The tentacles of the Japanese disaster’s impact on vehicle production continues to have a far-reaching effect on the auto industry, and a prime example of this is the downswing in May leasing. Lease penetration in May dropped 1.6 percentage points month-over-month to 18.6 percent, according to the latest Industry Health Review from J.D. Power and Associates. Thomas […] [Read More]

Auto Remarketing learned Wednesday that JP Morgan Chase & Co. has revamped its sales scripts and marketing materials for its payment protection products under the Chase Auto Finance brand after the Office of the Comptroller of the Currency raised some challenges. In working with the OCC, Chase agreed to a penalty of $2 million and […] [Read More]

May’s slight downward movement of wholesale vehicle prices is what ADESA’s Tom Kontos has been expecting. ADESA Analytical Services indicated that wholesale used-vehicle prices in May averaged $10,460, a figure that was down 1.1 percent compared to April and 0.8 percent lower than May of last year. “I’ve been saying in my commentary for several […] [Read More]

TrueCar handed out report cards on Wednesday to OEMs and brands, with one particular automaker being honored with a “perfect score.” TrueCar uses eight measurements — for example, pricing, sales, incentives, customer loyalty, market share and days in inventory — to rate companies in its Performance Scorecards. With an “A+” score, Hyundai topped the list […] [Read More]

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]