Last year was a steady and productive one in the used-car market: there were more than 42 million used vehicles sold in 2014, up just a hair from 2013. Specifically, CNW Research said in its latest analysis that there were 42.05 million used-car sales in 2014, a figure that includes sales by franchised and independent […] [Read More]

Hyundai Motor Finance announced today it has launched in Canada, giving Hyundai dealers across the country access to captive financing options for their customers. The new branch will be headquartered in Toronto and is a subsidiary of Hyundai Motor Group. “Today’s launch follows months of development, including assembling a top-notch team, building high quality products […] [Read More]

The December 2014 issue of the NADA Used Car Guide's Perspective featured part-two of its retention review, this time focusing on the value retention of several mainstream models, all of which were either all-new or heavily revised for the 2014 model year (see part one of the review, for luxury vehicles, here). In the Retention Review, […] [Read More]

The top segment at the auction, in terms of price increases, during the last month of 2014 was the midsize car, but it was the No. 2 segment on the list that had analysts with Kelley Blue Book a bit surprised, given the fuel-price climate. With an 0.8-percent hike in auction price, the subcompact car […] [Read More]

AutoStar Solutions announced at the end of December that its AutoStar Fusion dealer management system has completed its integration with DealerSocket’s customer relationship management software. The two-way integration allows dealers to automatically and securely share 27 distinct pieces of vehicle, sales and customer information between the systems, dramatically reducing the need for data entry via […] [Read More]

News coming out of General Motors to start the year was mixed, as the automaker managed to redeem all outstanding shares of its Series A Preferred Stock, but also faced another set of recalls due to lingering ignition switch issues. The company began 2015 much in the same way it had spent most of 2014: announcing […] [Read More]

GWC Warranty, a provider of vehicle service contracts and related finance and insurance products sold through dealers, finalized an expansion of its headquarters before 2014 closed. Officials highlighted GWC’s state-of-the-art facility has been expanded to almost 20,000 square feet. The new space was built adjacent to the existing area in Coal Street Park in Wilkes-Barre, […] [Read More]

As this past year closed, you couldn’t turn around without seeing another retrospective on 2014. Websites, magazines, news and entertainment programs, and even radio shows get in on the action. They cover everything: The 10 best movies, the 20 best video games, the most memorable quotes, and, of course, the person of the year. Taking […] [Read More]

Condor Capital is no longer originating and servicing vehicle installment contracts for dealers who cater to subprime customers in New York or more than two dozen other states. Just before the holiday, the New York Department of Financial Services submitted a final consent judgment to be approved by the Empire State’s court system to settle […] [Read More]

CarMax Auto Finance still is steadily originating subprime paper through its own test program as company executives continue to monitor the performance of this portfolio segment they launched last year. During the third quarter of its 2015 fiscal year, CarMax Auto Finance originated $12.3 million of loans through its subprime financing program. That amount represented […] [Read More]