As Ally Financial declared quarterly dividend payments for certain outstanding preferred stock holders, the U.S. Department of the Treasury announced the completion of its second pre-defined written trading plan for Ally Financial common stock. Treasury officials on Friday said they sold 11,249,044 shares and recovered approximately $245.5 million for taxpayers.  With the conclusion of the […] [Read More]

Leaves are falling and so is the performance of the auto ABS market, but it’s not a “cause for alarm.” Fitch Ratings indicated that the typically slower fall season is leading to higher losses for both prime and subprime U.S. auto ABS as delinquencies return to levels not seen since the Great Recession. Analysts determined […] [Read More]

The newest white paper from Equifax highlighted five reasons why credit scores might not be most accurate or comprehensive way to access a borrower’s qualifications — especially in subprime. Those reasons included: — Credit scores reflect only a portion of the full picture that affects applicants’ credit worthiness. — Insufficient detail can result in the […] [Read More]

Manheim Toronto is 50 years old this year, and the auction chose to celebrate this milestone earlier this month. Manheim Toronto, which opened in August 1964, hosted anniversary sales during its regular consignment sales on Oct. 7 at 10 a.m. and Oct. 9 at 6:30 p.m. The Town of Milton, Ontario, Mayor Gord Krantz even […] [Read More]

When dealership personnel say quickly and almost automatically that “we treat everyone the same,” what is really meant is that they greet prospects consistently and similarly with a sales process in person or digitally. However, having the capacity and ability to treat every walk-in customer the same simply can't be accomplished. It’s the perfect ideology, the […] [Read More]

Nearly three-fifths of car buyers turn to their mobile devices to read up on you and your fellow dealers, be it a review or a search for your store. That’s according to the 2014 Automotive Social Media Trends Study released by Digital Air Strike at the J.D Power Marketing Roundtable on Wednesday. “The overall trend […] [Read More]

As part of a reported recall of more than 1.6 million vehicles worldwide, Toyota Motor Sales USA announced plans to conduct a voluntary safety recall of approximately 423,000 Lexus vehicles for an issue with the fuel-delivery system. Included in the U.S. campaign are: — Lexus LS from the 2007 through 2010 model years — Lexus […] [Read More]

Forty cyclists, supported by Cox Enterprises’ Arizona-based Ready Auto Transport, completed a 430-mile bike ride, the Ride 430 Challenge, and raised more than $430,000 for injured military service members and their families. As the lead sponsor, Ready Auto Transport helped cover expenses for the event, including hosting the opening ceremony, providing support for riders along […] [Read More]

With the launch of the company’s “No Surprises” initiative, TrueCar Certified Dealers must now share “upfront information” on any non-governmental fees in the transaction — like document fees — as well as the costs for any accessories they add on to the vehicle. These fees and costs must now go alongside the Guarantee Savings off […] [Read More]

Wrapping up what would be the weakest third quarter for used prices since 2002, wholesale prices softened once again last month. According to the September installation of ADESA chief economist’s Kontos Kommentary, this marked the fifth month in a row auction prices have fallen. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices […] [Read More]