It has been 50 years since Toyota entered the Canadian marketplace. A half a century ago, Toyota granted a distributorship agreement to Canadian Motor Industries, Ltd., which would later become Toyota Canada Inc. (TCI). The following year, TCI would sell only 755 vehicles. To put the automaker’s growth in perspective, Canadians have purchased over 4.6 […] [Read More]

Tom Hudson, Michael Benoit and their partners at Hudson Cook recently updated the law firm’s popular reference book, CARLAW. Winner of the Axiom Business Book Award, the book gives readers 362 things to know about dealer finance laws and regulations. The book available from CounselorLibrary.com —  the publisher of automobile financing and leasing legal compliance […] [Read More]

The American Financial Services Association recently announced who will be the keynote speaker for the 19th annual Vehicle Finance Conference & Exposition. Tapped for the opportunity during the event that begins on Jan. 20 in San Francisco is Robin Chase, the founder and former chief executive officer of Zipcar, one of the the largest carsharing […] [Read More]

As more vehicle installment contracts and payments are being handled electronically, cyber-security now ranks as the principal concern of the financial services industry, according to results of a new survey recently released by the Depository Trust & Clearing Corporation (DTCC). In the wake of several recent high-profile cyber-attacks on major sectors of the global economy, […] [Read More]

During its third-quarter conference call, Sonic Automotive highlighted several all-time records, including those set for new retail unit sales, pre-owned gross profit and third quarter total gross profit. When asked if something was happening to separate Sonic from the pack during its strong quarter and used-vehicle sales increase of about 5 percent on the same-store […] [Read More]

Like many dealerships are facing nowadays, Group 1 Automotive had to turn more used vehicles to push its overall revenue and gross profit figures higher during the third quarter because gross profit per unit softened by 3.3 percent, or $52, per vehicle. The company’s top-line third-quarter metrics in the used department settled with retail revenues […] [Read More]

On a Thursday afternoon at a hotel in the Charlotte suburbs, a crowd of auto journalists — flanked to the left by a deep blue 2015 Toyota Camry XSE reflecting overhead ballroom lights — listened to a presentation on the Camry’s redesign by Darlene Morgan of Southeast Toyota Distributors. Southeast Toyota was hosting a media event […] [Read More]

Continuing the series of honors that will be handed out during Used Car Week, Auto Remarketing announced the winner of the Re3 Executive of the Year Award. The honor is going to Karen Nelson, who is senior vice president and call center director for Crescent Bank, a Louisiana-based subprime auto finance company. As a result […] [Read More]

While the first cohort will be completing the training at the same location as next month’s Used Car Week, the National Automotive Finance Association is now beginning enrollment for its next group of professionals who are looking to complete the Consumer Credit Compliance Certification Program. NAF Association officials announced the first module of the program […] [Read More]

EFG Companies claimed earlier this week that it is the only F&I product provider to be certified as a Center of Excellence by BenchmarkPortal. The Center of Excellence recognition is one of the most prestigious awards in the customer service and support industry. Officials highlighted BenchmarkPortal only awards the Center of Excellence designation to customer […] [Read More]