As summertime really heats up with Fourth of July coming later this week, Manheim chief economist Tom Webb again addressed the question of how changing gas prices are going to influence the wholesale and retail markets. The latest query came in light of tension resurfacing in Iraq not having a dramatic impact at the pump […] [Read More]

The National Highway Traffic Safety Administration said Hyundai Motor America is recalling 35,000 vehicles to fix a support bracket. Included in the campaign are Elantra Touring vehicles from 2010 through 2012 model years. The units were manufactured from Dec. 15, 2009 through May 7, 2012. NHTSA indicated the affected vehicles have a support bracket attached […] [Read More]

Online marketing company Net Driven is continuing its expansion into the automotive industry with a few new tools for dealers, along with a grand opening for its new headquarters. The Pennsylvania company will be moving to its new headquarters in Scranton, Pa., on July 17, in conjunction with the inaugural meeting of its Automotive Dealer […] [Read More]

The General Motors Regional Auction Operational Awards for the first quarter of 2014 were recently revealed, and taking home the honors were five auctions spread throughout the country. By region, they were: —North Central: Manheim Detroit —North East: Pittsburgh Auto Auction —South Central: ADESA Houston —South East: Manheim Orlando —West: ADESA Los Angeles Manheim released […] [Read More]

For Bill Luke Chrysler Jeep Dodge & Ram, the additional investment in reconditioning and getting its inventory retail-ready and qualified for certification is well worth it. Jody Knaub — the dealership’s used-car director — emphasized the high expectations consumers often have for conditions of used cars, which can impact the level of investment that’s made […] [Read More]

Steve Klees sees motorcycles and other powersports equipment sitting at dealerships and can’t help but think there are possibly scores of potential subprime buyers for those items if more finance companies chose to delve into that market. Klees, who is the senior vice president of specialty channels with EFG Companies, explained his thinking to SubPrime […] [Read More]

A new TransUnion analysis found that the reporting of rental payment information to the credit bureaus in a manner similar to other financial obligations could have a positive effect for the majority of subprime consumers' credit. Analysts found the subprime segment of the population, those consumers who may be viewed as higher credit risks, could […] [Read More]

For both dealers and finance companies, the cost of being compliant is on the rise. Recent reports and reprimands are giving concrete financial figures to what making installment loans attached to vehicles entails nowadays. Before getting into those numbers, Rick Hackett touched on the reason why compliance is such an important — and consequently costly […] [Read More]

Beyond the metrics about originations, collections and other figures associated with vehicle financing, the 2014 member survey orchestrated by the National Automotive Finance Association highlighted just how important Millennials are to the present and future of the industry. During his presentation at the 18th annual Non-Prime Auto Financing Conference, George Halloran discussed at length this […] [Read More]

According to the most recent study from the Federal Reserve, the average new-vehicle loan in the U.S. stands at more than $26,700 with a loan to value ratio of a huge 80 percent. So the volume of payments which are there to be collected is vast. Auto finance companies from huge captives down to smaller […] [Read More]