Kia Motors recognized two auctions at the 2015 NAAA/IARA/CAR Conference in Las Vegas earlier this month. Kia presented the “High Performance Auction Award” to Kansas City Independent Auto Auction for maintaining a high level of excellence in every facet of auction operation. Kia also recognized Manheim Riverside  with its “Auction of the Year Award” for […] [Read More]

Buy-here, pay-here dealers who use Wayne Reaves software now can take advantage of what is offered by CarStory, a provider of crowdsourced data and analytics on used-vehicle pricing and preferences. This week, Wayne Reaves integrated CarStory Market Reports into its customizable website platform. A free merchandising tool and lead source, CarStory Market Reports now are […] [Read More]

Ford has announced three separate safety recalls for North America. Most prominent among them is the recall of 212,911 units from certain 2011-2013 Ford Explorer and Ford Police Interceptor Utility vehicles that may have a potential issue with the spring that controls the interior door handles. The company says if the spring is unseated, the […] [Read More]

U.S. House members made their move in hopes of restructuring how the Consumer Financial Protection Bureau operates. Now a lawmaker from the nation’s upper chamber has revealed a measure to curb the financial resources available to the regulator. Sen. David Perdue recently introduced an amendment to the Senate’s 2015 Budget Resolution regarding the CFPB. Perdue […] [Read More]

In what might not be surprising to top company executives, Fitch Ratings recently acknowledged that auto finance companies are likely to see loan asset quality weaken in 2015, with annualized net losses moving closer to their historical averages. While prime auto loans continue to perform well, Fitch indicated subprime auto loan ABS annualized net losses […] [Read More]

Black Book and defi SOLUTIONS are teaming up to present a free webinar titled, “The Power and Value of Integration.” The companies highlighted the four topics they plan to cover during the one-hour webinar, including: — How finance companies can gain competitive opportunities by leveraging the Black Book's unique valuation data. — How valuation data […] [Read More]

The Consumer Financial Protection Bureau received 3,204 complaints associated with debt collection in January, according to analysis of the regulator’s database orchestrated by service provider WebRecon. While the total amount represented a 7.1-percent jump year-over-year, WebRecon noticed that just 2 percent of the total — only 66 cases — were connected with vehicle financing. WebRecon […] [Read More]

Swapalease.com released a report this week regarding its recent survey asking consumers what they would like to see as options during the overall automotive experience, from the point of acquisition onward. The results, based on the survey of more than 2,500 drivers and car shoppers across the nation, revealed several interesting findings. For one, men and […] [Read More]

Improved sales numbers are usually aided by a good reputation. And that reputation, according to a recent release from J.D. Power and DealerRater, starts in your service department. The March 2015 PowerRater Consumer Pulse, a monthly analysis of — as the title suggests — consumer opinions, is developed jointly by J.D. Power and DealerRater, each of which […] [Read More]

Group 1 Automotive announced Tuesday that it has acquired an Audi dealership in Euless, Texas, in the Dallas-Fort Worth metro area. The dealership, which will continue to operate under the name of DFW Audi, is expected to generate an estimated $80 million in annual revenue for the auto group. “We are pleased to expand our […] [Read More]