IRVINE, Calif. — With a significant year-over-year turnaround in fourth-quarter net income and rises in both contracts purchased from dealers and net receivables, Consumer Portfolio Services declared that its fourth quarter "marks our return to profitability." In fact, the company's 2011 net loss was less than half of what CPS sustained in 2010. CPS revealed […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute spotted a 19-percent month-over-month rise in total filings in the United States. According to data provided by Epiq Systems, all bankruptcy filings in February totaled 104,418, up from the 87,981 filings in January. Officials also noticed filings per day rose 27 percent to 3,601 from 2,838 in January. […] [Read More]

DETROIT — To help support dealers and get more attention for General Motors and Chrysler vehicles, Ally announced it is launching a marketing program in March to drive both showroom traffic and new vehicle sales. The program will launch in a few test markets to start, including Ft. Meyers, Washington, D.C., Houston and Detroit. So […] [Read More]

The NAFA Fleet Management Association recently surveyed its membership on how they view the role of fleet in their organization. The survey discovered a problem that the association calls relatively common, “a lack of respect in the business world.” "NAFA is proud to announce our Beyond Fleet campaign, an exciting new program designed to elevate […] [Read More]

This week, the Association of Global Automakers launched a new website highlighting its members’ efforts to meet increased fuel economy and greenhouse gas (GHG) emissions standards. The organization that represents vehicle manufacturers, original equipment suppliers and other automotive-related trade associations explained this new site is aimed at policymakers to educate them about the necessity of […] [Read More]

With wholesale vehicle prices continuing to be strong and financial institutions ramping up recovery efforts to leverage this condition, Phil Hanks believes he and the rest of the team at Primeritus Financial Services are “catching the industry at the right time.” Hanks elaborated about the plans he and wholesale veterans Cam Hitchcock and Chuck Tapp […] [Read More]

The education and training arm of the National Automobile Dealers Association revealed today it is now offering all of its legal and regulatory webinars at no cost to NADA and American Truck Dealer members and their staffs. This is now an added membership benefit, officials noted. Officials also noted that dealer members may offer this […] [Read More]

LoJack Corp. released its third annual vehicle theft recovery report today, highlighting results from its 2011 recoveries. Officials tabulated that their system helped U.S. law enforcement recover 10,261 stolen vehicles as Hondas topped the list of imports recovered with the Accord ranking as LoJack’s most stolen and recovered vehicle.  The company indicated the Cadillac Escalade […] [Read More]

After stepping down from his post as automotive department chairman at Northwood University last month, Joe Lescota has secured a new role with the National Independent Automobile Dealers Association. NIADA announced Monday that Lescota has been appointed to be the association’s director of dealer development. His new position with NIADA starts June 1, following the […] [Read More]

What is being hailed as a move to “harmonize the recovery industry,” MVTRAC recently reached an amicable transaction with Digital Recognition Network and Vigilant Video involving a license of MVTRAC’s license-plate recognition technology historical tracking patent. Officials declared the undisclosed terms of the transaction conclude all litigation between the parties. “We are pleased to announce […] [Read More]