The 2013 Vinventric Best Value in Canada awards were recently released, with three brands, in particular, topping the charts. First up, Toyota received its second consecutive award as Best Value Passenger Car Brand and picked up eight individual vehicle awards. Mercedes-Benz dominated the luxury category, retaining its Best Value Luxury Brand title and also picking […] [Read More]

Dealertrack Technologies announced it has appointed a new head to its Canadian operations. Named to the position of vice president and general manager of Dealertrack Canada is Michael McCarthy. The new hire has an extensive background in financial services. McCarthy is joining the company from Davis & Henderson, where he was vice president for lending […] [Read More]

RICHMOND, Va. — Eighteen percent of the used-vehicle units sales CarMax posted in the second quarter ending Aug. 31 were originated by third-party subprime finance providers, the company said in its earnings release earlier this week. This subprime penetration is up from 15 percent in the same period of 2012. In light of the contribution […] [Read More]

WASHINGTON, D.C. — As the agency's director reinforced the use of disparate impact to check for discrimination, a new report by the Bipartisan Policy Center's Financial Regulatory Reform Initiative includes several recommendations for the Consumer Financial Protection Bureau and Congress to improve the state of consumer protection, increase the efficiency of the financial services industry […] [Read More]

LAKE SUCCESS, N.Y., and MISSISSAUGA, Ontario — Along with revealing who is going to oversee its Canadian operation, Dealertrack Technologies entered an agreement to purchase VINtek, a provider of automotive collateral management, electronic lien and title and consumer automotive finance processing services. Dealertrack said this week that total consideration for the deal will likely be […] [Read More]

COLUMBUS, Ohio — Huntington announced this morning that it is expanding its growing auto dealer financing business into Iowa and added key personnel into the state to support the initiative.  "Huntington Auto Finance continues to expand its auto finance business in key states and is pleased to welcome dealerships in Iowa as our new valued […] [Read More]

Double-digit gains in retail and wholesale used-vehicle sales were among the key drivers cited by CarMax leadership in explaining the significant hikes the company saw in its sales and earnings during the second quarter of its 2014 fiscal year. It was what CarMax called better execution in its stores and a favorable consumer credit environment […] [Read More]

NetChoice — a public policy advocacy organization that promotes Internet innovation and communication — is continuing to work on keeping license plate recognition technology available as a tool to boost the efforts of the repossession and recovery industries. NetChoice recently assembled a new presentation to explain LPR technology and debunk myths about how the tool […] [Read More]

Dealer.com revealed an update to its Customer Relationship Management solution today that might be a big time-saver for dealers. The company’s CRM product has received ADP Dealer Services' Third-Party Access Program certification. Now, as a result of the certification, the company asserts dealers can "more efficiently" track and report sales and service progress in real-time […] [Read More]

Late Monday, Hertz Global Holdings announced that senior executive vice president and chief financial officer Elyse Douglas decided to step down from her current role for personal reasons. The move is effective as of Oct. 1, but the company said Douglas will stay with Hertz through Dec. 31 to help to complete several strategic projects […] [Read More]