As the year draws to a close, ServNet president R. Charles Nichols took the time to reflect on the company’s performance and achievements for 2012, saying “we have much to be proud of.” Nichols began by sharing that ServNet’s market share is on the rise, showing growth of 11 percent over the past 12 months. [Read More]

Edmunds.com will open its “hack” event to those outside the company for the first time this winter, offering the chance to solve real-world auto industry issues and win up to $10,000 in cash.   “Hack-O-Motive” is a two-day event that aims to re-invent the car shopping experience by bringing together consumers, dealers, manufacturers, designers and technologists […] [Read More]

CHICAGO — TransUnion projected the ratio of auto loan borrowers 60 or more days past due will remain near record-low levels throughout next year as the amount of vehicle debt per consumer will continue its uptrend in 2013. Analysts predicted the average amount of auto financing will jump the expected fourth-quarter amount of $13,689 to […] [Read More]

IRVING, Texas — The subprime auto finance market certainly changed in the past 12 months. A host of factors such as pent-up demand and significant capital injections created a situation of companies reentering the subprime sector after shying away from it during the recession as well as new operations looking to grab some market share. […] [Read More]

LOS ANGELES — Westlake Financial Services announced a major update to the DealerCenter website, which is operated by Nowcom Corp., Westlake's sister company under the Hankey Investment Group umbrella. DealerCenter is the business portal that houses Westlake's proprietary Buy Program software as part of a full-fledged online DMS solution. "When you are the No. 1 […] [Read More]

MASON, Ohio — TriStar will be launching a new vehicle service contract on Jan. 3 focused on customers who serve in a branch of the U.S. military. Officials explained TriStar Freedom Guard is designed to help service members keep their vehicle running smoothly. Should there be a covered failure, Freedom Guard can provide additional assistance […] [Read More]

For Courtney Cole, sixth-generation dealer and co-owner of Hare Chevrolet in Noblesville, Ind., the strength in her dealership comes from the “ability to differentiate” itself from the competition. This dealer says it’s all about standing out. Cole owns the family business with her sister Monica Peck. Cole heads up the sales department, while Peck runs […] [Read More]

A dealer has more to consider these days than a simple website when designing a digital marketing plan. And the ways to snag a potential buyer over the Internet are growing. According to a recent survey of online vehicle shoppers commissioned by Chrome Data, consumers are increasing their use of mobile devices and social media […] [Read More]

Third-quarter delinquencies and repossession rates moved in directions Experian Automotive didn’t expect. They all moved lower year-over-year. According to Experian Automotive’s Q3 State of the Automotive Finance Market Analysis, 30-day delinquencies fell to 2.67 percent from 2.78 percent in the year-ago quarter. The development marked the second consecutive year that third quarter 30-day delinquencies stayed […] [Read More]

In an action that represents the single highest civil penalty amount ever paid to the National Highway Traffic Safety Administration for violations stemming from a recall, this morning Toyota agreed to pay $17.35 million to settle claims related to the timeliness of a recall made back in June. That campaign was to address the potential […] [Read More]