National Highway Traffic Safety Administration officials recently noted General Motors is recalling a pair of 2012 sedans, totaling almost 15,000 units. The models included in separate campaigns are the Buick LaCrosse and Chevrolet Impala. In connection with the LaCrosse, NHTSA explained the recall stems from failing to conform to requirements of Federal Motor Vehicle Safety […] [Read More]

Middle school students in Charlotte-Mecklenburg Schools now can play more sports, courtesy of a generous donation from the Hendrick Automotive Group. Company officials recently revealed their donation of $250,000 will allow one of the largest public school systems in North Carolina to offer a complete program of middle school sports for the 2011-2012 academic year. […] [Read More]

CHADDS FORD, Pa. — With the intention of diving deeper into the subprime market, Flagship Credit Acceptance added a pair of sales executives to its team on Tuesday. The indirect auto finance company headquartered near Philadelphia said it needed the new hires to help lead an expanding national sales force and continue growing its non-prime […] [Read More]

GARDEN CITY, N.Y. — Chase Auto Finance revealed Monday the launch of a new consumer financing program providing retail subvention financing options to Chrysler, Jeep, Dodge and Ram Truck dealers across the U.S.   The arrangement with Chrysler gives dealers the ability to “provide prime and near-prime customers with low interest rates and other incentives to […] [Read More]

IRVINE, Calif. — Continuing to struggle with a decline in the portfolio it manages, Consumer Portfolio Services announced another quarterly loss this week. The second-quarter financials included a 19.1-percent drop in revenue. CPS' revenue slid down by approximately $7.4 million from $38.5 million to $31.2 million. Though executives determined their second-quarter operating expenses dropped 9.8 percent or […] [Read More]

IRVING, Texas — To help the company ramp up to a national platform, Exeter Finance Corp. revealed it is being acquired by Blackstone, a leading investment and advisory firm with about $159 billion in assets. This acquisition has helped Exeter nail down a $600 million credit line to bolster business and take its platform national. This […] [Read More]

KAR Auction Services announced late Monday that ADESA, its subsidiary, has agreed to acquire the equity of OPENLANE. Peter Kelly will continue as OPENLANE’s chief executive officer and will report directly to KAR CEO Jim Hallett, management reported. OPENLANE is being acquired for $210 million in cash, plus an increase for excess cash on OPENLANE’s […] [Read More]

The International Automotive Remarketers Alliance is set to begin the IARA Summer Roundtable tomorrow with a lineup chock-full of speakers and presentations providing insight into numerous facets of the industry, including a panel devoted to consignors. IARA will be holding the roundtable event Tuesday and Wednesday at the Westin Galleria in Dallas. The “Consignor’s State […] [Read More]

Allied Finance Adjusters handed out a half dozen awards during its annual convention, honoring various categories of repossession achievement. Presented by president George Badeen, this year’s winners included: —Paul J. Leleu Achievement Award: Carl Purvis, Federal Auto Recovery of Atlanta. Allied officials explained this award exemplifies a member’s loyalty, harmony and integrity to the organization, its […] [Read More]

Earlier this year, Time Finance Adjusters conducted its annual convention at the same place and city as the National Alliance of Buy-Here, Pay-Here Dealers Conference. That development wasn’t just a coincidence. TFA executive director Ron Brown explained why. “These buy-here, pay-heres have become very legitimate,” Brown insisted to Auto Remarketing. “They’re very big. Most of […] [Read More]