ATLANTA — According to its most recent report on consumer credit trends, Equifax discovered several signs that the credit cycle is moving towards stabilization and growth, while subprime lending is also increasing in the auto, bankcard and consumer finance segments. Auto loan originations, in particular, contributed to the good news, rising nearly 17 percent year-to-date in April and currently up 9 […] [Read More]

WESTLAKE VILLAGE, Calif. — J.D. Power and Associates discovered dealer satisfaction with automotive financing lenders has increased notably this year with improvement by certain banks outpacing gains by captive lenders, particularly in the prime retail credit space. Assertions in J.D. Power's 2011 U.S. Dealer Financing Satisfaction Study released Thursday also showed dealer satisfaction with lenders […] [Read More]

WASHINGTON, D.C. — Auto and credit/debt came in as Nos. 1 and 2 in top 2010 consumer complaints, according to a new survey out this week. And interestingly, Internet sales came in at No. 6, with one of the key examples being a company that advertised online, purporting to be "eBay Motors," and, of course, […] [Read More]

In what turned out to be the company’s best second quarter for earnings per share in five years, Lithia Motors achieved double-digit gains in same-store used revenue and same-store used sales, the company revealed Wednesday. Furthermore, Lithia more than doubled its adjusted net income from continuing operations, which totaled $14.6 million ($0.54 per share), up […] [Read More]

Penske Automotive Group revealed this week that its board of directors increased its quarterly dividend 14 percent from the previous quarter. The cash dividend Penske intends to pay is 8 cents per share, up from 7 cents per share. The company noted the dividend is payable on Sept. 1 to shareholders of record on Aug. […] [Read More]

A total of 18 different nameplates topped the industry average that reached an all-time high since J.D. Power and Associates began orchestrating the U.S. Automotive Performance, Execution and Layout (APEAL) Study. With the industry average increasing to 781 on a 1,000-point scale, J.D. Power indicated that figure is greater than any average analysts have seen […] [Read More]

AutoNation notched a significant gain in used-vehicle gross profit during the second quarter, which along with a major lift in new gross profits, helped the retailer’s operating income climb double digits. In other good news for its used operations, AutoNation moved 42,833 retail-used sales during the period, an improvement of almost 6 percent from the […] [Read More]

Chevrolet revealed today it will be involving its fans and customers in its 100th birthday celebration. As the countdown to the big day — Nov. 3 — begins, the automaker will be encouraging its followers to vote for their favorite Chevy cars and trucks and “take the birthday party to their communities with the help […] [Read More]

Reporting second-quarter earnings on Tuesday morning, three of the country’s largest dealer groups — Asbury Automotive Group, Group 1 Automotive and Sonic Automotive — enjoyed lifts in their used-car operations from a year ago, helping all three succeed in an auto environment that was limited due to the Japanese disasters. [Read More]

Though the company still incurred a net loss in the second quarter, Chrysler’s top boss was upbeat about the automaker’s progress and where it may be headed. When quarterly results were released Tuesday — which marked the first time Chrysler and Fiat have unveiled results together — not only was Chrysler’s progress highlighted, but officials […] [Read More]