ALEXANDRIA, Va. — Last week, the National Credit Union Administration announced that Mission Federal Credit Union of San Diego purchased Autoland, a national vehicle-buying service provider. Autoland, founded in 1971, is a credit union service organization (CUSO) based in Chatsworth, Calif., that serves more than 200 credit unions nationwide. Founded in 1961, Mission is a […] [Read More]

Hertz Global Holdings announced Thursday that the Federal Trade Commission has issued a final consent order regarding its acquisition of Dollar Thrifty Automotive Group. The acquisition has been in the news for the past year, as Hertz acquired Dollar Thrifty in November 2012, pursuant to an interim agreement and proposed consent order entered into between […] [Read More]

Following the same trend seen this spring, June truck values in the lanes soared over 2012 rates. According to Kelley Blue Book, the average auction value for 1- to 2-year-old mid-size pickups rose 0.3 percent in June from May values. But more significantly, when compared to June 2012, average auction values for used mid-size trucks […] [Read More]

Sonic Automotive went live on Wednesday with its technology strategy to use iPhones, iPads and corresponding apps to boost efficiency throughout the dealer group, especially in the sales and services departments at its franchised dealerships. Sonic president Scott Smith emphasized that iOS devices and in-house apps have helped drive the company’s rapid expansion by streamlining […] [Read More]

The used-car market saw increased interest in a somewhat unusual segment in June, according to the latest Kelley Blue Book Hot Used Car Report: Hybrids. With gas prices holding at relatively steady rates for the month of June, price drops in hybrids are credited for a 4.1 percent growth in shopping activity on KBB.com, month-over-month. […] [Read More]

With women accounting for more than two-thirds of all dealership service visits, Women-Drivers.com notes that it’s wise for dealers to address the specific needs of these customers.    The company, which captures dealer reviews from women about their dealership experience, has released its mid-year report on the top auto brands for service, with scores measured […] [Read More]

Insurance Auto Auctions is participating in a corporate-wide, fundraising event to support Alex’s Lemonade Stand Foundation (ALSF). During the month of August, IAA plans to sell lemonade at 142 of its 161 North American branches as well as its Chicago-based headquarters to help generate $125,000 toward supporting the organization’s mission of funding research into new […] [Read More]

Just last October, Superstorm Sandy rocked the Eastern Seaboard, and many emergency responders risked their lives to help communities recover and return to normalcy. In appreciation of the work the firefighters of Brooklyn, N.Y., have shown in the wake of the storm, the American Auto Auction Group has donated a 15-passenger van to the Friends […] [Read More]

ATLANTA and WASHINGTON, D.C. — During the same span in which Equifax indicated new credit for auto loans hit the highest level in more than eight years, the American Bankers Association's Consumer Credit Delinquency Bulletin showed buyers are doing a better job of keeping up with their payments. The bulletin noted that delinquencies for both […] [Read More]

WASHINGTON, D.C. — U.S. Senate leadership clashed again Thursday during speeches on the chamber floor about confirmation of the Consumer Financial Protection Bureau's director and six other presidential appointees. The Majority Leader, Sen. Harry Reid, threatened to leverage the voting support he believes he has in the Senate to eliminate the chance for a filibuster […] [Read More]