To meet popular demand from its members, the National Independent Automobile Dealers Association is forming a 20 Group Program, the association announced last week. Like many of its peer programs, the NIADA 20 Group Program will aim to bring together dealers (in this case, independent stores) for idea and best-practice sharing, as well as data […] [Read More]

The National Highway Traffic Safety Administration indicated Subaru is recalling the Forester from the 2009 through 2012 model years. A total of 275,000 are being summoned to franchised dealerships because the automatic locking retractor in the seat belt assemblies located in the rear-center seating area do not meet lockability requirements. NHTSA said the problem means […] [Read More]

Though Hyundai maintained its perch as the top OEM in TrueCar’s latest Performance Scorecard rankings, a pair of Big 3 automakers have made some significant inroads. Ford and General Motors topped the list of improvers from January to February, as GM boosted its grade from a B- to an A, while Ford pushed its C […] [Read More]

Dealership Group Larry H. Miller Automotive revealed last week a couple of management changes, first promoting company veteran Dean Fitzpatrick to president and chief operating officer of LHM Auto. This change is effective immediately. “Dean has filled various management positions within the LHM Group for the past 24 years. He has an in-depth understanding of […] [Read More]

Given his first pair of shoes as a 9-year-old in Nigeria and taught how to play basketball by missionaries, Manny Ohonme turned a dream into reality, following his inspiration all the way to a college basketball career in the U.S. Paying it forward, Ohonme founded a global humanitarian organization giving underprivileged children shoes and a […] [Read More]

NEW YORK — Along with an upbeat forecast for this year, the latest report by Fitch Ratings showed U.S. auto loan/lease credit performance continued positive momentum during the fourth quarter. Analysts determined that strong used-vehicle prices and positive U.S. economic trends offset typical second-half seasonal trends. The report released late last week also indicated Fitch's […] [Read More]

WASHINGTON, D.C. — According to a weekend report from The Washington Post, auto loan growth in on the rise, especially in the Capitol. The WP reported that low interest rates contributed to the uptick in top auto lender’s portfolios in the Washington area. Per the WP report, the top 25 auto lenders grew their portfolios […] [Read More]

WESTLAKE VILLAGE, Calif. — Though down more than 3 percentage points from an "exceptionally high" year-ago period, lease penetration rates remained steady in the near-20-percent range during February, thanks to relative stability in lease return volume and consistent incentives, according to J.D. Power and Associates. And while the fallout from the 2008 leasing drought influenced […] [Read More]

DENVER — Access Capital is changing the name of its auto finance company as part of a company-wide rebranding effort. CAPEX Acquisitions will now be known as AC AUTOPAY, which represents an expanded line of products and a new website to “serve dealer and consumer partners,” the company explained. “AC AUTOPAY will build on its […] [Read More]

At the NAAA/CAR conference this week in Las Vegas, fleet solutions company Emkay revealed a list of its 2011 auction award winners. “All of the auctions listed achieved or exceeded 100 percent on our grading scale,” company officials noted. And taking home the top honors as Auction of the Year is ADESA Dallas. This is […] [Read More]