BOSTON — The Securities and Exchange Commission is alleging that Inofin, a subprime auto finance firm, and several of its top officers improperly raised funds through unregistered securities, among other claims. The SEC is taking the company to court over the allegations and has named top officers in the lawsuit as well, including Michael Cuomo, Kevin […] [Read More]

Renovo Services, a single-source solution provider of recovery and skip-tracing services, recently named a president and chief operating officer as well as chief information officer. Kevin Flynn, Renovo Services’ chairman and chief executive officer, tapped Andrew Mahoney as president and COO. An industry veteran with stints at Alamo Rent-a-Car, JM Family Enterprises and most recently FLD, Mahoney […] [Read More]

Because of what industry veterans are calling an unusual amount of violence in conjunction with the recovery process during the past 12 months, Ron Brown recently advised members of Time Finance Adjusters about the dangers of picking up vehicles nowadays. “Shootings, stabbings and hit-and-runs are becoming commonplace,” Brown declared. “The risk to asset recovery specialists, […] [Read More]

ADESA Kansas City recently announced plans for its annual Spring Corvette and Specialty Sale, which is scheduled for later this month. The sale — which will take place April 28 through April 29 — will include a bevy of Chevrolet Corvettes and Harley-Davidson motorcycles, as well as specialty units. There will be commemorative T-shirts given out […] [Read More]

For dealers who have large Hispanic population in their market, TrueCar.com’s latest study sheds some light on what specific brands and models that most appeal to these potential buyers. The site’s study showed import brands and models dominated the Top 10 list. TrueCar.com pointed out Hispanic buyers made up 7 percent of all new-vehicle retail […] [Read More]

While it’s no secret that fuel costs often affect consumers’ vehicle choices, more than half of shoppers are apparently now saying that they won’t change vehicle size the next time they purchase, according to a recent survey from Consumers Report. What’s more, almost a fifth (19 percent) said the next vehicle they purchase will be bigger than […] [Read More]

In the latest update from the automaker, Toyota Motor Corp. decided that vehicle production from May 10 to June 3 will proceed at approximately 50 percent of normal. “As TMC continues to address its production situation in Japan following the disaster, (the company) will decide on production after this period after assessing the situation of […] [Read More]

In a speech last week to the Society of Automotive Engineers 2011 World Congress, Dan Akerson called General Motors’ ability to keep operating efficiently despite part shortages from Japan “something of an engineering feat in its own right.” GM’s chairman and chief executive officer began by describing his relatively short tenure in the auto industry […] [Read More]

If consumers continue to keep grabbing up vehicles like they have been earlier this month, then April’s seasonally adjusted annualized sales rate for the new-car market could top 14 million units, according to Edmunds.com. However, the site tempered this notion by suggesting that the market is likely to tap on the brakes toward the end of April, resulting in […] [Read More]

Auto Dealer Monthly unveiled in the April issue its 2011 Dealers’ Choice Awards, which lets dealerships vote on the top vendors, suppliers and finance companies. In total, 54 awards were doled out in 21 different categories, with 45 companies picking up honors. The companies were evaluated by dealerships in the following measures: —The product or service provided. […] [Read More]