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]

A few surprises top the winners list in the Kelley Blue Book 2014 Brand Image Awards, announced today and based on annual new-car buyer perception data.  Earning Best Overall Brand with the highest average scores among all 12 Brand Watch factors is Honda, for the second year in a row. Brand Watch factors include affordability, […] [Read More]

Subaru of America recently announced its 2013 Auction of the Year — an award based on sales effectiveness and service quality — and taking this year’s honors is Manheim New Jersey. Subaru determines the winning auction by tracking and measuring three key components: total sale percentage, retention to goal price and number of unique buyers. […] [Read More]

For every iteration of smartphone products to hit the market, it seems as if consumer demand to replace their current device is moving just as fast as the technology. In fact, a study from Swapalease.com cites data from Recon Analytics indicating that Americans, on average, change their phones after about 22 months — and this […] [Read More]

Copart launched its first-ever competition on Tuesday called the Copart Rebuild Challenge, a contest designed for car enthusiasts and auto rebuilders to show how they restored, customized or rebuilt a vehicle. From April 14 to July 6, enthusiasts and rebuilders can enter the Copart Rebuild Challenge by submitting a video less than three minutes in […] [Read More]

Though many were expecting used prices to decline toward the end of March, rates remained high, and they aren't expected to drop until later this month. According to NADA Used Car Guide’s latest Guidelines report, this indicates prices won’t fall off during the first few weeks of April. Jonathan Banks, NADA UCG executive analyst, said […] [Read More]

The lists of used vehicles most researched in March at NADAguides.com as well as Kelley Blue Book’s website reinforced how diverse the customer base is that dealers are trying to serve nowadays. Among the top 10 most-researched used models at NADAguides.com, the first three models were full-size pickups, led by the Ford F-150, then the […] [Read More]