There is great and very understandable angst among dealers over automaker programs that require expensive dealership renovations, especially when they appear arbitrary and do nothing to sell more cars or satisfy customers. The National Automobile Dealers Association helped elevate the current national debate over manufacturer-mandated facility upgrades by commissioning the first-ever facility study. [Read More]

Ending its month-long Xtreme Spring Sale Event with a bang, Manheim Pennsylvania held the 100 Grander, Ultra Highline and Classic Car sale this past week, with the proceeds benefitting the Wounded Warrior Project — an organization providing aid to injured servicemen and women. Nearly 4,000 dealers attended the sale which featured the auction of a […] [Read More]

SOUTHFIELD, Mich. — Credit Acceptance Corp. recently completed $201.3 million asset-backed non-recourse secured financing. Pursuant to this transaction, the company calculated that its contributed loans having a net book value of approximately $251.7 million to a wholly-owned special purpose entity that will transfer the loans to a trust. Credit Acceptance highlighted how the trust will […] [Read More]

DALLAS — With an economic rebound still tenuous, recovery efforts by finance companies, credit unions and buy-here, pay-here dealers remain a critical part of doing business nowadays. As the industry ventures deeper in 2012, SubPrime Auto Finance News reached out to several recovery executives to gather their thoughts on how recoveries are evolving. To set the […] [Read More]

FARMINGTON HILLS, Mich. — Mercedes-Benz Financial Services revealed this week its employees will now have the opportunity to participate in a program facilitated by the Detroit Institute of Arts, which focuses on the sharing of art and culture. Through the program, the company noted “they (employees) are exposed to the artistic masters from different continents […] [Read More]

WASHINGTON, D.C. — The Federal Trade Commission filed charges and requested that a U.S. district court put a stop to the allegedly deceptive tactics of two California-based auto loan modification operations. In a release revealed today, the FTC asserted that the two separate operations charged hundreds of dollars in up-front fees, based on "bogus" promises […] [Read More]

NADAguides.com announced its Featured Vehicle of the Month on Tuesday, giving this month’s honors to the 2012 Infiniti FX50. The site praised the Japanese luxury model for its vast comfort, technology and aesthetic options, while also touching on its “very competitive” performance attributes and price. NADAguides also gave kudos for the redesigned exterior. The FX50, […] [Read More]

If consumers aren’t using their income tax refund to make a vehicle purchase, an eBay Motors survey showed that cash might still result in dealership revenue. The eBay Motors survey indicated more than one-third of vehicle owners will spend a portion of their tax refunds on something related to a car, truck or motorcycle, and […] [Read More]

Nearly 30 years after we began building the Honda Accord in America, the news that Honda will build the fuel-efficient Honda Fit in our new plant in Mexico is an important addition to the existing portfolio of passenger cars and light trucks we already produce in North America. [Read More]

In an effort to deal with an issue brought to the forefront recently with the organization of the Consumer Financial Protection Bureau, DealerTrack revealed today a program that aims to help dealers “more effectively demonstrate their compliance with state and federal regulations.” Audit Protect is now included in the company’s sales and F&I compliance solution. [Read More]