LOS ANGELES — This week, Westlake Financial Services established a new $30 million credit facility with MG Leasing Corp., a Japanese leasing company. Officials said the credit facility collateralizes Westlake's auto finance receivables. Westlake chief operating officer Paul Kerwin noted MGL is the first Japanese finance company to partner with Westlake. "We appreciate MGL's very […] [Read More]

BINGHAM FARMS, Mich. — Vincentric, a provider of automotive cost of ownership data in the U.S. and Canada, recently added an automotive lending decision support tool to its current product line. The company explained its system — Vincentric Dynamic Cost to Own — can now be used to support auto lending by providing unique insights […] [Read More]

For a special section feature, Auto Remarketing recently reached out to five of the industry's leading advertising and marketing experts to get their advice for dealers when it comes to advertising in 2013. In the story — which appears in the Dec. 1–14 print edition of Auto Remarketing — they touched on everything from mobile […] [Read More]

Superstorm Sandy took a chunk out of the market’s used-car supply, and it appears the impact to transaction prices at dealerships has already begun to play out. CNW Research indicated in its latest Retail Automotive Summary that the average used-car transaction price at a franchised dealer this month is $10,894. This is up from $10,553 […] [Read More]

Even as overall shopper intensity dropped for October, and despite two major recalls for the brand within recent months, Toyota’s shopper intensity remained at an all-time high in the latest report by Dataium.    Dataium this week released its monthly Automotive Shopper Intensity report, which illustrates a reversed course in the ASI index for the […] [Read More]

CNW Research defines an “emotional buyer” as one who buys a used vehicle to fulfill his or her dream of owning that specific model. And according to this month’s Retail Automotive Summary from CNW, this kind of buyer is coming back to the dealership. So, what's behind the resurgence? It appears economic improvement has played […] [Read More]

As part of a branding initiative announced today, vAuto’s used-vehicle inventory management product suite has a new name, and the company has also rolled out a new product line of stand-alone solutions designed to help dealers tackle specific used-car tasks. [Read More]

CNW Research said Superstorm Sandy pulled about 250,000 used sales out of the market in October, but many of those buyers have come “roaring” back this month. Analysts project this month’s used sales figure to come in at 3.04 million, which would represent a 17.6-percent jump from November of last year. The prediction is coming […] [Read More]

It seems dealers, buyers, and auction owners alikemight be seeing higher values and volumes in the lanes as 2013 gets under way. This week, National Auto Auction Association president-elect Jack Neshe and NAAA president Paul Lips joined Black Book’s Ricky Beggs during his “Beggs on the Used Car Market” video report. After years of low […] [Read More]

Still-strong wholesale vehicle values resulted in yet another decline for U.S. auto ABS losses, according to the latest index results from Fitch Ratings. Analysts said October auto ABS losses also remained stable as the new model season kicked into gear for vehicle sales. Fitch pointed out the Manheim Used Value Index gained 1 percent, increasing […] [Read More]