The $35 million fine generated by the consent order from the National Highway Traffic Safety Administration that General Motors agreed to on Friday didn’t surprise analysts from TrueCar and Kelley Blue Book. Now what these industry observers are waiting to see is if the impact triggered by this ignition switch recall controversy will eventually work […] [Read More]

 After boosting its global used-car retail sales by nearly 16 percent in the first quarter, Group 1 Automotive announced late last week a new stock offering. The dealer group revealed the pricing of its private placement of $350 million of 5 percent senior unsecured notes due in 2022. The offering size was increased to $350 […] [Read More]

MojoMotors.com took a different approach to gauging vehicles’ reliability — looking at how much mileage could accumulate before a car becomes valueless. Although just because a car has lost all of its residual value doesn’t mean it won’t keep on running, MojoMotors pointed out “less reliable brands will lose value quicker since they have a […] [Read More]

In and of itself, the fact that 36 percent of taxpayers who expected to receive a refund check this year planned on spending at least part of those funds on auto-related items isn’t all that out of the ordinary, according to a survey from eBay Motors. While that proportion was up 3 percentage points from […] [Read More]

General Motors said it came to an agreement with the National Highway Traffic Safety Administration on Friday for failing to report in a timely manner the ignition switch defect that’s resulted in the non-deployment of airbags in more than 2 million Chevrolet Cobalt and other GM models. As part of this agreement, GM will pay […] [Read More]

EFG Companies this week launched Power x2, a powertrain protection vehicle service contract that can double the benefit of the manufacturer’s powertrain warranty. Officials highlighted the new contract can deliver a vital dealer tool, proven by independent research, indicating that 90 percent of surveyed consumers say extended warranties impact their purchase.  According to a recent […] [Read More]

Another former Nicholas Financial executive joined the management team at Metrolina Credit Co., a specialty finance operation offering indirect auto financing solutions in the subprime credit space as well as consumer and personal loans direct to the public.  Coming on board with Metrolina Credit is Matthew Niemann, who will be the company’s controller and will […] [Read More]

Indirect auto finance company Flagship Credit Acceptance recently completed an asset-backed securitization of $222 million of notes issued in four tranches and assigned ratings by Standard & Poor’s Ratings Services and Kroll Bond Rating Agency. The development marked the company’s second asset-backed securitization. Flagship also announced the recent completion of a new $100 million senior […] [Read More]

Along with a perceived lack of transparency at the Consumer Financial Protection Bureau, rumblings about how many closed-door sessions are conducted by another regulatory body established by the Dodd-Frank Act now are percolating on Capitol Hill. Rep. Scott Garrett, member of the House Budget Committee and chairman of the Financial Services Subcommittee on Capital Markets […] [Read More]

Carfinco Financial Group announced first-quarter results this Wednesday that showed growing auto loan originations as well as rises in net earnings. The first quarter of fiscal 2014 has been a positive one for Carfinco, said company management, as the company reported a 5.5-percent increase in net earnings and $1.1 million of growth in the finance […] [Read More]