O’Brien Auto Group, one of the largest dealers in the Pacific Northwest, announced late last week it purchased Bob Bridge Toyota Scion of Renton — a nine-time winner of Toyota Motor Sales USA’s President Award for outstanding sales and service in the Seattle market. While financial details were not made public, O’Brien confirmed the deal […] [Read More]

RICHMOND, Va. — Buy-here, pay-here dealership group J.D. Byrider recently revealed credit-challenged residents of Virginia’s capital now have another option for purchasing used cars. The company announced a new Richmond rooftop opened on the first of the month, located at 7400 Midlothian Turnpike. The 10,000 square-foot store — the company’s fifth in Virginia — offers […] [Read More]

IRVING, Texas — Late last week, Exeter Finance Corp. announced the completion of its first rated term securitization, issuing $200 million in notes backed by subprime auto installment receivables. The company indicated the notes were purchased by qualified institutional buyers and accredited investors in a private placement offering pursuant to Rule 144A of the Securities […] [Read More]

ATLANTA — New U.S. consumer credit data from a joint product of Equifax and Moody's Analytics projects a rebounding consumer environment, along with recovering home and auto markets this year. As numbers reflect pre-recession totals, Equifax and Moody's predicted through CreditForecast.com on Monday that consumers should anticipate steady economic growth in major sectors. Among lending […] [Read More]

CARMEL, Ind. — KAR Auction Services once again cheered the financial performance of two subsidiaries — Insurance Auto Auctions and Automotive Finance Corp. Chief executive officer Jim Hallett declared both operations had "outstanding" years as they both posted rises in profit and revenue of at least 15 percent. Looking first at Insurance Auto Auctions, its […] [Read More]

Chrysler Group rolled out an off-brand certified pre-owned offering this morning and in anticipation of today’s launch, the automaker talked with Auto Remarketing late last week in an exclusive about what Diversified Certified can offer Chrysler’s dealer body. Basically, the program gives Chrysler dealers a way to certify used cars on their lot from other […] [Read More]

Late Thursday, General Motors and Wells Fargo & Co. created a long-term partnership to offer competitive financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in the contiguous states comprising GM’s U.S. West marketing region. Officials explained Wells Fargo will offer GM dealers a complete suite of products alongside the core offering of […] [Read More]

Though auto dealers reported varying sales results from region to region during the early part of 2012, one thing seems fairly clear: the prospects for the future looks bright. In fact, the Federal Reserve noticed widespread optimism among dealers in its latest Beige Book report “All districts reporting on sales outlooks conveyed optimism,” the Fed […] [Read More]

 KAR Auction Services once again cheered the financial performance of two subsidiaries — Insurance Auto Auctions and Automotive Finance Corp. Chief executive officer Jim Hallett declared both operations had “outstanding” years as they both posted rises in profit and revenue of at least 15 percent. Looking first at Insurance Auto Auctions, its 2011 revenue increased […] [Read More]

Manheim revealed this week it has completed its its planned purchase of Dealer Services Corp., which the company said  “reinforces its commitment to provide inventory financing to independent dealers.”  DSC, based in Carmel, Ind., is a used vehicle floor plan company for independent dealers that “complements Manheim’s current lending products provided through Manheim Financial Services,” […] [Read More]