ALEXANDRIA, Va. — The New Year began with total bankruptcy filings in the United States heading on a downward path as the January level dropped by 11 percent year-over-year. According to data provided by Epiq Systems, the American Bankruptcy Institute said January contained 78,471 total bankruptcy filings, down from last January when 88,028 cases were […] [Read More]

Wholesale prices are still on the way up, though the rate increases are expected to be very slight this week. NADA Used Car Guide told Auto Remarketing that similar to last week, it expects used-vehicle prices to subtly climb; increasing by 0.2 percent, or $25, this time around. “Across segments, expected changes are predominantly positive, […] [Read More]

Survey results discovered by Ally Financial and KeyBanc Capital Markets through the recent National Automobile Dealers Association Convention & Expo reiterated how important the used-vehicle department is to franchised dealers. In its survey, Ally discovered that 47 percent of responding dealers said the used-vehicle department will be the most profitable within the dealership this year. […] [Read More]

The nation’s franchised dealer network has been stable for two straight years and appears poised for a third, and it will also likely hit another new-vehicle-sales-per-dealership record, according to Urban Science, which said new-car dealers have put “hundreds of things” into play to become more efficient. The retail consulting firm released its 2012 Automotive Franchise […] [Read More]

Chrysler Group said it will launch a recall to supplement a previous campaign staged to upgrade light-truck axles. The automaker explained the recall has implications for 361,819 vehicles sold in North America. Affected are 2009 Dodge Durango and Chrysler Aspen SUVs, 2009–2011 Dodge Dakota pickups and 2009–2012 Ram 1500 pickups. Chrysler indicated some rear axles […] [Read More]

Two senior leadership team changes were announced by Ford on Thursday, a move the company said is meant to further strengthen delivery of its One Ford plan for profitable growth. Elected as a Ford vice president and leader of the company’s new Global Dealer and Consumer Experience organization is Elena Ford, who since 2009 has […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE SMYRNA, Ga. — Doug Pitcher cringed at the thought of buy-here, pay-here dealership paper moving to another finance company and the outcome going badly. "It's everything," Pitcher — the director of sales at United Acceptance — said of making a smooth change to customers paying a finance […] [Read More]

SARASOTA, Fla. — Leedom Group is gearing up to debut its BHPH Gold Book, what it's describing as a national vehicle valuation guidebook designed to provide dealers and consumers with real-world retail values for vehicles typically associated with the buy-here, pay-here marketplace. The launch of the BHPH Gold Book is scheduled for April 9 during […] [Read More]

LIBERTYVILLE, Ill. — Coming off what was a record-setting year for the captive finance arm for Volkswagen and Audi, VW Credit celebrated the opening of a 30,000-square-foot expansion of its facility last week. Officials highlighted the $10 million expansion that was started last April will provide space for 150 additional jobs that VCI expects to […] [Read More]

ATLANTA — Sister publication Auto Remarketing learned Thursday that Mike Broe has been appointed to the position of president and chief executive officer of Auto Auction Services Corp. AASC indicated Broe will serve in an interim capacity and will work directly with AASC's board of directors to make decisions regarding the long-term leadership of the […] [Read More]