The National Highway Traffic Safety Administration said Mitsubishi Motors North America is recalling a little more than 10,000 units to correct a powertrain issue. Mitsubishi’s campaign covers Lancer Evolution vehicles from the 2008 through 2013 model years and manufactured from December 12, 2007, through March 5 of this year. In the affected vehicles — a […] [Read More]

FORT WORTH, Texas — As the company grew consumer loan originations by $1 billion year-over-year, General Motors Financial posted a $38 million rise in earnings during the third quarter, according to its latest financial statement released this morning. The company reported earnings of $161 million for the quarter that ended Sept. 30. That figure is […] [Read More]

SAN DIEGO — Digital Recognition Network indicated that its license-plate recognition solution determined that more than 55 percent of the assets the company finds are more than 100 miles away from where previous documentation said the vehicle should have been. Chief executive officer Chris Metaxas explained how finance companies can use that information not only […] [Read More]

NEW YORK — Politicians and consumers are voicing their displeasure about all of the trouble with the federal website for the health insurance marketplace created by the Affordable Care Act, better known in today's headlines as Obamacare. But one legal expert pointed to the efficiency of the website operated by the Consumer Financial Protection Bureau […] [Read More]

CARY, N.C. — There is no denying the sweeping changes throughout all the tentacles of the auto industry stemming from the Consumer Financial Protection Bureau's auto finance-targeted actions. But there are at least some public dealer group that say they aren't seeing any behavior changes from lenders, with F&I results actually remaining quite strong. According […] [Read More]

Not only did Penske Automotive Group sell nearly 14 percent more used vehicles in the third quarter than it did a year ago, but the retailer also made more money on each of the used cars it sold. Penske moved 43,518 used retail units in the third quarter (including U.S. and international operations), which was […] [Read More]

First launched in January, online used-vehicle retailer Carvana unveiled a new tool today to further enhance what the company said is transparency in the purchasing process. Carvana launched its market price comparison tool called FairCompare, which is designed to allow consumers to evaluate the price of a Carvana vehicle side-by-side with comparable models in their […] [Read More]

Digital Recognition Network indicated that its license-plate recognition solution determined that more than 55 percent of the assets the company finds are more than 100 miles away from where previous documentation said the vehicle should have been. Chief executive officer Chris Metaxas explained how finance companies can use that information not only as a tool […] [Read More]

Keep sales high and costs low — dealers know the drill, and new services announced this week by Car-Research XRM are meant to address that challenge. The new automotive customer relationship management services available to dealerships through Car-Research XRM can be used to drive sales through enhanced Internet marketing efforts and improved research data, the […] [Read More]

All in all, the 2013 third quarter was good for public dealer companies. No surprise, strong new- and used-vehicle sales, coupled with gains in F&I, parts and service, drove a largely positive financial performance for the groups reporting their quarterly results last week. In reviewing the earnings call transcripts from Asbury Automotive Group, AutoNation, Group […] [Read More]