AutoLoop said this week that it has integrated its two equity mining tools, Quote and XRM. The latter — which AutoLoop acquired along with the CRM tool’s parent company (CAR Research) in June — is now useable with access to Quote from the program, according to Steve Anderson, the chief executive officer of AutoLoop. “Dealerships who use XRM are […] [Read More]

Sparked by the best July in company history, Westlake Financial Services announced this week that it reached $2 billion in total receivables. Westlake’s portfolio now has that total receivables figure connected to more than 270,000 customer accounts. “Having a portfolio of $2 billion is a huge accomplishment,” said Don Hankey, chairman of Westlake Financial Holdings. […] [Read More]

Swapalease.com reported lease credit approvals during the month of July climbed to the highest monthly level of the year, reversing a trend that saw continuous decline since January largely due to an increase in the number of subprime credit applicants. The company pinpointed the July approval reading at 81.0 percent. Despite the high marks in […] [Read More]

Near-term predictions made this week by Moody's Investors Service fall in line with ongoing lending cycle points noticed by veteran finance company executives such as Credit Acceptance’s Brett Roberts and Brad Bradley of Consumer Portfolio Services. Moody’s analysts indicated in a new report that they do not expect losses of U.S. subprime auto loans to […] [Read More]

The auto segment of the S&P/Experian Consumer Credit Default Indices stayed flat on a sequential basis in July. And analysts from S&P Dow Jones Indices and Experian highlighted July’s auto reading settled only four basis points above its historical low. The auto default rate came in at 0.96 percent in July, the same as June. […] [Read More]

American Honda Motor Co. and Carfax have extended their certified pre-owned partnership, which began 10 years ago. As such, Carfax will continue to be a vehicle history information provider for the Honda and Acura certified pre-owned vehicle programs. Carfax Vehicle History Reports have been a major element in the Honda/Acura CPO programs the past decade, the […] [Read More]

Digital marketing solution provider Search Optics announced this week the acquisition of DigiGo, the internet marketing division of KPA. After its sale, KPA announced in a statement that it will now focus on expanding its environmental health and safety and human resources management product lines for various automotive markets. Some may know DigiGo by its […] [Read More]

Auction volume in July was up nearly 4 percent year-over-year, as was year-to-date volume, according to the latest Economic Dashboard prepared by Ira Silver, the chief economist for the National Auto Auction Association. More specifically, against comparable weeks of 2013, auction volume was up 3.7 percent for July, with year-to-date numbers up 3.9 percent. Used […] [Read More]

In an effort to recognize its customers and celebrate a significant milestone, Manheim Tampa will host a 25th anniversary sale on Thursday. More than 2,500 units are expected for the regular weekly consignment sale at Manheim Tampa beginning at 9 a.m. ET on Thursday. The auction will be giving away rock ''n' roll gift baskets, iPads, […] [Read More]

DMEautomotive said the results of its latest study prove dealerships that have a mobile app to generate business for their service drive can generate six-figure increases in parts and service revenue. The company explained its new research showed that mobile app users become more frequent visitors to a dealership’s service department after they download the app. The […] [Read More]