NEW YORK — As subprime auto ABS metrics softened a bit, Fitch Ratings noticed net loss levels for U.S. prime auto ABS dropped for the fourth straight month. Analysts said that continued low delinquencies are signaling firm footing for overall asset performance heading into the slower summer months. "Factors contributing to solid auto ABS asset […] [Read More]

PHILADELPHIA — VINtek, a provider of automotive collateral management, electronic lien and title (ELT) services and direct finance processing for automotive lenders, reached a new customer milestone. The company recently signed its 3,000th ELT client. VINtek explained ELT replaces a paper title and lien with data exchanged electronically between a department of motor vehicles (DMV) […] [Read More]

NASHVILLE, Tenn. — After a year of multiple acquisitions, restructuring and rebranding, Primeritus Financial Services celebrated the company's 500,000th repossession assignment this week. Primeritus Financial Services chief executive officer Chuck Tapp reflected on the accomplishment and shared when he hopes the company will hit its next milestone in connection with its recovery management, skip-tracing and […] [Read More]

HAUPPAUGE, N.Y. — GrooveCar is gearing up for its 14th annual summer sale aimed at helping dealerships move more metal through financing underwritten by some of Long Island's largest credit unions. During this exclusive 10-day event that runs from July 12 through 21, 100 Long-Island based dealers will participate in the sale offering steep discounts, […] [Read More]

General Motors of Canada has appointed a new vice president of sales, service and marketing. Tapped for the new VP position is John Roth, who succeeds Marc Comeau, who will move to GM Korea. In his latest role, Roth was the regional director responsible for the Cadillac South Central Region within U.S. sales and service. […] [Read More]

Manheim Canada announced this week there is a new general manager at Manheim Halifax. Appointed to the role is Howard Connolly. The company shared that Connolly brings more than 30 years of automotive and auction experience to the role. His career includes 16 years in the remarketing industry serving in a variety of roles including […] [Read More]

“Facebook can’t be used for sales.”   “SEM and SEO are just black holes for advertising dollars.” “Social advertising isn’t profitable.” These are just a few of the arguments dealers are faced with as they try to enter the worlds of social media and search engines to advertise their vehicles. However, many experts and consultants […] [Read More]

The annual report from the National Automobile Dealers Association showed sales figures generated at franchised dealerships’ service and parts departments as well as body shops in 2012 exceeded $80 billion for the second year in a row. The exact figure according to NADA Data 2013 came in at $81.35 billion, representing a 0.1-percent dip from […] [Read More]

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]