The National Highway Traffic Safety Administration said Hyundai and Kia both announced vehicle recalls in states where snow and ice — and materials used to treat highways in those places — are common. The largest campaign covers 79,867 units as Kia is recalling certain model year 2006 through 2012 Kia Sedona vehicles manufactured from June […] [Read More]

Evidently, U.S. lawmakers still are unclear about how the Consumer Financial Protection Bureau is going about the policing of indirect auto lending, as another Senate democrat and House republican fired more questions to the new agency. Within four days following this month’s CFPB’s Auto Finance Forum, a member of Senate Banking Committee and the House […] [Read More]

As the Thanksgiving holiday approaches, Edmunds.com turned its attention to end-of-month used-car sales projections, saying Thursday that it believes November will finish up with about 2.66 million used cars sold. This would represent a SAAR of 36.5 million. The November monthly unit sales projection would be decrease from October used-car sales of 3.04 million, but […] [Read More]

Swapalease.com executive vice president Scot Hall said he believes price trends in the lease market could get “particularly interesting” in coming months, given how lease penetration has remained in the 25-percent ballpark. And there were some rather interesting lease pricing trends spotted by Swapalease in the month of October, as well. Overall, Swapalease found that […] [Read More]

In this tight used supply environment, creating loyal, repeat customers can be extremely pivotal for a dealership, as trade-ins have been highly sought-after. That said, a Maritz research study shows that many dealers have a lot of room for improvement when it comes to retaining open lines of communication with customers after they leave their […] [Read More]

Twenty-one years and 2,100 units linked the DAA Northwest 21st anniversary sale, held Nov. 6-7 and marking the auction’s inaugural offering from Toyota Financial Services. The 61-percent sale event saw a “dramatic lift in consignment, dealer attendance and sales,” the company noted, and took place in conjunction with the auction’s annual charity fundraiser.  It was […] [Read More]

In the latest online video in his series, “Hard Facts with Dennis Galbraith,” the chief marketing officer of Potratz Advertising offered advice not only to turn that inventory that’s getting long in the tooth, but also how to leverage the most out of those vehicles he said are “hotter than donut grease.” Galbraith began with […] [Read More]

WESTLAKE VILLAGE, Calif. — The J.D. Power 2013 U.S. Consumer Financing Satisfaction Study showed those initial steps in the F&I process determine which companies score high marks with consumers and which ones do not. According to the study released today, lenders that provide excellence in the servicing and onboarding experiences from the beginning of the […] [Read More]

ONTARIO, Calif. — Along with an alliance with a Utah-based subprime finance company, CU Direct Corp. recently finalized new partnership agreements with nine credit unions. As a result of the agreements, officials highlighted the credit unions will be incorporating products from CU Direct's suite of auto lending solutions to drive loan growth, business efficiency and […] [Read More]

COLLEYVILLE, Texas — Michele Myers, vice president of financial services of the New York-based Dorschel Group, recently posted a perfect score on the rigorous 200-question Association of Finance & Insurance Professional Senior Certification Exam. In 23 years of administering the exam, AFIP executive director David Robertson said Myers is only the fourth person to answer […] [Read More]