NEW YORK — Ally Financial addressed speculation that it might venture into more subprime auto lending. The company reiterated to SubPrime Auto Finance News about its decision to concentrate on the prime segment. However, Ally explained how it approaches borrowers who might fall into the nonprime space. "Ally Financial's strategy is to extend credit using […] [Read More]

FORT WORTH Texas — General Motors dealers who use GM Financial to service subprime buyers could be using the company for more store financing operations later this year. GM Financial confirmed Wednesday that it plans to give franchise dealers a choice for new inventory floor planning besides Ally Financial. GM Financial hopes to have at […] [Read More]

BANDON, Ore. — CNW Research's May used-vehicle sales figures show how independent and buy-here, pay-here dealers struggled somewhat to maintain retail traction because of inventory limitations. Independent dealers sold 1,490,749 used vehicles in May, a decline of 4.4 percent from a year ago, according to CNW. However, the amount was 10.8 percent more than what […] [Read More]

EDINA, Minn. — Covering 12 states, CarHop's network of buy-here, pay-here dealerships now is near 50 stores because of the recent openings in Bremerton, Wash., and Irving, Texas. The new lot in Irving is CarHop's fifth store in the Dallas-Fort Worth area. CarHop's Irving store is located at 601 N. Belt Line Dr. between the […] [Read More]

While analyses from two different firms point to differing perspectives on automaker incentive spending, one thing appears to be quite clear: automakers were quite averse to laying down incentives during May. According to a report from Edmunds.com, they were particularly hesitant to put incentives on small cars as demand for these units climbed in light […] [Read More]

CarGurus scoured more than 1,000 written reviews posted on its website during the past six months and found five clear reasons why some dealers are loved by shoppers while also listing the top five reasons why some dealers are found to be not so appealing. Site officials discovered poor communication and deceptive business practices were […] [Read More]

Members of the New England Motor Press Association and WheelsTV’s writers and analysts on Tuesday revealed the 2011 WheelsTV POV of the Year — presented annually to one generation of a pre-owned vehicle. The year’s honor went to the Ford Fusion from the 2006 through 2009 model years. To qualify for the award, officials explained […] [Read More]

The Dealer Services Group of Automatic Data Processing today announced that ADP and Ford have signed an agreement for the license of the Ford Automated Card Everyone solution, developed by ADP. The agreement states that Ford will work and contract directly with its dealer body for the ACE Program. The program includes the ADP-developed version […] [Read More]

Gas prices have begun to come down from the dramatic surges spotted this spring but are still at relatively high levels. In light of high fuel costs, NADAguides shared recently what it has found to be the fuel-friendliest rides. Leading the way on the NADAguides Most Fuel Efficient Vehicles list — which is broken down […] [Read More]

When automakers begin reporting May results today, the seasonally adjusted annualized rate for retail new-vehicle sales likely won’t reach the 9.5 million unit level, according to J.D. Power and Associates. The last time the industry failed to hit this mark was nine months ago. The overall SAAR is expected to miss the 12 million unit mark, […] [Read More]