ALG announced this week at the Canadian International Auto Show the winners of its sixth annual Canadian Residual Value Awards. Toyota vehicles led the pack with the most segment awards, but Honda and Acura once again earned top awards for best Mainstream Brand and Premium Brand for retention, respectively. This is the second consecutive year […] [Read More]

AutoCanada Inc. announced it has been awarded the right to a Volkswagen open-point dealership in Sherwood Park, Alberta, and the company has big plans for the spot. AutoCanada aims to build an approximately 45,000 square-foot-facility, which will be designed to Volkswagen Canada image standards. Construction is set to be completed in the first quarter of […] [Read More]

Auction EDGE has announced that it will conduct a dual-phase rollout of its EDGE Marketplace, beginning with a preview release during the NAAA/CAR event on Wednesday and Thursday. The official launch for EDGE Marketplace is set for March 24. This will coincide with an online buying and selling event through EDGE Now, which is a […] [Read More]

Ally Financial's Relationship Management Center recently launched a new feature that can gives dealers the ability to send customers firm offers of credit. Ally explained the RMC is an online lead generation platform that can enable dealers to create and send high-quality direct marketing campaigns quickly and affordably with a few clicks of the mouse. […] [Read More]

Consumer Portfolio Services navigated more pronounced subprime vehicle financing competition during the fourth quarter en route to record pre-tax profits for the year. The company reported this week that its Q4 earnings totaled $6.5 million or $0.21 per diluted share. This figures compares to net income of $64.8 million or $2.20 per diluted share in […] [Read More]

Fiserv highlighted that dealers and lenders used its Automotive Loan Origination System (LOS) to process more than 13.6 million credit applications last year, an increase of 16.5 percent from the 2012 total. Fiserv said more than 4.6 million contracts were funded on Auto LOS — a 14.3 percent increase over 2012 — of which nearly […] [Read More]

Because leadership had to literally "turn people away at the door" last month, the first module of the National Automotive Finance Association's Consumer Credit Compliance Certification Program will be repeated. NAF Association officials said today that the first module will be available on May 28 and 29 in Fort Worth, Texas, running concurrently with part […] [Read More]

While General Motors Financial no longer is strictly the AmeriCredit used-vehicle financing platform of 10 years ago after acquiring a wide array of international interests, company leadership remains pleased with its position and performance in terms of originations to subprime customers for new and used vehicles at GM dealers or other stores. The company highlighted […] [Read More]

A presentation by Manheim chief economist Tom Webb as well as a keynote address by Joe Arpaio, who is known as "America's toughest sheriff," are some of the highlights of the next annual conference orchestrated by the National Vehicle Leasing Association. This year's event is set for March 31 through April 2 at Westin LaPaloma […] [Read More]

NextGear Capital this week announced a new floor planning integration with AuctionACCESS, a development that comes on the heels of a credit line availability integration between the two companies. Officials highlighted these moves will allow auctions to quickly and efficiently originate floor plan transactions for their dealer customers. "NextGear Capital is continually searching for ways […] [Read More]