Toyota Motor Sales USA announced a recall this week of approximately 87,000 cars from the 2010 model year. Toyota said it will conduct a voluntary safety recall involving the 2010 Toyota Prius and Lexus HS 250h vehicles.   (The worldwide recall involves approximately 242,000 vehicles, a Toyota spokesperson indicated.) The recall is based on a […] [Read More]

As subprime financing showed more signs of strengthening, too, Experian Automotive determined new-vehicle leasing during the first quarter rose to the highest level since the firm began tracking the data in 2006. According to its State of the Automotive Finance Market report released on Tuesday, Experian indicated leasing accounted for a record 27.5 percent of […] [Read More]

The National Auto Auction Association noticed overall wholesale volume declined 0.4 percent during the first quarter, but the organization insisted the lanes showed plenty of life as time passed. During Q1, NAAA economist Ira Silver pointed out an increase in dealer consignment was offset by a decline in commercial consignment, leaving the overall mark slightly […] [Read More]

On Tuesday, Chrysler Group responded to a NHTSA recall letter that involved a total of approximately 2.7 million vehicles. The recall request letter deals with the Jeep Grand Cherokee in model years 1993 to 2004 and the Jeep Liberty in model years 2002 to 2007. The recall request calls into question certain models in regards […] [Read More]

The volume of hybrid and plug-in cars is growing, and Black Book’s Ricky Beggs says hybrid price retention is closing the gap versus sister gas models. According to www.hybridcars.com, the level of hybrid-only penetration has grown from 3.15 percent of the market in 2012 to a current level of 3.34 percent through April; electric versions […] [Read More]

NCM Associates and DrivingSales University revealed Tuesday a dealership training alliance in an effort to address the “need for Web-based training" in the areas of digital sales and marketing best practices. DrivingSales University is an on-demand, Web-based training platform “focused on teaching the latest Web strategies from a variety of top e-commerce experts,” the company […] [Read More]

Following the devastating tornado in Oklahoma last month, several areas of the state continued to be pummeled by heavy storms and flash flooding, including another round of twisters on Friday, the second in two weeks. To help dealership employees affected by the deadly storm that struck Moore, Okla., on May 20, the Oklahoma Auto Dealers […] [Read More]

CARY, N.C. — As the calendar approaches the midpoint of 2013, lenders, dealers and service providers are getting a clearer picture about just how unusual this year's tax season was for the used-vehicle industry. Among the perspectives collected by SubPrime Auto Finance News, the two-decade-old viewpoint from Bill Neylan, the president and chief executive officer […] [Read More]

SCHAUMBURG, Ill. — As new-vehicle leasing hit record levels, Experian Automotive's latest analysis showed how much momentum the subprime finance sector gained during the first quarter. According to its State of the Automotive Finance Market report released on Tuesday, Experian found that the market share for finance companies — lenders such as Santander Consumer USA […] [Read More]

BEAVERTON, Ore. — Westlake Flooring Services recently entered into an agreement with Quiktrak, an asset verification and inventory audit solutions provider to handle the auto finance company's field auditing services. Officials highlighted Westlake has experienced tremendous growth in just a few short months since launching a full-service dealer flooring product. Westlake intends to utilize Quiktrak's […] [Read More]