June used-vehicle sales were up from both May and the year-ago period, according to CNW Research, but apparently, they weren’t expected to be this strong. CNW president Art Spinella explained that a “late-month surge in used-car shoppers and buyers in the franchised and private-party channels put the used-car market well above the mid-month projections.” Total […] [Read More]

Among several other automakers already reporting strong certified pre-owned results for June, Hyundai Motor America said Tuesday it achieved its strongest month ever for certified sales, moving 6,775 units for a 7.5-percent uptick. First-half CPO sales for the company reached 37,423 units for a 12.9-percent hike. Hyundai was joined by several other brands sharing June […] [Read More]

NextGear Capital announced on Tuesday that the company moved its vice president of customer service over to be its vice president of operations and business development for the Western region of the United States. Now with oversight of the rapidly developing growth throughout the Western region is Randy Dohse. NextGear Capital chief operating officer Shane […] [Read More]

Ever since the Consumer Financial Protection Bureau released its fair lending guidance to indirect auto lenders on March 21, dealers and lenders have questioned the basis for the guidance — and now Washington lawmakers are, as well.   The foundation for the CFPB’s guidance wholly rests on a disputed theory of liability called “disparate impact.” […] [Read More]

Does marketing your service department online make sense? Is it profitable? These are some of the questions Paul Potratz tackles in this week’s “Think Tank Tuesday” video report. In this week’s offering, titled, “Do you have an SEM strategy for service?,” the chief operating officer and founder of Potratz Partners Advertising delves into why it […] [Read More]

One automaker has just announced it will continue a philanthropic campaign to assist American students. After providing educational resources to nearly 500,000 public school students across America last year, this week Kia Motors America made the announcement that it will extend its philanthropic partnership with online charity DonorsChoose.org.  As part of that continuing partnership, Kia […] [Read More]

WASHINGTON, D.C. — How the Consumer Financial Protection Bureau is conducting its business continues to be questioned by leaders on Capitol Hill. On Tuesday, Sen. Mike Crapo requested that the Government Accountability Office (GAO) investigate what he called the "big data" collection effort being undertaken by the CFPB on consumer spending habits. Crapo, an Idaho […] [Read More]

BANDON, Ore. — The opportunity for subprime and deep subprime customers to secure financing helped the June used-vehicle sales total to climb well above CNW Research's initial expectations. CNW found June sales were up from both May and the year-ago period, but president Art Spinella didn't expect the figure to be this strong. Spinella explained […] [Read More]

ARLINGTON, Texas — SFG Finance, a purchaser of paper from buy-here, pay-here dealers, franchised stores, finance companies, banks and credit unions, recently added three industry veterans to its team. In light of enjoying significant year-over-year increases in volume, SFG Finance brought in these executives: —Adrienne Schlitz as senior vice president and manager of acquisitions —Mike […] [Read More]

TALLAHASSEE, Fla. — Auto Data Direct pointed out that tow, storage and recovery businesses in Florida should now be encountering changes in requirements for the good faith letter process and certificate of destruction procedures based on a new law passed by the Florida Legislature. As a result, ADD is offering what it believes is an […] [Read More]