consumer Portfolio Services — all shared investment news this week. The largest of the three developments came from Prestige Financial Services, which completed its 13th and largest rated term securitization, issuing $400 million in securities backed by $414,507,771 in automobile installment receivables. In a […] [Read More]

AutoCanada recently reported strong results for the fourth quarter and full year of 2014 during its last quarterly conference call, outlining across-the-board improvements in profitability. What the group wanted to bring more attention to, however, is the sales strife it is currently experiencing during its first quarter of this year. The company’s management team frequently […] [Read More]

The Federal Trade Commission continues to ramp up its enforcement actions in the automotive space with its second significant collection of settlements in about 14 months. On Thursday, the FTC and 32 law enforcement partners announced the results of what they dubbed “Operation Ruse Control,” a nationwide and cross-border crackdown aimed at what they contend is […] [Read More]

As spring gets underway, used supply is expected to rise, pushing pre-owned prices down slightly over the course of this month and April. That’s according to the March-April Canada Industry Report from ALG Canada, which predicts used market supply to rise in aggregate, which will serve to push residuals down by 0.01 percent. That said, […] [Read More]

ADESA announced today that it has named a new general manager at ADESA Ottawa. Most recently serving as the auction’s assistant GM, Jason McClenahan now takes on the position of GM, where he will be responsible for the auction’s market share growth and maintaining the auction’s culture for employees and customers. “Jason has a proven […] [Read More]

Infiniti Canada has named a new managing director, effective April 1. Stephen Lester has been chosen for the role and will be reporting to Christian Meunier, president, Nissan Canada Inc. and Randy Parker, vice president, Infiniti Americas. Lester was most recently national general manager of the brand and has more than 12 years of experience […] [Read More]

AU.TO, which markets itself as the “Google for cars,” announced this week that a beta version of its site has gone live, which it claims is the “largest truly organic search engine for cars.” True to its name, AU.TO (which is also its URL) aggregates vehicle sales and collects both vehicle and dealer data and […] [Read More]

For dealers, time is more important than money, Kraig Quisenberry said, in the sense that dealers often are more concerned with having a car that is front-line ready than the price they’re going to pay for the vehicle. And that ties directly into condition reports said Quisenberry, the director of sales at DCH Auto Group. […] [Read More]

Many dealers have come to expect tax season price and sales strength in the smaller and entry-level car segments, known for tax-return draw. But this year, according to the latest weekly Black Book Market Insights report, tax season impacted a much broader swath of vehicle segments. According to the report, Black Book data shows strength […] [Read More]

Perhaps coming up against the difficult year-over-year comparison analysts noticed on the new-car side, TrueCar is projecting a slight softening in used-vehicle sales this month. TrueCar forecasted that March’s total used sales, including turns at franchised and independent dealerships as well as private-party transactions, may exceed 3,581,085, which would be down 0.9 percent compared with […] [Read More]