Two Michigan dealership are joining forces to make online vehicle transactions a reality for their customers. Katie Bowman Coleman, owner of Bowman Chevrolet in Clarkston, Mich.; and Sam Slaughter, owner of Sellers Buick-GMC in Farmington Hills, Mich., have merged their dealerships to form the Sellers Auto Group. The new business will be headquartered in Clarkston, Mich., […] [Read More]

Toyota Motor Credit Corp. acknowledged in documents filed with the Securities and Exchange Commission this past Friday that the Consumer Financial Protection Bureau and the U.S. Department of Justice sent a letter to the captive finance company alleging discriminatory practices regarding vehicle financing. The situation first developed earlier this year when these agencies requested that Toyota […] [Read More]

Today’s monthly payment driven consumers are keeping leasing levels on an upward trajectory, as Experian Automotive showed in its latest State of the Automotive Finance Market report. Analysts found that leasing accounted for 29.1 percent of all new-vehicle financing in the third quarter, up 7.1 percent from a year ago. And the latest level is […] [Read More]

Led by a nice boost in the number of late-model vehicle sales, the total value of all used cars sold last month climbed 15 percent year-over-year and reached $33.53 billion, according to data and analysis from CNW Research. That figure includes used cars sold by franchised and independent dealers as well as those sold by private […] [Read More]

XLerate Group, which was formerly known as American Auto Auction Group until revealing its rebranding last month, announced Monday that it has brought on Pat Dudash as senior vice president of sales. Dudash has held senior sales or remarketing executive positions with Insurance Auto Auctions, ADESA, JM Family and Alamo Rent A Car. Cam Hitchcock, […] [Read More]

Though the holiday was cause for a short week in the lanes, Black Book’s Ricky Beggs still saw a few changing trends at auction. For example, in his latest “Beggs on the Used Car Market” video report, the editorial director pointed out that an overall “bright spot” last week was seen among the car segments. […] [Read More]

Hudson Cook is keeping a watchful eye on a pair of developments regarding debt collections and the regulatory impact on finance companies. The firm indicated the Consumer Financial Protection Bureau and the Federal Trade Commission filed several enforcement actions relating to debt collection and the notice of proposed rulemaking on debt collection practices is expected […] [Read More]

Perhaps Experian Automotive found another part of what is the “new normal” in auto financing as analysts determined that the average dollar amount for both new- and used-vehicle loans reached all-time highs in the third quarter. According to the latest State of the Automotive Finance Market report, the average loan amount for a new vehicle […] [Read More]

Used-car sales in November were relatively static from year-ago figures, but eclipsed the 3 million mark and pushed year-to-date figures well above 38 million, according to data and analysis released by CNW Research. Overall, there were 3.11 million used vehicles sold last month, a figure that includes sales by franchised and independent dealers as well […] [Read More]

It might not be a huge feast for the used-car market in terms of November sales, but at least franchised and independent dealers can be thankful that CNW Research is projecting a sales uptick for dealerships this month. According to the firm’s Retail Automotive Summary released just before Thanksgiving, analysts predicted that sales at dealerships […] [Read More]