As spring approaches and many are day-dreaming about warmer, sunnier weather, fuel efficiency is making traction with shoppers in the market for a new vehicle. For the second month in a row, Porsche’s ad for the Panamera Hybrid took the top luxury ad spot in January, according to Phoenix Automotive’s January Auto Insights report. Kevin […] [Read More]

With the financial penalty associated with the Consumer Financial Protection Bureau and U.S. Department of Justice settlement leaving a significant impact on the company's fourth-quarter performance, Ally Financial chief executive officer Michael Carpenter outlined a three-point plan to achieve success throughout its business ventures. This morning, Carpenter described Ally's navigation through bankruptcy proceedings and a […] [Read More]

Less than two weeks after the National Automobile Dealers Association released its fair credit guidance to member franchised stores, top executives at two of the largest publicly traded dealer groups are still assessing the recommendations and determining what to do next. AutoNation chairman and chief executive officer Mike Jackson said the company would be implementing […] [Read More]

CNW Research determined the amount of pre-approved loans, subprime buyers and the percentage of January's used-vehicle sales to buyers with FICO scores below 550 all increased year-over-year. The firm indicated the level of pre-approved financing for a used-vehicle purchase last month came in at 7.52 percent, up from 6.65 percent a year ago. Meanwhile, CNW […] [Read More]

Wolters Kluwer Financial Services recently integrated with Frazer's Bankers Systems brand retail installment contracts. Officials explained the integration can provide Frazer with the ability to electronically select and print plain-paper compliant contracts, disclosures and ancillary forms through the Frazer DMS system. Frazer software is used at more than 11,000 dealerships throughout the U.S., and has […] [Read More]

Two Northeast credit unions recently reported exponential growth using CU Xpress Lease, an alternative new-vehicle leasing product that incorporates low residual value risk to create incremental loan growth and increased efficiency. Teachers Federal Credit Union in Hauppauge, N.Y., said it experienced year-over-year growth in excess of 277 percent using the program. IC Federal Credit Union […] [Read More]

The severe winter weather is not only impacting shopping activity levels and prices in the used-car market, but it also appears to be influencing the types of used vehicles consumers are going after, especially in the icy Midwest. That’s according to the latest Hot Used-Car Report from Kelley Blue Book, which found that full-size SUVs, […] [Read More]

Led by a year-over-year sales increase of nearly 27 percent from Ford, the Big 3 grabbed about three-and-a-half additional points of certified pre-owned market share in January as all the automakers posted nice lifts in CPO sales, according to the latest report from Autodata Corp. All told, certified sales for the Detroit automakers totaled 59,648 […] [Read More]

Black Book has launched the second iteration of its mobile application: Black Book Digital. The tool was “built from the ground up” and its new design aims to help auto professionals make profitable decisions through simple-to-use features, the company said. Black Book Digital was designed to provide a more efficient means to search vehicles and […] [Read More]

Manheim’s Tom Webb said during a press conference at the NADA Convention & Expo last month that he “can pretty much guarantee that CPO sales are going to hit a record again this year.” Well, they’re certainly off to a good start. Fresh off the third straight record year for certified pre-owned sales, last month […] [Read More]