To meet customer demand, Prestige Management Services recently announced it expanded its partnership with OVE.com by doubling the number of online sales it hosts each month. Previously, the online sales were held every other week. But as of June 8, buyers seeking premium Prestige Management Services inventory now are able to shop weekly via OVE.com.  […] [Read More]

AutoPlus announced this week that it has rolled out an iPhone App that serves as an inventory and window sticker labeling product for the auto industry. The AutoPlus iPhone App allows users to collect vehicle details through its VIN bar code scanner and transfer this vehicle data to the computer of their choice. Here is […] [Read More]

Earlier this week, Cars.com revealed the winning model of its Best Value: Price to Pump Award as the champion of its Under 20/Over 35 Shootout. Coming out on top was the 2011 Hyundai Elantra because of its exterior and interior design as well as its smooth ride. Site editors evaluated five compact cars that seat […] [Read More]

FORT WORTH, Texas — Even though the industry is facing ever-increasing regulation thanks to the developing Consumer Financial Protection Bureau and all the rules this will likely entail, the atmosphere at this year's Below Prime Auto Financing Conference in Fort Worth, Texas, appeared to be one of exuberance. The industry has been through the worst, and […] [Read More]

WASHINGTON, D.C. — SubPrime Auto Finance News learned Wednesday that JP Morgan Chase & Co. has settled some challenges raised by the Office of the Comptroller of the Currency over its auto finance credit tactics and credit tactics at two other business lines. In working with the OCC, Chase agreed to a penalty of $2 million […] [Read More]

NEW YORK — Evidently the portfolio assembled by auto lenders during the past five years generated stronger returns for Wall Street investors than other possibilities such as home mortgages. That's according to the assessment offered by DBRS in its latest report "Auto ABS Performance During the Recession — What Went Right." Analysts contend that, "While […] [Read More]

DALLAS — This week, Vehicle Acceptance Corp. joined the National Member Benefit Program orchestrated by the National Independent Automobile Dealers Association. The alignment is geared to provide association members with preferred access to capital and a professional collection efforts. VAC offers financial services that can help dealers excel in the buy-here, pay-here business at branch […] [Read More]

Group 1 Automotive strengthened its market presence in El Paso, Texas, this week by acquiring two more franchise dealerships. The group secured Shamaley Ford and Shamaley Buick-GMC. The dealerships are expected to generate $190.0 million in total estimated annual revenues, according to Group 1. “The acquisition of Shamaley Ford and Shamaley Buick-GMC will complement the […] [Read More]

Economic development department officials in Fairfield, Calif., believe CarMax is going to open a dealership in their community. Their assertion comes from CarMax purchasing two Auto Mall parcels. The parcels consist of a 7.01-acre former Dodge dealership purchased for $5.175 million and a 6.16-acre parcel that housed a former Chrysler Jeep Ram Kia rooftop purchased […] [Read More]

More than 700 dealership managers and auto finance professionals registered for the latest free Auto Remarketing Training Series Webinar, which gave participants the opportunity to gain fresh strategies for a host of store operations. The Webinar panel included top trainers from AutoTrader.com, Carfax, OPENLANE and DealerTrack, who all delved into best practices that can help […] [Read More]