WASHINGTON, D.C. — The American Bankers Association's latest Consumer Credit Delinquency Bulletin showed auto loan delinquencies were on the rise during the second quarter as were most loan and credit segments. The association discovered that quarter-over-quarter direct auto loan delinquencies rose from 1.20 percent to 1.23 percent, while indirect auto loan delinquencies climbed from 2.72 […] [Read More]

ALEXANDRIA, Va. — Boosting claims of an expected year-over-year decline for all of 2011, the American Bankruptcy Institute determined U.S. consumer bankruptcy filings through the first nine months of the year dropped by double digits compared to the same time frame a year ago. Relying on data from the National Bankruptcy Research Center, ABI said […] [Read More]

In what is surely to be welcome news for automakers and dealers, close to a third of consumers say they are interested in buying a new vehicle, which is almost a 10-percentage-point improvement from a year ago, according to a Chrome Systems survey. The survey — conducted by IBOPE Zogby International — indicates that 30 […] [Read More]

September marked the fourth straight time new-vehicle transaction prices have fallen on a sequential basis, resulting in a five-month low for what new cars are fetching, according to TrueCar. Specifically, the average new-car transaction price was $29,439 during the month. This is 1.2-percent higher than the year-ago figure but is off modestly (0.1 percent) from […] [Read More]

Manheim expanded its Trade Desk Wednesday to support more dealers across more sales channels. The company highlighted director of Manheim Trade Desk Ben Gutwein and his team will now offer both high-volume buyers and sellers one-on-one advice on Manheim’s complete portfolio of in-lane and digital products and services 24 hours a day, seven days a […] [Read More]

Mercedes-Benz USA revealed Tuesday that it has set down roots in the newly named Mercedes-Benz Superdome — formerly the Louisiana Superdome — and is now the vehicle of choice among the NFL’s New Orleans Saints. The 10-year agreement provides the OEM with official naming rights to the stadium set to host the 2013 Super Bowl […] [Read More]

American Auto Auction Group revealed early this week that it has aquired Your Auction Inc., gaining eight auction locations throughout Florida and Alabama for its portfolio. As part of the acquisition, the group also appointed Your Auction president and founder Gary Connors to the role of AAAG president. Connors will serve as a member of […] [Read More]

Dealers looking for off-lease units might want to mark March 2013 on their calendars. That’s when Kelley Blue Book thinks wholesale volumes for these valuable used units might finally edge higher. The reason KBB believes it will be about 18 months before off-lease availability increases is that’s when a larger amount of leased units begin […] [Read More]

AutoNation enjoyed a 3-percent year-over-year hike in its retail new-vehicle sales during September, and leading the increase for the dealer group were domestic sales, which improved double digits. Overall, AutoNation sold 18,670 new cars last month, up 3 percent from September 2010. The retailer has seen a year-to-date increase of 6 percent through the first […] [Read More]

Along with bringing in a new executive from Nissan to be a part of the company segment, TrueCar revealed Tuesday it completed the acquisition of ALG, formerly a subsidiary of DealerTrack Holdings. TrueCar reiterated ALG will operate as an independent subsidiary, reporting into the data solutions group and continue to be headquartered in Santa Barbara, […] [Read More]