Investment research firm DBRS expects that lenders will begin to loosen credit standards to achieve growth strategies as the auto finance market continues to improve, competition increases and credit availability resumes. As a result, the firm contends these developments will likely put negative pressure on collateral performance, increasing pool delinquencies and losses. “Furthermore, the weaker, […] [Read More]

Along with updating members about insurance booklet legislation developing on Capitol Hill, the National Automobile Dealers Association announced the new mobile app for the 2013 NADA Convention and Expo is now available for download. Officials said the app can help attendees maximize their convention experience with features that include: —Up-to-the-minute updates on workshop sessions and […] [Read More]

With some of the Reynolds Consulting team members earning official designation as eBay eDealer Certified Consultants, the company is now offering a new program aimed at helping dealers maximize their listings on eBay Motors. This will feature in-dealership training as well as coaching from Reynolds consultants on using the eBay Operations Blueprint. [Read More]

ADESA Phoenix is gearing up for its Third Annual Legendary Sales Week. As part of its alliance with the Barret-Jackson Auction Co., the ADESA auction will hold the event Tuesday through Thursday —  which coincides with  the 42st Annual Barrett-Jackson Collector Car Auction, which runs through Sunday. "It is truly a pleasure to partner with […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE SAN FRANCISCO — Wells Fargo — the auto lending market leader according to the latest data generated by Experian Automotive — watched its originations soften as the year closed, but they still improved compared to the last quarter of 2011. Reflecting what they described as seasonality and […] [Read More]

ST. LOUIS — Enterprise Car Sales, which specializes in working with credit unions of all sizes to increase auto loan volume, said it generated a total of more than $380 million in loan volume for credit unions through used-vehicle sales to more than 23,000 credit union members during 2012. Officials indicated the loan volume generated […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE McLEAN, Va. — The National Automobile Dealers Association reminded members about a particular tax form that must be filed before the end of the month. NADA explained that dealers who receive more than $10,000 in cash in a single transaction or related transactions must complete Form 8300 […] [Read More]

STAMFORD, Conn. — GE Capital Retail Bank and KTM North America, a powersports unit manufacturer, recently announced a multi-year extension of their consumer financing program. GE Capital Retail Bank provides financial solutions to retailers and dealers to help grow their customer sales and will continue to provide financing programs to KTM customers as it has […] [Read More]

Manheim chief economist Tom Webb didn't mince words in refuting any inkling that the auction industry is in trouble since even a moderate rise in projected volume for 2013 is close to 25 percent off of the heydays of 10 years ago. Working off an assumption that volume at National Auto Auction Association facilities will […] [Read More]

Saab Automobile Parts North America announced a new program Thursday that may give owners of 2010 and 2011 model-year Saab vehicles some added peace of mind in the wake of Saab Automobile AB’s bankruptcy in Sweden. Through Saab Secure, owners of these vehicles will be offered a Limited Lifetime Protection Plan on internal engine components […] [Read More]