NEW YORK — Fitch Ratings recently published an updated asset-backed sector specific criteria report for U.S. auto loan ABS. The firm indicated the new report updates and replaces the prior criteria report published last April. "There have been no material changes from the previous version; therefore Fitch expects no impact on outstanding ratings," Fitch analysts […] [Read More]

SACRAMENTO, Calif. — Commenting on a potential inventory for buy-here, pay-here dealers or stores that might cater to subprime buyers, John Brasher of Brasher's Sacramento Auto Auction noted a particular used segment showed well in the lanes this past week. With dealers reporting good retail sales of late, Brasher said in his post-sale report for […] [Read More]

Are consumers going to spend their income tax refunds at dealership service departments and showrooms or are they going to put that money in a savings account for later? Recent surveys by USAA and eBay Motors showed consumers might be heading in different directions. A survey commissioned by eBay Motors this tax season revealed that […] [Read More]

Autobytel this week revealed its first-ever Autobytel Dealer of the Month, for March. The recipient of the inaugural award is Patti Scipione, manager of M’Lady Nissan of Crystal Lake, Ill.   The new Dealer Awards Program honors Autobytel dealers who “employ the highest standards in customer service, Internet automotive retail sales and lead management processes,” […] [Read More]

Manheim revealed Thursday it has names a chief technology office. Manheim has selected Michael Noel for the role. Noel will report to executive vice president and chief operating officer Janet Barnard, effective May 6.   In his new role, Noel will lead Manheim’s technology systems, applications and operations.  “We are thrilled to have Michael join […] [Read More]

As final March sales numbers roll in, there’s a new Japanese midsize car on top. NADA’s Jonathan Banks reported that Nissan “narrowly” edged out both Toyota and Honda for the number one midsize car sales spot. In Banks’ latest post on the NADA Used Car & Truck Blog, he reported Nissan Altima’s total sales numbers […] [Read More]

Toyota, Honda, Nissan and Mazda are among the automakers planning recalls stemming from an airbag issue created by a defective product manufactured by one of the industry’s largest suppliers. Among the 3.4 million units worldwide expected to be recalled, Toyota, Honda and Mazda offered specific details on Thursday about which models are subject to issues. […] [Read More]

Primeritus Financial Services, which offers recovery management, skip-tracing and remarketing services, announced this week it has sold its remaining direct recovery repossession business. Primeritus sold the business to Connect 1 Recovery, finalizing Primeritus’ exit from the direct recovery business. “Connect 1 Recovery LLC will be an important service provider for Primeritus as a multi-state network […] [Read More]

PHOENIX — DriveTime Automotive Group posted gains in total revenue, unit sales and originations in 2012, according to its reports filed with the Securities and Exchange Commission this week. Officials said DriveTime dealerships posted a 7-percent gain in unit sales, turning 59,930 vehicles in 2012, up from 56,109 units in 2011. The company's 2012 originations […] [Read More]

MASON, Ohio — In an effort to help dealers showcase the product to potential buyers in the F&I office, TriStar officials recently announced they have released two new promotional videos on YouTube about their vehicle service contract.  The company explained TriStar Freedom Guard is designed to help service members keep their vehicle running smoothly. Should […] [Read More]