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]

Not only was the third quarter the strongest quarter ever for the certified pre-owned market, the period’s final month saw two brands notching all-time sales records. According to Autodata Corp., both Mazda and Porsche achieved their respective strongest months ever for certified sales, September or otherwise, as Mazda moved 2,811 units and Porsche sold 871 […] [Read More]

Due to higher-than-expected registration numbers for the Used Car Week conferences, and projected record-breaking attendance, The Phoenician resort has sold out of rooms for the entire week of the conferences. However, conference organizers have established an alternate hotel option nearby for those who still need to make room reservations, and have negotiated an even lower […] [Read More]