CHICAGO and SAN JOSE, Calif. — As CNW Research noticed subprime auto loan approvals rising year-over-year by at least 40 percent yet again this month, TransUnion and FICO Labs spotted potential trouble on the horizon for lenders and dealers working with customers who absorbed significant debt to fund higher education. A recent TransUnion study revealed […] [Read More]

DEARBORN, Mich. — Ford Motor Credit explained why its pre-tax profit of $1.7 billion in 2012 dropped from $2.4 billion a year earlier. The company said when releasing its fourth-quarter and full-year financial report on Tuesday that the decrease in pre-tax earnings stemmed from fewer lease terminations, which resulted in fewer vehicles sold at a […] [Read More]

ATLANTA — Global Lender Services entered into a marketing agreement this week with one of the best professional basketball players ever, Julius Erving. To promote the GLS brand as well as its subprime auto finance products and services, this partnership calls for Erving, better known by the nickname Dr. J, to appear in GLS branded […] [Read More]

REDWOOD CITY, Calif. — After climbing for two months in a row, the latest RDN Monthly Analytics Update indicated December recovery volumes decreased 1 percentage point from the November level, leaving 2012 closing on a trend of consecutive month-over-month dips. However, the December reading came in flat against year-earlier levels. Countering that downward movement, RDN […] [Read More]

The American International Automobile Dealers Association is reminding dealers they still have time to register for the group’s 43rd Annual Meeting and Luncheon at next month’s NADA Convention and Expo in Orlando, Fla.   In addition to a keynote address from Mercedes-Benz president and chief executive officer Steve Cannon, AIADA’s annual meeting and luncheon will […] [Read More]

After climbing for two months in a row, the latest RDN Monthly Analytics Update indicated December recovery volumes decreased 1 percentage point from the November level, leaving 2012 closing on a trend of consecutive month-over-month dips. However, the December reading came in flat against year-earlier levels. Countering that downward movement, RDN indicated December recovery orders […] [Read More]

As the regulator who handed out the single highest civil penalty amount ever paid to the National Highway Traffic Safety Administration, U.S. Department of Transportation Secretary Ray LaHood announced this morning that he would not be staying on for the second term in President Barack Obama’s cabinet.  LaHood’s time as secretary included last month’s agreement […] [Read More]

As $45,000 went to support a children’s charity, ADESA Phoenix recently wrapped up its Annual Legendary Sales Week with more than 1,600 dealers participating in the three-day event. Attendees were able to access a diverse selection of inventory during the auction’s regular weekly fleet and consignment sale as well as several special events. In addition […] [Read More]

More than 600 Volkswagen dealers across the U.S. will soon employ Xtime as their cloud-based, customer relationship management and scheduling platform.  Xtime on Tuesday announced an enterprise-wide agreement with Volkswagen of America to deploy Xtime’s ServiceCRM to all 600-plus dealers in its U.S. network. Currently, more than 200 Volkswagen dealers use Xtime; Xtime reports that […] [Read More]

As the average age of vehicles on the road continues to rise, it seems people are looking to keep their rides longer than ever.  According to a recent KBB.com home page poll, a third of respondents said they intend to keep their next vehicle purchase for 10 years or more. And this is quite a […] [Read More]