Fueled by its stranglehold on the top spot among used-vehicle lenders, Wells Fargo rose to be No. 1 in market share among all auto finance companies for the first time this year, according to Experian Automotive's Q3 State of the Automotive Finance Market Analysis. Wells Fargo surged past Ally Financial, grabbing 5.90 percent of the […] [Read More]

About a year ago, I introduced the idea of “provisioning” inventory as a replacement for the long-held practice of dealers “stocking cars” to feed their used-vehicle operations. The basic concept is that “stocking cars” doesn’t sufficiently capture the more holistic nature and needs of retailing used vehicles to achieve maximum return on investment and profitability […] [Read More]

National Auto Auction Association president Paul Lips will head a webinar panel discussion today examining arbitration policy changes adopted by the NAAA Board of Directors this year. The webinar, titled Arbitration Policy: A Year in Review, is scheduled for today at 2 p.m. EST, and is free to NAAA members.   Lips also serves as […] [Read More]

While possibly not as immediately severe as a defect officials said might cause an engine fire, a National Highway Traffic Safety Administration alert said Ford is recalling the 2013 Fusion for the second time in less than a month. The newest recall was triggered by affected vehicles that may not have had the low beam […] [Read More]

WEST BRIDGEWATER, Mass., and NEW YORK — More commentary from auto loan executives and industry analysts is combining "fiscal cliff" and "recession" into the same breath since time is dwindling for federal lawmakers to resolve tax and spending plan differences. The president of a Massachusetts-based auto loan operation said if the U.S. in fact does […] [Read More]

CARMEL, Ind. — Last week, J.D. Byrider added three formerly franchised locations to its portfolio of company-owned buy-here, pay-here dealerships.  Officials explained J.D. Byrider acquired the locations as part of a push to grow company-owned and managed locations, which the company uses to pilot new initiatives and spur innovation. The company said Chris Hadley, the […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute said total bankruptcy filings in the U.S. for November decreased 12 percent compared to the previous year, according to data provided by Epiq Systems. Officials tallied that November bankruptcy filings totaled 86,946, down from the 98,534 filings registered in November of last year. Total commercial filings for November […] [Read More]

WOODBURY, N.Y. — International AutoSource — a service provider that assists foreign expats who are moving to the United States lease or finance vehicles without a U.S. credit history — revealed a new partnership with Enterprise Fleet Management last week. Because of the relationship, International AutoSource now is able to assist foreign expats who are […] [Read More]

It was another record month for the certified pre-owned business, which appears to be headed toward heights never reached before, according to Autodata Corp. Last month was the strongest November ever, with certified sales totaling 147,860 units, the firm said. This continues a string of records in the CPO market, including the best October ever […] [Read More]

For the second quarter in a row, Mercedes-Benz Financial posted a year-over-year new-vehicle leasing market share gain of more than 80 percent. According to Experian Automotive’s Q3 State of the Automotive Finance Market Analysis, the German luxury brand’s slice of the leasing market came in at 6.0 percent, an 87.86-percent improvement above the captive’s share […] [Read More]