Industry observers cheered this week’s move by the U.S. Department of Transportation’s National Highway Traffic Safety Administration, which announced it is calling for a national recall of vehicles with certain driver’s side frontal air bags made by Takata. Regulators explained this decision is based on the agency’s evaluation of a recent driver’s side air bag […] [Read More]

Veros Credit and its affiliates recently surpassed the $1 billion milestone in loan originations.  Veros Credit’s recent expansion, coupled with a storied history of originating loans in California, Arizona and Nevada, helped the company hit this new mark. As part of its recent nationwide expansion efforts, Veros Credit now originates loans in 15 states including: […] [Read More]

The upward drift surfacing in the auto loan segment of the S&P/Experian Consumer Credit Default Indices is now six months old, but analysts are attributing the movement to the amount of metal moving out of showrooms and paper filling finance company portfolios during the same span. The October reading ticked up 4 basis points on […] [Read More]

Through findings applauded by the National Automobile Dealers Association, the American Financial Services Association offered its latest rebuttal this morning to contentions by the Consumer Financial Protection Bureau about problems with the indirect auto financing process. A comprehensive study commissioned by AFSA of more than 8.2 million auto financing contracts found that the disparity alleged […] [Read More]

When it comes to car-shopping traction by the various forms of social media, Facebook is huge, as many resources in the industry will attest. In addition to emphasizing the vast importance of Facebook to the car-shopping process, Digital Air Strike also shared a list of other social networks and the percent of car shoppers who […] [Read More]

If there is one statistic from Digital Air Strike’s recent study that best highlights the importance of social media in your store’s marketing efforts, it might be this one: better than nine out of every 10 buyers (91 percent) used social media/review sites in the dealership selection process.  And based on the findings illustrated throughout […] [Read More]

Privately owned SoCal Penske Dealer Group announced this week is has acquired the assets of both Drew Ford and Drew Hyundai in La Mesa, Calif. Roger S. Penske Jr., SoCal Penske’s president, is committed to maintaining the legacy the Drew family has established during their time as owners of the dealerships. “We are thrilled to […] [Read More]

Ernst & Young LLP announced this week the recipients of the EY Entrepreneur of the Year awards. Amongst them is Jim Hallett, the chief executive officer and director of KAR Auction Services Inc., who earned the EY Entrepreneur of the Year 2014 National Services Award. According to Ernst & Young, the award is a “leading […] [Read More]

The political action committees of the National Independent Automobile Dealers Association and National Auto Auction Association announced they have made a joint contribution to Sen. Tim Scott, a Republican from South Carolina, in conjunction with last week's NIADA National Leadership Conference and Legislative Summit in Washington D.C. In addition, NIADA PAC announced a contribution to […] [Read More]

The Baltimore Ravens are on the cusp of winning Super Bowl XLVII. President Barack Obama is being sworn into his second term. Most of us (for better or worse) have yet to hear the song “Blurred Lines.” That was January 2013. It was also the last time that vehicle incentive spending did not show annual growth. […] [Read More]