Experian Automotive released an analysis this week of the most prevalent areas of the country for leases and certified pre-owned sales. Unsurprisingly, the areas with the highest rates of leases compared to overall new-vehicle registrations were larger metropolitan areas. Top 5 Metropolitan Areas, New-Vehicle Lease Penetration (Experian) Detroit – 67.9 percent New York – 49.8 […] [Read More]

Carfinco Financial Group Inc. — who recently penned a deal to be acquired by Banco Santander for $300 million — announced its third quarter results today, showing record loan originations and low delinquencies. Highlights for Q3 included what company management is calling record loan originations of $64.4 million. This represents a 19.2 percent jump from […] [Read More]

SiriusXM Canada recently announced the winner of its summer Win Your Wheels contest. Bonnie Stimers, a resident of Peterborough, won up to $40,000 to use toward a new or used vehicle purchase. The contest, which was available to any customer who signed up for a one-year subscription to SiriusXM at the time of purchasing their […] [Read More]

Mazda Canada Inc. announced a move today that may help its franchised dealers in their quest for customer retention, loyalty — and, of course, more trade-ins. The company has launched a new unlimited mileage warranty, which puts an end to distance limitations on its factory warranty coverage — a move which has the potential to […] [Read More]

In 28 years with Ally Financial, Robert Stahl has done a little bit of everything. He has worked a repo lot, had multiple leadership tenures in remarketing, ventured into subprime finance and was involved in helping the SmartAuction online platform get off the ground. But one lesson that has stuck with Stahl since his first […] [Read More]

American Auto Auction Group has officially rebranded, chief executive officer Cam Hitchcock announced at the National Remarketing Conference today. “We are excited to officially launch the XLerate brand today. Our team believes that the new brand, which incorporates the attributes of speed and size, will directly benefit our customers throughout the United States,” Hitchcock said in […] [Read More]

A recent report from Requisite Press showed that used cars are still most often the fiscally responsible way to go for the majority of American families. According to the October 2014 Auto Buyer’s Affordability Index (ABAI), which is currently at 54.1, a "prudent, median-income household" can only afford 54.1 percent of the new-car average price. […] [Read More]

As election results came in last week, the polls showed one West Virginia auto dealer caused quite an upset. Mark Maynard, who owns a small towing business and car lot in Genoa, W. Va., overcame 32-year incumbent Truman Chafin in the 6th District of West Virginia’s Senate race. Chafin has held the position from 1998 […] [Read More]

Insurance Auto Auctions announced Wednesday the launch of a new feature for its CSAToday app for iOS. The feature, Vehicle Assignment, is the first mobile vehicle assignment feature on an iOS device for the salvage industry, the company reported. Vehicle Assignment allows customers of CSAToday “anywhere” access to begin an assignment with IAA while also […] [Read More]

Both Nissan and Honda have recently reported recalls related to passenger airbag issues — adding to the recent influx of such statements in light of the Takata airbag advisory. In other words, the number of vehicles recalled because of faulty Takata airbags is growing — and expected to continue to expand as we head toward […] [Read More]