CLEARWATER, Fla. — Nicholas Financial recently revealed its first quarter results, highlighting a set of substantial increases for both earnings and revenue. Net earnings for the three months came in at $5.303 million, marking a 48 percent increase from the 1Q 2010 total of $3.576 million. Moreover, the company also reported per share diluted net […] [Read More]

SOUTHFIELD, Mich. — Although its second-quarter net income slipped year-over-year, Credit Acceptance Corp., watched that financial reading climb when looking at its performance through the first six months of 2011. Credit Acceptance reported Monday that its second-quarter consolidated net income came in at $44.8 million or $1.72 per diluted share during the time period that […] [Read More]

NEW YORK — Reviewing Ally Financial's preliminary second-quarter results, SubPrime Auto Finance News discovered its auto originations growth was driven in large part by stronger used originations and leasing volume in the U.S., which spiked 74 percent and 155 percent, respectively. Overall, total consumer financing originations came in at $12.5 billion, compared to $10.7 billion a […] [Read More]

ACA International, the association of credit and collection professionals, recently confirmed its new president during its 72nd annual convention and exposition in Dallas. Now overseeing ACA’s volunteer executive committee and board of directors as president is Mark Neeb, of Rochester, Minn. Neeb’s term runs through next year. Neeb, a certified public accountant, entered the third-party […] [Read More]

Renovo Services recently announced it has achieved SAS 70 Type II certification. The company explained this certification requires an in-depth audit of the controls surrounding the development and continuing maintenance of IRIS 2.0, Renovo Service’s proprietary operating platform, as well as the infrastructure and IT procedures needed to support this operation. “Obtaining SAS 70 certification […] [Read More]

Dealers will be treated to more than just the hundreds of vehicles up for grabs at a Dealers Auto Auction of Idaho sale later this month. For its annual mixed martial arts fight sale — which is being held Aug. 16–17 — the auction will set up the mixed martial arts octagon cage on its lot […] [Read More]

In a sign of unity rarely seen, high-ranking executives from more than a dozen automakers joined President Obama late last week to throw support behind the administration’s target of raising the corporate average fuel economy level to almost 55 miles per gallon by 2025. Not all the automakers initially appeared thrilled about potential requirements for higher […] [Read More]

Cars.com recently launched a new solution — Dealer Reviews — aimed at giving dealers the opportunity to drive their online reputations in the same place consumers are shopping for their next vehicle. During the beta period, site officials indicated more than 67 percent of their dealer customers opted in, prompting Cars.com to insist these dealers […] [Read More]

The industry hit used-car sales in the neighborhood of 4.5 million units in June, and Edmunds.com pricing manager Richard Arca expects July’s used total to reflect "something very, very similar." It would appear then that the used market remains fairly stable, as June’s used sales was also rather steady (up 0.9 percent) when compared to […] [Read More]

BMW of North America will have a new president beginning Oct. 1 to fill the shoes of Jim O’Donnell when he retires. Appointed to the position is Ludwig Willisch, who at the moment heads up BMW Group’s European sales region. O’Donnell, meanwhile, has served in the North American president’s post since 2008. BMW says it […] [Read More]