Auto dealers in San Francisco have come together to form a new trade group, with the goal of using their economic powers for the good of their city. The new trade group, called the San Francisco Auto Jobs Alliance, aims to preserve the city’s automotive heritage, and promote job creation and economic growth, the group […] [Read More]

WASHINGTON, D.C. — Officials from the Consumer Financial Protection Bureau acknowledged the pace of consumer complaints they've received has been increasing throughout the year. However, the majority of those consumer issues do not appear to be associated with auto loans. CFPB director Richard Cordray told the U.S. Senate Committee on Banking, Housing, and Urban Affairs […] [Read More]

CARY, N.C. — One of the many highlights of the second-ever Re3 Conference not only is designed to recap how this year is playing out in the repossession, recovery and remarketing industries, but also to project how 2013 might unfold. Set to be a part of a session titled, "Remarkable Remarketing & Repossessions: The Industry's […] [Read More]

DALLAS — Comerica Bank's Auto Affordability Index showed the purchase and financing of an average-priced new vehicle took a little less of median family income during the second quarter. Analysts placed the Q2 level at 22.9 weeks as Comerica indicated that consumers on average spent roughly the same amount on new models in the second […] [Read More]

ONTARIO, Calif. — CU Direct Corp., provider of lending solutions to credit unions through its CUDL, Lending Insights, Lending 360, CUDL Retail and Vero brands, added a new associate director and director to its board of directors. Appointed as a director on the board was Nader Moghaddam, president and chief executive officer of Financial Partners […] [Read More]

Canadian new-vehicle sales climbed more than 6 percent in August and are up close to 7 percent on the year, leading analyst Dennis DesRosiers to call the month, “Great but not spectacular,” in his recent look at the market. Overall, there were 149,301 new units sold in Canada last month, according to data in the […] [Read More]

Thanks to a strong inventory situation and solid engagement from its dealer body, Volkswagen Canada celebrated a record in the certified pre-owned market last month. The company sold 1,342 CPO units in Canada, which was its strongest August on record and more than a 24-percent upswing from August 2011. Luigi Fiorino, manager of used-vehicle sales […] [Read More]

Luxury automakers Mercedes-Benz and Porsche are each celebrating new locations meant to serve Canadian customers. Mercedes-Benz officials gathered to break ground late last week on construction of Langley Mercedes-Benz, a $9.5 million retail facility in the Fraser Valley. The British Columbia dealership will be located on a 3.8-acre site at the corner of Glover Road […] [Read More]

Auto Remarketing’s 2012 CPO Dealer of the Year presented by NCM Associates was officially announced this morning, and receiving this year’s honors is Longo Toyota. The El Monte, Calif., dealership is the third dealership to receive this award. Paragon Honda/Acura was named the inaugural CPO Dealer of the Year in 2010, and Karl Chevrolet claimed […] [Read More]

Much like the story told through July’s scarcity data, the AutoTrader.com analysis of last month's supply trends found that once again, full-size trucks continue to remain scarce. [Read More]