Widely predicted in numerous reports, Ally Financial reiterated the strength of its auto finance business when announcing that mortgage subsidiary, Residential Capital, decided to file for Chapter 11 bankruptcy. Officials emphasized the decision has no impact on Ally’s U.S. auto finance arm nor its direct banking businesses. Ally said it believes these key strategic actions […] [Read More]

Despite earning their lowest scores in more than a decade, Toyota and Honda held onto the lead spots in the 12th annual North American Automotive OEM-Tier 1 Supplier Working Relations Index Study. Meanwhile, Chrysler and General Motors saw continued improvement resulting in best-ever scores this year, and Ford fell slightly but remained in third place […] [Read More]

As auto loan defaults piled up stemming from the recession that began back in 2008, recovery operations managers at lenders large and small had to tighten up procedures and more in order to handle the added volume. Now four years later, the amount of delinquencies might have slackened, but by and large recovery industry executives […] [Read More]

Dealer consignment volume in the auction lanes increased more than 8 percent during the first quarter, and while consignment from fleet/lease and OEM channels was still down, their declines have mellowed from the full-year downturns in 2011. These were just some of the findings in the recently released first-quarter Auction Industry Report from the National […] [Read More]

Specifically geared for auto lenders, Digital Recognition Network is hosting a free Webinar the company is titling, “Data That Puts Your Company in the Driver’s Seat.” Orchestrated by DRN chief executive officer Chris Metaxas, the online event is scheduled for 2 p.m. on May. 23. DRN reiterated that it specializes in delivering vehicle location data […] [Read More]

With gas prices softening a bit throughout the country, Kelley Blue Book advised dealers to check their used inventories for five specific fuel-efficient models that could be in line for a significant price correction. That group included the 2010 Toyota Prius, 2011 Toyota Yaris, 2011 Chevrolet Cruze, 2011 Toyota Corolla and 2011 Kia Soul. “Although […] [Read More]

J.D. Power and Associates discovered little changed on the new-vehicle leasing front in April when comparing month-over-month and year-over-year. Senior director Thomas King indicated the fact that leasing stayed flat was consistent with recent levels “and in line with our expectations. “Although there was some movement, the changes were modest, and we consider them within […] [Read More]

Revealed late last week, Audi of America will be forming a new educational partnership with the National Automobile Dealers Association. NADA, the OEM and its U.S. network of 278 dealers will be “working together to improve dealership operations and, ultimately, customer service,” officials noted. What does this new collaboration entail? Audi is “the first automaker […] [Read More]

We talk a lot about the power of the Internet — and how it ties in strongly with consumer car-shopping behavior. But what about after a consumer drives off your lot — either with one of your cars or without one? These days, many of them are going home, posting reviews on sites like Yelp, […] [Read More]

About two months after federal officials ordered five stores to halt certain advertisements, a family-owned franchised dealership in business for more than four decades agreed to pay $225,000 in restitution, civil penalties and attorney fees to resolve allegations that it utilized “deceptive marketing tactics.” Massachusetts Attorney General Martha Coakley announced the consent judgment against McGee […] [Read More]