WASHINGTON, D.C. — Auto lending has proven to be solid throughout much of the country over the past six weeks, according to the latest Beige Book report from the Federal Reserve, which indicated a modest increase for overall lending (auto or otherwise) since late August. Reports from several of the 12 Federal Reserve Districts pointed […] [Read More]

FORT WORTH, Texas — This week, Loan Portfolio Servicing — sister company of the newly rebranded Caprock Auto Remarketing — started its full-scale launch as a national third-party servicer of subprime automotive loans. LPS president Scott France highlighted the company specializes in helping start-up finance companies and those with small- to mid-sized portfolios. "When the […] [Read More]

HAUPPAUGE, N.Y. — Management from cuautocoupon — a program geared to help drive more business to credit unions and dealerships — recently announced the signing of six credit unions to its growing California network. The largest of the new additions is Kinecta Federal Credit Union, an operation based in Manhattan Beach, Calif., with a $3.25 […] [Read More]

BIRMINGHAM, Ala. — Regions Bank has partnered with TrueCar Inc. in an effort to make vehicle shopping easier for its users. Regions Bank customers and non-customers can now research, shop for, finance and insure a new or used vehicle through the Regions Auto Center housed on the company's website at regionsautocenter.com, the company explained. The […] [Read More]

The Used Car Dealers Association of Ontario announced earlier this week that longtime executive director Bob Beattie has died. Beattie helped found the organization nearly three decades ago and was credited for being a major catalyst toward is growth over the past 28 years. “Bob was a respected and influential figure in Ontario’s motor vehicle […] [Read More]

Bryan Leaitch, the manager of certified pre-owned at Mazda Canada, has spotted one particular trend in company’s relatively new program that has helped spur dealer engagement. “We have noticed that the gross profit per unit for our CPO units versus non-CPO units has increased steadily since our program launch, which has resulted in increased active […] [Read More]

DealerTrack announced this week that DealerTrack Canada will acquire the assets of Ford of Canada’s iCONNECT Direct DMS business.  As part of the agreement, officials highlighted that DealerTrack will assume control and own the administrative, sales and support operations of Ford's iCONNECT Direct DMS in the Canadian provinces.  They noted Ford of Canada will continue […] [Read More]

Wholesale prices are continuing down, with all but one segment expected to fall, according to NADA Used Car Guide. The lone vehicle category where prices are expected to rise this week and buck the trend is the midsize utility segment, which is projected to see a slight uptick to the tune of 0.2 percent or […] [Read More]

While the San Francisco region has experienced a “robust” used-car environment recently, the other two Federal Reserve Districts reporting used-vehicle trends in the latest Beige Book analysis fared differently. In the latest reporting period, dealers in the New York and Cleveland districts have seen “flat” used-vehicle sales, according to the Federal Reserve. [Read More]

Dealer associations and other industry entities reinforced their positions on the issue Wednesday as the National Highway Traffic Safety Administration revealed a consumer safety advisory to alert vehicle owners and repair professionals to the dangers of counterfeit air bags. NHTSA said it has become aware of a problem involving the sale of counterfeit air bags […] [Read More]