Xcira announced the development of a patented handheld condition reporting system that is designed to increase the efficiency and accuracy of the vehicle inspection and condition reporting process.  The latest in a series of technological solutions developed by Xcira is called the ICE (Intelligent Condition Evaluator). “Xcira continues to define the auction industry with support […] [Read More]

The clash between Chrysler Group and the National Highway Traffic Safety Administration over the recall involving 1993-2004 Jeep Grand Cherokees and 2002-2007 Jeep Liberty vehicles took another turn on Wednesday. NHTSA officials issued a special order because they want to know why it’s taking what they consider to be a long time to repair 1.56 […] [Read More]

When it comes to the hottest used-car models among consumers, the name of the game appears to be reliability. That’s according to Kelley Blue Book, which provided Auto Remarketing with a list of the 25 most sought-after used vehicles on its website, and an explanation as to why the handful of cars at the top […] [Read More]

For the first time in one-and-a-half years, monthly certified pre-owned sales fell on a year-over-year basis — but take that with a grain of salt. Sales in June declined more than 2 percent, but there's more to the story. CPO sales through the first half of 2014 beat prior-year figures by more than 8 percent, […] [Read More]

As the weather heated up in May, demand for sporty cars for the summer months spiked, contributing to a scarcity issue for some models. The Porsche Cayman, in particular, was difficult to find for dealers. That’s according to May’s installment of vehicle scarcity data that is provided monthly to Auto Remarketing from AutoTrader.com. The Cayman […] [Read More]

Another free, online financial assessment tool has hit the market this week designed to give consumers a quicker, more convenient way to tell if they can afford dealer quotes. Requisite Press has launched AffordCheck, a financial assessment tool based on the 20-4-10 auto financing rule, which consists of a minimum 20 percent down payment, a […] [Read More]

FNI Inc. president David Bafumo noticed the vendor management portion of the latest consent order from the Consumer Financial Protection Bureau closely tracks and elaborates on the bureau’s original service provider guidance bulletin. Bafumo explained his reasoning in light of the June 19 consent order in which the CFPB demanded that GE Capital Retail Bank, […] [Read More]

The lengthening of vehicle financing contracts as well as the loan amount attached to those deals has the attention of another federal regulator — the Office of the Comptroller of the Currency. The auto finance market appeared several times in the OCC’s Semiannual Risk Perspective from its national risk committee, which monitors the condition of […] [Read More]

After almost 30 years with the company he founded, Peter Vosotas no longer is chairman of the board and a director at Nicholas Financial, an indirect special finance company that originates subprime loans with more than 1,600 dealers. According to the company’s filing with the Securities and Exchange Commission, Vosotas resigned as of June 25. […] [Read More]

Dealertrack Technologies announced Tuesday afternoon that it has acquired ASR Pro, a company that provides Web-based electronic multipoint-inspection and fixed operations services for dealers. Approximate total consideration for the purchase includes $12 million in cash and $2 million in Dealertrack shares — all of which would be subject to standard purchase price adjustments. Dealertrack also […] [Read More]