Of the Top 20 finance companies in the used-vehicle market, only eight gained market share year-over-year as of the close of the fourth quarter. And according to Experian Automotive, many of the operations that lost ground in Q4 saw their market shares soften by double digits. Analysts indicated Wells Fargo continues to be the market […] [Read More]

With an average of tax refund of more than $3,000 coming to consumers, GOBankingRates analysts sought out to find the states and cities that boast the lowest interest rates on new-vehicle loans this month. The site’s study determined the five cheapest states for financing a new vehicle include: — Hawaii: four-year loan at 1.9 percent […] [Read More]

In the 2013 Chase Auto Finance Dealer Survey released earlier this winter, dealers were asked what parts of their business were seeing growth. Out of the 262 dealer principals taking the survey, 207 of them (or an even 79 percent) said they were seeing growth in pre-owned sales. More than 56 percent of the 262 […] [Read More]

A Chrysler manufacturing plant slated for closure has reversed course, and is now set to build an all-new model and welcome hundreds of new workers. On Friday, Chrysler Group chairman and chief executive officer Sergio Marchionne announced the addition of 800 jobs at the Sterling Heights Assembly Plant in Michigan, to support production of the […] [Read More]

With trees starting to bud in some places and college basketball fans ready to fill out NCAA Tournament brackets, analysts from NADA Used Car Guide are seeing positive signs of spring for dealers, too. Executive automotive analyst Jonathan Banks articulated several specific points in his market overview video for March. “NADA expects the uptick in […] [Read More]

Consulting and recruiting firm TPC Management Co. has selected a long-term employee as its newest vice president. Company president and chief executive officer Pierre Pons made the promotion announcement, naming 10-year employee Penny Wanna as vice president of administration. “Penny has been instrumental to the growth of our firm in all aspects, and along the […] [Read More]

In its latest Blue Book Market Report, one trend that Kelley Blue Book noted about February wholesale price activity was the movement in the values of full-size SUVs from General Motors. Comparing the four-week period ending Feb. 21 with the one ending Jan. 24,  the average overall change for the segment was a 0.5-percent decrease. […] [Read More]

Will buyers flock to showrooms to buy new vehicles this year? Market optimists seem to think so. And most who attended the North American International Auto Show are utterly ebullient. But those who believe the glass is half empty say trends are heading in the opposite direction. Several key factors are pushing sales up, including: […] [Read More]

Ally Financial announced its succession plan this week since Bill Muir, the president and current head of the dealer financial services business, has elected to retire by year-end. The company tapped Jeffrey Brown, currently senior executive vice president of finance and corporate planning, to the role of president and chief executive officer of the dealer […] [Read More]

The staff at Black Blook Lender Solutions envisions underwriting personnel at finance companies watching two computer screens when evaluating an application that arrives from a dealership in their network. One screen shows the applicant’s complete credit history. The other monitor shows the depreciation history and projections for the vehicle expected to be attached to that […] [Read More]