Huntington Bank is bullish about its vehicle financing opportunities this year after upbeat results from its yearly survey to gauge sales potential in the Midwest. The company's second annual Midwest Economic Index indicated that 22 percent of consumers in the states of Ohio, Michigan, West Virginia, Indiana along with individuals in western Pennsylvania are considering […] [Read More]

If you attended last month's National Automobile Dealers Association Convention & Expo or have simply been following industry news, you know that compliance is this year's hot topic. In the first quarter of 2013, the Consumer Financial Protection Bureau threw a monkey wrench into standard auto financing practices, causing everyone to rethink the way they […] [Read More]

In new survey results released today that looked at how married and divorced people deal with credit and debt that can include auto loans, Credit.com found that almost half (49 percent) of currently married couples reported their credit scores to be about the same as their partners, while only 26 percent of divorced couples said […] [Read More]

As the graduation for the first Auction Academy class nears, a similar program for dealers was announced Wednesday. The American International Automobile Dealers Association revealed  a new program designed to engage up-and-coming dealers and future industry leaders. AIADA described its new Rising Dealers Network as “an initiative aimed at engaging up-and-coming members of the international […] [Read More]

It’s not yet clear how extensively financing legislation in recent years will end up impacting the used-car dealer industry, but market research from IBISWorld suggests that during the next five years, used dealers will find some promise in the lease-here, pay-here market. Additionally, there could be more good news in store for the overall used-car […] [Read More]

Increases in used-car supply don't mean that dealers can rest on their laurels when it comes to inventory management. In fact, Robert Granados, of Dealertrack Technologies, says dealers will actually need to fine-tune their inventory processes. “You’re going to need to have a better process to really understand how you’re going to manage the various […] [Read More]

General Motors recently named its 2013 Auction of the Year, and receiving the honors was ABC St. Louis.  With this award, the auction was recognized for “its unwavering commitment to reconditioning, repairs and customer service.” ABC St. Louis moved more than 4,500 units last year and was called a “strong contributor” to the automaker’s FrontLine […] [Read More]

Prices for used cars were on the way down as 2014 got underway — a trend rarely seen in Canada since the 2008 economic downturn that caused leasing to fall off, leading to extremely tight pre-owned supply This past January, prices for 2- to 5-year-old vehicles fell by 2.1 percent from December, according to RVI […] [Read More]

This week, the Canadian automotive industry had time to respond to the Canadian Government’s introduction of an improved test methodology for establishing fuel-consumption values, which will be used for new 2015 model-year vehicles — and the verdict is positive. The Canadian Vehicle Manufacturer’s’ Association announced it supports the steps to improve vehicle fuel consumption ratings, […] [Read More]

This week, AutoCanada Inc. announced its 12th consecutive quarterly dividend increase, due in part to the company’s “continued confidence in the market.” The board of directors declared a quarterly eligible dividend of $0.22 per common share. This represents a 4.8 percent increase from the previous quarterly dividend of $0.21 per common share. "The company is […] [Read More]