HOUSTON — With new origination volume soaring, First Investors Financial Services Group finished its 2011 fiscal year on a record-setting note, watching net income climb to the highest point in company history. Officials recently calculated their net earnings came in at $1,342,365 or 29 cents per basic common share for the fourth quarter that ended […] [Read More]

OVERLAND PARK, Kan. — Whether it's a well-established buy-here, pay-here dealership or a franchise lot looking to venture into the BHPH market, NCM Associates is planning a free Webinar to benefit all managers and salespeople. The upcoming 60-minute session with NCM's Brent Carmichael titled, "Understanding the Buy-Here, Pay-Here Business Model," is set for 2 p.m. […] [Read More]

AutoMotionTV recently released a new version of its AutoMotionTV Dealer App platform. The app creation platform can allow dealers to create interactive mobile apps for Apple’s iOS and Android-based mobile devices. Company officials explained enhanced analytics included in the new version can give dealers detailed reporting options such as in-app user behavior and user action […] [Read More]

After citing industry analyses showing how repossession trends are declining, Repo Remarketing highlighted how the company has enjoyed growth during the past six months. How much growth? Repo Remarketing says it’s been 46 percent. Jodie Dawson, Repo Remarketing’s director of repossessions, revealed that although credit union partners have seen a decrease in overall repossessions, there […] [Read More]

Manheim’s Tom Webb recently projected where repossession volumes might settle at this year, acknowledging his estimate is a little lower than anticipated. Webb predicted 2011 repo volume will include 1.3 million units, extending a decline since the industry peak two years ago. He pointed out repossessions totaled 1.9 million units back in 2009 and came […] [Read More]

The Auction Broadcasting Co. recently welcomed two new executives, hiring a new director of corporate accounts and a new director of fleet/lease. Appointed to the roles are Matthew Yoo, who will serve in the corporate accounts role, and Linda McNeely, who now heads up fleet/lease. Yoo’s experience includes time with GE Capital Auto Lease, US Bank […] [Read More]

Hertz Global Holdings and Donlen Corp. this morning announced they have signed a definitive agreement for Hertz to acquire Donlen. The transaction has been approved by the boards of directors of both companies and by the stockholders of Donlen. The transaction is expected to be completed in the third quarter of 2011, subject to the […] [Read More]

A Lehman Brothers Holdings business unit reportedly filed a complaint in federal bankruptcy court in Manhattan alleging that AmeriCredit undervalued termination payments for interest rate swap agreements related to auto-loan securitizations. Bloomberg reported that Lehman Brothers Special Financing entered into swap agreements with trusts sponsored in 2005 and 2007 by AmeriCredit that issued $3.85 billion […] [Read More]

Auto Remarketing Conferences recently announced that registration is open for Used Car Week, featuring the Certified Pre-Owned Dealer Conference, the National Remarketing Conference and the all-new Re3 (pronounced “ree-three”) Conference. All three events will take place at the Red Rock Casino Resort and Spa in Las Vegas, over the course of one week, Nov. 14-18. [Read More]

TrueCar.com rolled out its monthly Performance Scorecards for manufacturers and brands, and a domestic took the top honors for June. Site analysts determined the top manufacturer on the June scorecards was General Motors, followed by Porsche and Hyundai. Near the bottom of the list were Saab and Mazda. TrueCar.com also revealed brands that received the […] [Read More]