As noted in its mid-year Auction Industry Report, the National Auto Auction Association is anticipating a “noticeable overall gain” in auction volume next year, given the projected turnaround for fleet/lease and manufacturer/factory numbers. Such an increase would likely not only help auctions, but also aid dealers in finding more inventory for their used-car lots. However, […] [Read More]

Organizers of Used Car Week have announced that the $200 early registration discount for the week-long series of conferences has been extended through the end of the day on Wednesday. The previous deadline for the early-bird rate at Used Car Week — which consists of three conferences and is set for Nov. 12–16 at The […] [Read More]

The American Bankers Association cautioned that cybercriminals are increasingly targeting small businesses such as dealerships, to transfer funds from accounts and steal private information, a fraud referred to as "corporate account takeover." The association contends that criminals can use spoofed emails, malicious software and online social networks to obtain login credentials to businesses' accounts, which […] [Read More]

A used-vehicle manager at a Midwest Honda dealership shared the following message in an email with vAuto consultant Tommy Gibbs and asked for help to address a problem with reconditioning. The manager wrote, “It kills me that all other facets of our business have evolved, especially with the integration of vAuto into our used-car operations. […] [Read More]

Offering dealers a better understanding of consumers’ paths to auto purchase is the goal of a new automotive channel attribution reporting suite released late last week by Dataium. By taking advantage of its Dataium Cloud Intelligence platform, a system which collects behavior on more than 20 million auto shoppers each month, the company said it […] [Read More]

Marketing automation platform for dealers OneCommand revealed late last week that a series of enhancements to the company's offerings comes along with a new corporate identity. The company announced the rollout of a redesigned website, corporate logo and the introduction of new products and services. [Read More]

NEW YORK and SAN FRANCISCO — Both Chase and Wells Fargo enjoyed positive developments in connection with their third-quarter auto loan origination volume performances. Starting with Chase, the company indicated its Q3 originations totaled $6.3 billion, a figure 7 percent higher year-over-year and 9 percent higher quarter-over-quarter. The growth left Chase's average auto loan amount […] [Read More]

SEATTLE — Positioned as a tool dealers can embed into their websites, officials from CLCalc.com recently launched a versatile tool with five different calculators aimed at making vehicle loan amounts more understandable. The site contends its tool can help dealers show potential buyers understand the true cost of a purchase after taxes, interest and depreciation […] [Read More]

DETROIT — Ally Financial's board of directors recently declared quarterly dividend payments for certain outstanding preferred stock, continuing a stream heading to the U.S. Department of the Treasury.  Officials indicated these dividends are payable on Nov. 15. The company explained a quarterly dividend payment was declared on Ally's Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, […] [Read More]

REDWOOD CITY, Calif. — The most recent RDN Monthly Analytics Update showed August recovery volumes increased 3 percentage points from July levels. However, the reading also ended up 17 points below year-ago levels. RDN indicated August recovery orders rose 4 percentage points from the previous month, but dropped 10 percentage points year-over-year. The RDN Recovery […] [Read More]