WASHINGTON, D.C. — Along with testifying in front of the Senate Banking Committee about the agency's semiannual report, the director of the Consumer Financial Protection Bureau made several changes and new additions to the CFPB's senior leadership this week. Director Richard Cordray announced who will be the regulator in the newly created office of financial […] [Read More]

LAS VEGAS — Only five days remain for dealers to obtain discounted registration and accommodations for next month's Dealer Academy and National Conference orchestrated by the National Alliance of Buy-Here, Pay-Here Dealers. NABD founder and event organizer Ken Shilson said only about 15 percent of the room block remains at the Wynn in Las Vegas […] [Read More]

CHADDS FORD, Pa. — Among a host of other developments, indirect auto finance company Flagship Credit Acceptance completed an asset-backed securitization of $222 million of notes in a transaction that closed last week. Flagship highlighted that the notes were issued in four tranches and were assigned ratings by Standard & Poor's Ratings Services and Kroll […] [Read More]

WASHINGTON, D.C. — As Financial Literacy Month continues, Americans Well-informed on Automobile Retailing Economics wanted to clear up some common vehicle financing misconceptions. Officials from the educational coalition explained that common vehicle financing myths can knock car shoppers off course. To help consumers make informed choices, the AWARE broke down a series of common mistaken […] [Read More]

Going into this week’s fifth annual North American Repossessors Summit, the executive director of the American Recovery Association made a call for what he described as “industry unity” in terms of fees and services offered. ARA’s Les McCook stressed that it’s time for all repo associations to “step up and support their members in every […] [Read More]

Through two months of 2013, the year-to-date used-vehicle sales figure for the average franchised dealer was 1.5 percent stronger than where it was a year ago, according to the most recent NADA Dealership Financial Profile. The data indicates that the used-car department of a franchised dealer, on average, generated more than $2 million in sales […] [Read More]

ADESA has rolled out a new U.S. website, the company announced today. It said in a press release that ADESA.com was built on the technology of OPENLANE, which was acquired by ADESA in late 2011. The new website is designed to be a “comprehensive end-to-end vehicle remarketing solution” for wholesale buyers and sellers, the company […] [Read More]

In a quest to help returning military service personnel locate civilian jobs, the Chicago Automobile Trade Association has introduced a new initiative to provide automotive sales training and employment opportunities. The initiative, dubbed Operation Troop Train, is a partnership between the CATA and the Illinois Department of Employment Security, which is helping to identify 40 […] [Read More]

Coming in a quarter when its earnings rose 2.6 percent, Sonic Automotive announced this morning that the group’s dealerships set a new company record for used-vehicle sales volume during the month of March. Sonic said its stores retailed nearly 9,400 used models in March, pushing its quarterly total to 26,469 vehicles. That figure is up […] [Read More]

Auto and truck dealers who missed workshops at recent industry conventions have a second chance to find that information, online. The National Automobile Dealers Association has announced that workshops held at the 2013 NADA Convention, as well as the American Truck Dealers Convention, are now available online at www.NADAUniversity.com. “If you couldn’t make it to […] [Read More]