The American Financial Services Association recently sent a letter to the Federal Communications Commission, again stressing what officials called the need for more sensible rules implementing the Telephone Consumer Protection Act (TCPA). AFSA insisted that penalties of up to $1,500 per violation of the TCPA have provided plaintiffs’ attorneys with “fodder” for lawsuits that “enrich […] [Read More]

First, the Consumer Financial Protection Bureau and the U.S. Department of Justice delivered notices to Toyota Motor Credit Corp., alleging discriminatory practices regarding vehicle financing. Now, American Honda Finance revealed it also received the same allegations from these federal regulators. In documents filed with the Securities and Exchange Commission on Tuesday, officials from the CFPB […] [Read More]

Black Book vice president of data licensing Jared Kalfus described the industry “crossroads” finance company executives are assessing based on his first-hand conversations at last month’s Used Car Week in Las Vegas. What has finance company leadership pondering which way to turn at this “crossroads?” Analysts from firms such as Black Book and TransUnion are finding […] [Read More]

Though sales rep turnover continues to be an issue for automotive dealerships, weekly earnings continue to rise above most other private sector businesses as the dealership workforce continues to expand. NADA’s third annual industry report on the dealership workforce showed dealerships were adding new employees, paying above-average wages and showed weekly earnings growth last year. […] [Read More]

Southeastern Auto Auction’s president and chief executive officer announced the appointment of a newly created position of vice president of operations. Wayne DeLoach, the auction’s president, said that Bill McCready, formerly of Charleston Auto Auction in South Carolina, will take on the responsibility of the new VP position at Southeastern, where McCready will be accountable […] [Read More]

New-car sales have picked up nicely, lease returns are aplenty and franchised dealers are trading for more cars — all of which means more used supply entering the market and eventually giving independent dealers like Steve Matthews a boost in inventory. But for a while, that wasn’t the case, as many independents struggled to find […] [Read More]

The November 2014 issue of the NADA Used Car Guide's Perspective featured a retention review, outlining the value retention of several luxury vehicles that are either all-new or heavily revised for the 2014 model year. In the Retention Review, the NADA used retention calculation based on a three-month average (September through November of this year) of NADA’s […] [Read More]

VehicleXchange entered into an agreement with Experian Automotive on Tuesday. The companies said the arrangement allows VehicleXchange to incorporate Experian data into its new suite of auto loan equity tools, as well as develop a new generation of services that will range from service drive and data mining to dynamic appraisal and digital auto retailing. “VehicleXchange […] [Read More]

Honda and Toyota are leading a charge in calling for a coordinated industry-wide joint initiative to independently test Takata airbag inflators that have been the subject of recent recalls. The companies said the goal of this initiative is to address affected automakers’ issues related to the airbag inflator recalls and supplement testing being undertaken by […] [Read More]

Redesigns. Yes, this term is perhaps more exciting for the new-car market, but it seems waves of updated models impact the used market heavily, as well. In NADA Used Car Guide’s latest white paper, titled, “How Redesigns Affect Used Vehicle Prices,” analysts discovered redesigns can play a large role in how used values pan out […] [Read More]