NADA Used Car Guide executive analyst Jonathan Banks predicted strong sales performances for both used and new models for the rest of this year. In a video interview on “AutoFocus with David Hyatt,” Banks reviewed first-quarter results and discussed the positive impact the recovering economy is having on sales of cars and trucks. “Everyone talks […] [Read More]

Some dealers might think Bill Simmons, general manager of Haley Toyota Certified in Richmond, Va., is getting ahead of himself with his used vehicles. The reason: Simmons doesn’t wait until cars arrive at his dealership from the auction to get them online. Most Friday nights, he’s working past 11 p.m. to cull photos and create […] [Read More]

As its report highlighted the latest battle between popular vehicle segments, Dataium’s newest Automotive Shopper Intensity Index ticked up 0.14 percent in March. As a result, the aggregator of in-market automotive shopper behavior projected the U.S. retail new-vehicle SAAR in April to be 12.3 million units. In March, analysts found the truck, sedan and compact […] [Read More]

Converting Internet chat into sales leads for dealers is the object of a new tool introduced by FordDirect. The company on Tuesday announced LiveConnect Communication Service, an enhancement to its product offerings it said “enables dealers to better engage with consumers in real time through their websites.” A dealer-managed chat solution, LiveConnect tracks a car […] [Read More]

This week, Dealertrack Technologies announced the election of Joe Payne to its board of directors, raising the size of the management group to nine members. “Joe Payne brings a wealth of experience to our Board, and we expect him to be a valuable asset to our team as we deliver the market leading suite of […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 SOUTHFIELD, Mich. — After closing a quarter when the company posted strong gains in both consolidated and adjusted net income, Credit Acceptance Corp. leaders reflected on how they arrived at those first-quarter achievements. Three topics kept returning to the conversation when Credit Acceptance conducted a conference […] [Read More]

DALLAS — The new private-label, full-service lending program of Santander Consumer USA and Chrysler Group officially launched today. Chrysler Capital is designed to offer a broad spectrum of financing services for Chrysler customers and dealers. Under a 10-year, private-label agreement announced Feb. 6, Chrysler Capital operates as a stand-alone company, managed jointly by Santander Consumer […] [Read More]

NEW YORK — As expected by Fitch Ratings, U.S. auto ABS posted "stellar" seasonal results in March. Fitch indicated both losses and delinquencies declined across prime and subprime auto ABS even as used-vehicle values softened, a trend analysts are expecting to continue for the remainder of the year. "Despite volatility and uncertainty, economic conditions are […] [Read More]

PHOENIX — MBSi Capital, the developer of the Re-Pros and iRepo repossession software suites, rolled out what it's calling the repossession industry's first full-featured mobile application. The company highlighted the solution can enable repossession companies to manage and update assignments remotely in real time. Available for Android and iOS, the Repo Ninja mobile application can […] [Read More]

City Enterprises, parent entity of City Auto and Dealers Auto Auction, along with Phil Hanks, former president of Primeritus Financial Services, created a joint collaboration resulting in the formation of Connect 1 Recovery, a full service collateral recovery company. Connect 1 Recovery is headquartered in Nashville, Tenn., and operates in Maryland, Tennessee, Georgia, Texas and […] [Read More]