NADA Used Car Guide pinpointed just how much more wholesale prices for used cars and light trucks up to 8 years in age increased in March than they did in February. Analysts pegged the March jump at 3.7 percent, well above February’s 2.2-percent increase. NADA UCG executive automotive analyst Jonathan Banks explained what happened in […] [Read More]

A dealership’s service center serves as a way to ensure customer loyalty and for many, also acts as a direct pipeline for trade-ins — but much of this depends on customer satisfaction. J.D. Power released the results of its 2014 U.S. Customer Service Index (CSI) Study — which measures customer satisfaction with service at a […] [Read More]

There’s no denying that vehicle recalls can be headaches for all parties involved — the manufacturers, dealers, prospective shoppers and drivers of the affected cars. And media coverage tends to convey as much. But the proactive step, itself, of making a recall is actually positive and can promote vehicle safety in a time where that […] [Read More]

In an effort to “streamline” the sales and finance data between Hyundai dealers and Hyundai Auto Canada Corp., Dealertrack Canada revealed Wednesday the launch of an advanced finance portal to all 210 Hyundai dealers in Canada. The new Hyundai-branded portal, powered by Dealertrack, will be directly integrated into the OEM's systems. This will work to […] [Read More]

Credit union vehicle buying resource GrooveCar Direct formed partnerships with four national credit unions this week. The newest additions to the service provider’s network include —Corporate America Family Credit Union of Elgin, Ill. —First Alliance Federal Credit Union based in Rochester, Minn. —Morgantown AES Federal Credit Union of Morgantown, W. Va. —Wymar Federal Credit Union […] [Read More]

With only about a month of data and originations in the portfolio, CarMax leaders are still waiting for more seasoning and growth to occur before making a significant evaluation of their new subprime financing initiative they launched at the beginning of the year. According to its report when CarMax closed the fourth quarter of its […] [Read More]

The performance of vehicle installment contracts improved slightly in the fourth quarter, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin released today. As the economy improved and consumers conscientiously managed their finances, analysts found the composite ratio, which tracks delinquencies in eight closed-end installment loan categories, fell 4 basis points to […] [Read More]

Toyota is recalling more than 6 million vehicles worldwide in five actions covering nearly 30 different models. Of those actions, two impact Canada. Of the more than 6 million units involved in the recalls announced this morning by Toyota, over 500,000 of these vehicles are in Canada. According to a statement from Toyota Motor Corp. […] [Read More]

AutoCanada announced this week it has increased its existing syndicated credit agreement by $60 million, bringing total availability to $190 million.  The facility now includes HSBC Bank Canada, Alberta Treasury Branches, and Royal Bank of Canada with HSBC acting as administrative agent to the Credit Agreement.  "We very much appreciate the support and continued confidence […] [Read More]

Toyota is recalling more than 6 million vehicles worldwide in five actions covering nearly 30 different models. Of those actions, two impact the U.S. According to a statement from Toyota Motor Corp. posted to Bloomberg.com, the five recalls tally up to 6.76 million vehicles spanning 27 Toyota models, the Pontiac Vibe and Subaru Trezia. The […] [Read More]