On Tuesday, the National Automobile Dealers Association reported on the election results for its 2013 chairman and vice chairman positions. NADA has chosen David Westcott of North Carolina as its newest chairman, and Forrest McConnell III as vice chairman for 2013. The election  took place at a meeting of NADA’s board of directors in Chicago. […] [Read More]

Officials from the National Highway Traffic Safety Administration said Ford is recalling certain model-year 2011–2013 Fiesta vehicles for an air-bag issue. NHTSA indicated the passenger side curtain air bag on 154,604 units will not deploy in the event of a side impact collision when the front passenger seat is empty. Although the side curtain air […] [Read More]

People are talking via social media, there’s no doubt about that. For dealers and OEMs, managing that chat — along with customer review postings — is critical to business, and a new tool can help.  Social media management firm SOCIALDEALER this week announced the addition of new features to its reputation management products that the […] [Read More]

For the fourth straight month, Subaru leads the pack with an A-plus in both manufacturer and brand rankings in TrueCar.com’s Performance Scorecard program. In the manufacturer grading in the September rankings that were released this week, tying for second place were Toyota and BMW, both of which earned an A for the month. Jaguar Land […] [Read More]

NEW YORK — The upward bounce from the reading's historic low continued in September as the S&P/Experian Consumer Credit Default Indices showed auto loan defaults climbed for the second month in a row. Analsyts from S&P Dow Jones Indices and Experian determined the auto loan default rate increased to 1.11 percent in September. In August, […] [Read More]

MARBLEHEAD, Mass. — FinCo Management, a provider of deep subprime dealer financing, is expanding its Financing Alternatives and Servicing Today program into 31 states, covering nearly 75 percent of the U.S. population. The company said the program should be operating in those 31 states by mid-November. By partnering with FinCo, dealers can offer deep subprime […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack announced today the company has been selected as the recommended DMS provider for Dealers United, a national purchasing network for privately owned dealers. As part of the agreement, officials said Dealers United will market DealerTrack DMS as the recommended DMS solution to its entire network of nearly 5,000 franchised and […] [Read More]

HAUPPAUGE, N.Y. — CU Xpress Lease said its September activity reached a one-year high showing growth of 64.88 percent in lease volume year-over-year and 36 percent year to date. Officials said the vehicle leasing program available to current credit union members or individuals eligible for credit union leasing originated $20 million in leasing in September.  […] [Read More]

Joe Balbi, owner-operator of two Pennsylvania Thrifty Car Sales franchises, says the key to success is all about having the right team and knowing your customers. “It is our team, ownership and our franchise that makes us successful. Anybody can open a Joe's used-car lot, but with Thrifty Car Sales there is branding and accountability, […] [Read More]

What will the remarketing of repossessions be like next year? How did the process of moving these units through the wholesale market unfold this year? Those questions and more will be discussed during the Re3 Conference, which focuses on repossession, recovery and remarketing. In a conference session titled, “Remarkable Remarketing & Repossessions,” some of the […] [Read More]