When it comes to the new-vehicle lease market, there were three brands in a close race to lead market share in the fourth quarter, according to data from Experian Automotive. Honda, which took an 11.1 percent share of the new lease market, edged out Ford (11.0 percent) and Toyota (10.6 percent). This trio was followed […] [Read More]

Swapalease.com reports lease credit approvals during the month of February were at 66.6 percent, down from the 70.5 percent level in January and 73.3 percent level in December of 2013. Officials indicated February’s rate was the lowest since September of last year when the marketplace saw just 62.9 percent approvals from credit applicants. So far […] [Read More]

Dealers looking for off-rental vehicles from Hertz will be seeing them coming from a newly created operation. The Hertz board of directors announced on Tuesday that it approved plans to separate into two independent, publicly traded companies. The two companies will be Hertz, comprised of the Hertz, Dollar, Thrifty and Firefly rental car businesses as […] [Read More]

With the sixth annual North American Repossessors Summit (NARS) set to begin on Thursday, industry leaders reiterated their commitments as they formed the Council of Repossession Professionals. This group consists of two members from each of the following trade groups: — Allied Finance Adjusters (AFA) — American Lenders Service Co. (ALSCO) — American Recovery Association […] [Read More]

Experian Automotive found that fourth quarter repossession rates at what analysts categorize as finance companies — operations that do not hold commercial deposits but make vehicle loans — rose to their highest point since 2010. Fourth quarter repo rates for finance companies — which often cater to subprime buyers — jumped 76.3 percent year-over-year to […] [Read More]

It’s tax time, and for many, that also means it’s car shopping time. According to an online study conducted on behalf of CarMax, 17 percent of people expecting a tax refund are likely to put that money toward buying a car. And the likelihood of someone expecting a refund using that money for car buying […] [Read More]

While domestic models made up the majority of the Top 10 most-researched used vehicles at NADAguides.com last month, many of the brands boasting the greatest increases in consumer search activity were imports. According to the latest issue of Guidelines from NADA Used Car Guide, the Top 10 most-researched used models in February included: 1. Ford […] [Read More]

With automaker officials also reportedly meeting with congressional staff members today, General Motors chief executive officer Mary Barra named a new vehicle safety leader whose first priority will be to quickly identify and resolve product safety issues. Tapped for the position effective immediately is Jeff Boyer, who has been named to the newly created position […] [Read More]

Mobile data access right from the service lane is available via a new app extension. AutoLoop on Tuesday announced the debut of SmartLane, an app extension of AutoLoop Book, available for the Apple iPad. SmartLane allows auto dealerships running the Book program real-time access to customer data right from the service drive. “AutoLoop Book is […] [Read More]

Marketing the right vehicle to the right buyer — minus large ad spends for across-the-board targeting — is the aim of a new offering by Dominion Dealer Solutions. On Tuesday, the company announced the first of what it calls a “series of progressive and integrated product improvements” meant to assist dealers with their merchandising and […] [Read More]