Following a three-week promotion for the cause, Charleston Auto Auction and its dealers raised $5,000 for the Ronald McDonald House of Charleston. The auction held a 50/50 drawing each week to raise funds for the organization, which helps seriously ill children and their families. At the end of the promotion, Charleston Auto Auction matched all […] [Read More]

LARGO, Md. — Damon Lester, president of the National Association of Minority Automobile Dealers, sent a letter to President Barack Obama last week, articulating three possible ramifications if federal regulations eventually lead to the elimination of dealer markups. Lester outlined NAMAD's position in light of the Consumer Financial Protection Bureau sending out its guidance regarding […] [Read More]

CHICAGO — Fitch Ratings projected that U.S. auto lenders will likely report further weakening in asset quality metrics this year, attributing three reasons for its forecast. Analysts arrived at their assessment by mentioning three factors: —Lower used-vehicle values —Loosening of underwriting terms —Further seasoning of loan portfolios "Credit losses and delinquency rates increased on a […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute reported that total bankruptcy filings in the United States decreased 8 percent in April compared to the same month last year. According to data provided by Epiq Systems, bankruptcy filings totaled 100,702 in April, down from the year-ago total of 108,996. Consumer filings declined 7 percent to 96,344 […] [Read More]

FORT WORTH, Texas — Coming on the heels of an announcement earlier this week about an offer of $2 billion aggregate principal amount of senior notes in various tranches, General Motors Financial priced its private offering of $1.0 billion of 2.75 percent Senior Notes due 2016, $750 million of 3.25 percent Senior Notes due 2018 […] [Read More]

In the last chapter of our “How to sell to Gen X and Y” series, we talked about the death of the traditional buying funnel — and how our research has revealed a new car-shopping journey. [Read More]

Former new-car dealer Tarik Daoud says education offers freedom — that’s why he takes part in the National Automobile Dealers Charitable Foundation’s Ambassadors program, and points the way for other dealers to do the same. “I’ve always maintained that education leads to freedom,” said Daoud, 77, who serves as a trustee on the board of […] [Read More]

Blackline GPS recently reached an agreement with MVTRAC for the distribution of Blackline’s Dart covert and asset tracking system into the recovery industry. Well-positioned within the auto finance, government and law enforcement market, officials highlighted MVTRAC’s Intelligent Data Network can process real-time data from public and privates sources to automatically identify delinquent collateral, including vehicles, […] [Read More]

VinSolutions said today it will acquire Haystack Digital Marketing 'to help dealers maximize the value of their advertising spend." Haystak’s digital marketing toolset will be integrated with VinSoilutions customer relationship management and website products 'to help dealers increase consumer traffic to VinSolutions customer websites," the company explained. Haystak will also operate under its own brand, […] [Read More]

Soon after revealing a new deal for AAA customers, the Hertz Corp. announced it is relocating its corporate headquarters. The company will be moving its worldwide headquarters to Estero, Fla., from its current location of Park Ridge, N.J. This decision was made after its recent acquisition of the Dollar Thrifty Automotive Group, a deal which […] [Read More]