CNW Research contends subprime approvals are moving higher this month at a pace possibly even better than what the exact figures indicate. According to the firm’s latest Retail Automotive Summary, subprime approvals so far this month are registering 17.7 percent higher than September of last year. On a month-over-month basis, the increase is about a […] [Read More]

Analysts for S&P Dow Jones Indices and Experian quickly tempered concerns about a negative payment environment developing even though the auto loan segment of the S&P/Experian Consumer Credit Default Indices ticked up slightly in August. August’s default rate came in at 1 percent, marginally higher than the previous month’s reading of 0.96 percent. But on […] [Read More]

As new-vehicle sales continue to grow, an ever-increasing number of off-lease and trade-in vehicles are returning to dealers. According to data provided by AutoTrader, certified pre-owned vehicle inventory has increased by 6 percent since March, 80 percent of which are non-luxury vehicles, totaling to 380,758 vehicles. What will buyers be looking for? Here are a […] [Read More]

Compliance technology provider SecureClose wrapped up AutoStar Solutions’ seventh annual Innovate conference on Wednesday with a list of 10 recommendations for how to significantly decrease risk from lawsuits and government actions pertaining to the F&I closing process. Brent Chavez and Joe Perkins of SecureClose first cited the latest move by the Consumer Financial Protection Bureau […] [Read More]

Ron Smith, chief executive officer of S&A Cherokee and Publisher Emeritus of Auto Remarketing, earned the National Auto Auction Association 2014 Marie Hingst Exhibitor of the Year Award during the 66th Annual NAAA Convention & Exposition in Boston this week. Smith has long been a highly visible fixture in the remarketing industry as publisher of […] [Read More]

Both Chrysler Group and General Motors announced more recalls this week, adding to the unprecedented list of reported issues this year. Chrysler Group is recalling an estimated 230,760 sport utility vehicles around the world —15,898 of which are in Canada — to install a new part to prevent a fuel pump issue that the company […] [Read More]

It was announced today that ShipCarsNow — a subsidiary of Union Pacific Railroad — is the recipient of the 2014 SmartWay Excellence Award from the U.S. Environmental Protection Agency (EPA). The shipper and logistics excellence award winners were recognized at the Council of Supply Chain Management Professionals Annual Global Conference on Tuesday in San Antonio. This annual […] [Read More]

Mazda De Laval was focusing on certifying vehicles in-house long before the Mazda Canada certified pre-owned program hit the market. Now, store president Richard Labelle says, the dealership capitalizes on the fledgling certified program — launched in 2012 — by promoting their “like-new” used cars, which don’t take long to hit the lots after Mazda […] [Read More]

The Consumer Financial Protection Bureau is insistent that finance companies have documentation verifying the federal compliance of their service providers. For managers that use Allied Finance Adjusters member repossession agencies to find and recover vehicles, a new partnership with Vendor Transparency Solutions is aimed at enhancing what a finance company can show federal regulators. For […] [Read More]

The American International Automobile Dealers Association is asking for nominations for the David. F. Mungenast Sr. Lifetime Achievement Award, an honor that’s presented at AIADA's Annual Meeting and Luncheon to honor the legacy of Dave Mungenast and recognize some of the industry’s outstanding leaders. AIADA president Cody Lusk acknowledged that some dealers may remember Mungenast […] [Read More]