NEW YORK — Ally Financial's North American Automotive Finance, which includes operations for the U.S. and Canada, watched both its pre-tax income and loan originations soften during the third quarter. The company reported this morning that its third-quarter pre-tax income settled at $510 million, down from $551 million in the corresponding prior-year period. "This decrease […] [Read More]

BANDON, Ore. — As damage tallies stemming from Superstorm Sandy continue to climb, CNW Research determined the storm cost the used-vehicle industry nearly a quarter-million used sales in October. Or, put another way, $2 billion in "probable value." Nonetheless, CNW said Thursday that October sales were still up year-over-year by 4.6 percent. The firm tabulated […] [Read More]

NORTH RICHLAND HILLS, Texas and SANTA MONICA, Calif. — OpenRoad Lending, an online direct-to-consumer auto finance company, recently partnered with TrueCar for an alliance aimed at creating a better experience for consumers and dealers. With the new program on OpenRoad Lending, customers can receive guaranteed savings on a new vehicle, in addition to financing a […] [Read More]

CENTENNIAL, Colo. — CU Direct Connect announced this week that it has signed an agreement with AutoNation that names CU Direct Connect as a preferred lender for all of the dealer group's stores in Colorado. The agreement was effective as of Thursday. Officials said that CU Direct Connect, through its 34 member credit unions, is […] [Read More]

WALKAWAY has filled its newly created position of manager of dealer services. In a move that became effective today, earning the promotion to the role was Dana Senin. The company — which builds, markets and administers credit protection products for the retail auto business as well as the recreational vehicle industry — also announced that […] [Read More]

Ford revealed a series of changes within its leadership team, today while also announcing that its chief executive will be staying with the Blue Oval through at least 2014. Alan Mulally will continue leading the long-term strategic development of the One Ford plan and its continuous improvement, the company shared. At the same time, Mark […] [Read More]

Nissan Canada president Allen Childs is retiring on Jan. 1 after two decades with the automaker, Nissan announced Wednesday. Moving into the leadership position at Nissan Canada will be Christian Meunier, who is currently the president of Nissan Brazil. That move will also be effective Jan. 1. Childs has been president of Nissan Canada since […] [Read More]

The recent acquisition of Ally Credit Canada by Royal Bank of Canada triggered a question during a quarterly conference call Wednesday: Why didn’t General Motors Financial make a run at the financing arm since it already has lending and leasing activity in the country? GM Financial president and chief executive officer Dan Berce addressed the […] [Read More]

After releasing a report highlighting the used-vehicle price forecast for the end of this year and spring of 2013 on Wednesday, NADA Used Car Guide looked at more immediate trends in the market. It said that wholesale prices for all the segments it tracks are expected to decrease this week, except for one highline segment. […] [Read More]

Used cars have gotten more expensive. At least, that is one fact consumers and dealers have come to expect during the past few years. But, after three years of “dramatic growth”, the price hike slowed a bit this year, according to NADA Used Car Guide. In fact, the projected average price of used cars and […] [Read More]