MEDFORD, Ore. — Lithia Motors attempted to explain why its origination level of financing to subprime customers fell below what company executives cited as the national penetration reading for the third quarter. During its quarterly conference call last week, Lithia reported that 11 percent of its sales went to subprime customers. The company believed the […] [Read More]

NEW YORK — Fitch Ratings indicated performance of U.S. auto ABS continues to exceed expectations even in a time of the year when performance is weakest. Analysts determined annualized net losses were flat for prime auto loan ABS in September. "A major factor is the used vehicle market's somewhat unusual resiliency," Fitch said. "Used-vehicle values […] [Read More]

CARY, N.C. — Sponsored by business analytics company SAS, a recent study of 250 executives from retail and commercial banks showed evolving security threats, technology limitations and simple lack of awareness make cyberrisk a daunting hurdle for today's institutions. The survey orchestrated by Longitude Research cited lost customer trust as the most significant impact from […] [Read More]

ADESA revealed today it has made a few changes within the reporting structure for a few “key” personnel in an effort to better serve its dealer customers. Now, the company’s e-business department, customer relationship management team and inside sales division will report directly to Tim Zierden, senior vice president of dealer sales and services.   […] [Read More]

Automakers are writing lease deals at origination levels rarely seen nowadays, but CNW Research’s analysis of current contracts prompted the firm to insist a severe financial storm front could be coming. CNW indicated that automakers’ drive to increase leasing share is putting them on a track to lose from $5 billion to $8 billion within […] [Read More]

AutionNation revealed its third-quarter results Thursday, showing some good news for the company’s pre-owned department. Retail used-vehicle unit sales increased 15 percent overall and 11 percent on a same-store basis during Q3, AutoNation reported. More specifically, AutoNation retailed 52,659 used units overall during the quarter and has moved 155,280 so far this year (up 12.5 percent. […] [Read More]

POADA is hosting a free Market Intelligence Webinar with Carfax next week that will hone in on the “Mobile Marketing Revolution” and show dealers how using mobile devices can not only help engage current customers and reach out to new ones, but also aid dealers in acquiring the right used vehicles for their lots. More […] [Read More]

Group 1 Automotive sold 22,206 used retail vehicles in the U.S. during the third quarter, more than a 5-percent year-over-year increase and a contributing factor to the revenue gains for the retailer. Group 1 reported total U.S. revenue of $1.89 billion during the quarter, which was up 4.1 percent from the third quarter of 2012. […] [Read More]

Ally Financial said Thursday that 57 dealers have been selected as nominees for the 2014 TIME Dealer of the Year award, which recognizes the nation's most successful dealers who also demonstrate a long-standing commitment to community service. Now in its 45th year, the TIME Dealer of the Year award is recognized as one of the […] [Read More]

Though used sales in October have slowed a bit due to the government shutdown earlier this month, Edmunds.com announced Thursday it is predicting October sales will “keep pace.” The site is predicting an estimated 3.06 million used cars will be sold in October, for a SAAR of 35.6 million (compared to 3.02 million — or […] [Read More]