IRVINE, Calif. — Despite fourth-quarter and full-year drops in revenue and operating expenses still resulting in pre-tax and net losses, Consumer Portfolio Services emphasized strides the company made to close out 2010 in connection with two new credit facilities and other initiatives. The company first articulated its fourth-quarter results for the period that ended Dec. […] [Read More]

ALEXANDRIA, Va. — American Bankruptcy Institute officials spotted a positive trend developing in the first quarter. Consumer bankruptcies for the first quarter of 2011 decreased 6 percent nationwide from the same time period last year. ABI came to that assertion by relying on data from the National Bankruptcy Research Center. The institute explained the data […] [Read More]

FORT WORTH, Texas — General Motors Financial Co. announced Wednesday that it has priced a $950 million offering of auto receivables-backed securities through lead managers Deutsche Bank Securities, J.P. Morgan and UBS Investment Bank. Co-managers include Barclays Capital, Credit Suisse and RBS. The company plans to use the net proceeds for the long-term financing of its […] [Read More]

CARY, N.C. — The staff of SubPrime Auto Finance News is once again preparing for the annual issue which features the SubPrime 75, or top companies that play a role in the auto finance marketplace. As such, the staff is now seeking company nominations, but move quickly because the deadline closes on Tuesday, April 12. Whether […] [Read More]

The National Independent Automobile Dealers Association and the Edward E. Hall and Co. property and casualty insurance brokerage have teamed up for a new insurance program for NIADA members that officials say will offer the comprehensive coverage dealerships need. According to officials, the areas in which the NIADA Independent Auto Dealer Insurance Program will provide […] [Read More]

In light of the aftermath of the disaster in Japan as well as skyrocketing gas prices, there has been a steeper-than-projected spike in used-vehicle prices on both the retail and wholesale fronts, according to NADAguides. The company suggests these increases will likely stick around for the next three months or longer. “With a tight supply of used […] [Read More]

The Insurance Information Institute reports that more than 25 percent of all businesses close down following a natural disaster and never open their doors again. The American International Automobile Dealers Association wants to know if your dealership is prepared. “A disaster recovery plan can make all the difference between the loss of your business and […] [Read More]

Contact At Once, a leading provider of dealer chat, announced the newest version of its mobile chat app this week, which now covers the iPhone and iPod Touch, in addition to the iPad2.   The latest release of the ContactAtOnce! Mobile Chat App offers dealership salespeople the freedom to move about the dealership, while continuing […] [Read More]

Chrysler has a new head of its certified pre-owned operations, the automaker revealed to Auto Remarketing this week. Taking over for Lisa Way — who has become the automaker’s senior manager of revenue management — is Eric Swanson. According to the latest statistics from Autodata Corp., Chrysler saw its CPO sales climb 9.8 percent on a […] [Read More]

Used-vehicle sales surged over 38 percent sequentially in March and climbed more than 4 percent on a year-over-year basis, according to CNW Research, which said Monday that passenger cars, in particular, grabbed a greater share of the used market during the month. Specifically, used sales totaled just fewer than 2.5 million units for the month, […] [Read More]