The National Highway Traffic Administration said BMW of North America is recalling 29,800 units to correct an issue with an engine belt idler. BMW is bringing in certain model year 2009 through 2012 X5 xDrive 35d SAV diesel vehicles manufactured from Sept. 1, 2008, to Nov. 15. NHTSA indicated the engine belt idler pulley bolt […] [Read More]

TrueCar partnered with AAA Carolinas Thursday not only to help vehicle buyers in North and South Carolina, but also to increase the site’s possible connection to 50 percent of the entire organization’s membership nationwide. The newest deal means TrueCar will be powering AAA Carolina’s online auto buying program with a more comprehensive service that provides […] [Read More]

HANOVER, Md. — The National Automotive Finance Association is looking to help leadership at small- to medium-sized auto finance companies navigate the changing regulatory landscape in light of the Consumer Financial Protection Bureau coming into play. The NAF Association is hosting a roundtable for chief executive officers, presidents and compliance executives of member finance companies […] [Read More]

SCHAUMBURG, Ill. — Fueled by its stranglehold on the top spot among used-vehicle lenders, Wells Fargo rose to be No. 1 in market share among all auto finance companies for the first time this year, according to Experian Automotive's Q3 State of the Automotive Finance Market Analysis. Wells Fargo surged past Ally Financial, grabbing 5.90 […] [Read More]

WASHINGTON, D.C. — With auto lenders, service providers and dealers being potential targets, the Department of Justice and the Consumer Financial Protection Bureau signed an agreement Thursday to strengthen coordination on fair lending enforcement and avoid duplication of their respective federal law enforcement efforts. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, officials […] [Read More]

DALLAS — The American Recovery Association is making an open call for speakers to be included in the fifth annual North American Repossessors Summit, which is set for April 26—27. ARA and the NARS 2013 planning committee are looking for speakers who can present their thoughts and experiences on topics relating to compliance, analytics and […] [Read More]

As November wrapped up for the certified pre-owned market in Canada, many OEMs enjoyed record CPO sales, and one nameplate reaped the rewards of a new dealer incentive. To help generate enthusiasm for its CPO program, Mazda Canada conducted a dealer incentive that produced a 15-percent month-over-month improvement, shared Bryan Leaitch, manager of certified pre-owned […] [Read More]

Though the storm has long dispersed, Hurricane Sandy is still making waves as wholesale prices continue to rise as a direct result of the recent superstorm. According to NADA Used Car Guide, the average wholesale vehicle price is expected to reach $14,025 over the course of the current week, which equates to a 1.1 percent, […] [Read More]

International AutoSource — a service provider that assists foreign expats who are moving to the United States lease or finance vehicles without a U.S. credit history — revealed a new partnership with Enterprise Fleet Management on Wednesday. Because of the relationship, International AutoSource now is able to assist foreign expats who are already located in […] [Read More]

GE Capital Fleet Services announced its 2012 GE Imagination @ Work Awards last week during the company’s strategic planning meetings in South Barrington, Ill. The company handed out 16 different honors, spotlighting auctions and industry leaders across the country. One of the highlights was the National Gold Award, which is awarded to the auction that […] [Read More]