New-vehicle sales should improve during the second half of 2011, according to Paul Taylor, chief economist of the National Automobile Dealers Association. Why? Taylor believes the gains should begin in July as inventory levels increase and gasoline prices drop. “Gasoline prices are currently falling, and that will allow dealers to sell a full mix of […] [Read More]

Announced Monday, Ally Financial has been named the exclusive sponsor of Time Dealer of the Year. The awards program, which is produced in cooperation with the National Automobile Dealers Association, aims to recognize the nation’s most successful auto dealers who also demonstrate a long-standing commitment to community service. "Automobile dealers have a tremendous impact on […] [Read More]

For a service technician at Crossroads Chevrolet-Cadillac in Joplin, Mo., recovering from the horrific tornado that ripped apart the community last month became a little easier thanks to the dealership owner and generosity of volunteers. Normally, Jason Moser spends his days reconditioning trade-ins to boost retail used-vehicle inventory at Crossroads Chevrolet-Cadillac. After the May 22 […] [Read More]

ENGLEWOOD CLIFFS, N.J. — Maserati North America recently tapped Ally Financial to be its official preferred financing provider for brand vehicles in the U.S. and Canada. The luxury automaker indicated Ally will offer wholesale financing and insurance for dealers and retail financing and leasing for consumers. Ally and Maserati have entered into a multi-year agreement […] [Read More]

NORTH LITTLE ROCK, Ark. — J.D. Byrider announced late last week that it is opening a new dealership, the company’s first in Arkansas. The new 25,000-square-foot store is located in Sherwood, Ark., and offers on-site financing, used-car sales, a service department and a customer service center. The Sherwood location is the third dealership for co-owners […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute recently asked visitors to its website if the new Consumer Financial Protection Bureau would be more effective run by one director or a five-member board. Results from the ABI Quick Poll showed a majority of respondents — 60 percent — indicated the CFPB will be more effective if […] [Read More]

FARMINGTON HILLS, Mich. — TD Bank Group held a special celebration late last week in Michigan to officially announce the launch of its North America auto lending brand, TD Auto Finance.  Moreover, the company is already apparently 25 percent ahead of expectations in signing up U.S. dealers. "In the last 70 days, we've been able […] [Read More]

Ritchie Bros. Auctioneers is hosting a multimillion-dollar sale next week that will feature more than 2,000 heavy equipment items and trucks for sale. The two-day unreserved public sale will be held June 22 and June 23 at the company’s permanent site in Houston. Among the equipment up for sale are: —Two 2010 Tigercat 724E feller […] [Read More]

In an effort to provide clarity regarding possible changes connected with automotive debt collection practices, American Financial Services Association’s government affairs committee recently published a white paper about the topic. “With the passage of the Dodd-Frank Act, regulation of debt collection activities will likely increase as the new Consumer Financial Protection Bureau will have the […] [Read More]

Renovo Services recently unveiled its new brands and corporate identity for each of its four company segments as well as a revamped website meant to serve lenders and other companies that need recovery services. Company officials emphasized Renovo Services’ new brands and identities are meant to stress that they can handle any or all segments […] [Read More]