CLEARWATER, Fla. — A double-digit jump in revenue pushed Nicholas Financial to record net earnings during its most recent quarter as well as impressive gains for the first six months of its fiscal year. Company executives recently shared that their net earnings for the second quarter of the fiscal year — excluding change in fair value of interest […] [Read More]

PALATINE, Ill. — This week, Santander Consumer USA joined MVTRAC's network of automotive lenders. The new relationship means as an indirect/direct lender and portfolio purchaser with more than 12,000 dealership relationships nationwide, Santander brings thousands of VINs and an ongoing daily supply of recovery cases to MVTRAC's Intelligent Data Network. MVTRAC officials reiterated what they provide to […] [Read More]

HAUPPAUGE, N.Y. — CU Xpress Lease, a leading credit union lease provider, says it is witnessing a record-setting pace is auto leasing activity, with September up 100 percent year-over-year. The company went on to say it processed more than 1,500 lease applications for October. Officials said October is about 150 percent better than the September figures and double that […] [Read More]

The International Automotive Remarketers Alliance announced late last week that all remarketers at EMKAY have successfully passed the IARA Certified Automotive Remarketer Program, making it the only fleet management company to have its entire remarketing team receive this honor. Earning the certification from IARA were Les Lynott — the manager of EMKAY’s vehicle remarketing and fleet analytics […] [Read More]

OPENLANE and the Professional Repossessors Interactive Operating System finalized a partnership Monday resulting in financial institutions and recovery agents now being able to remarket and sell repossessed vehicles for their lenders online. Officials explained PRIOS is a Web-based communications system conceived by an industry consortium of recovery agencies. They stated PRIOS can allow repossession companies […] [Read More]

For many years, the recovery industry has flown under the radar. Thanks to recently published articles like “Repo Madness” the repeated negative news about lenders and the bad economy has moved the recovery industry into the spotlight. The majority of recovery agents liked the anonymity and never really had to step into the limelight or […] [Read More]

Toyota emphatically responded to multiple reports late last week that stemmed from revised lawsuit claims alleging the automaker secretly bought back vehicles associated with alleged unintended acceleration. The latest turn of events surfaced when lawsuit claims filed in U.S. District Court in Santa Ana, Calif., charged that the automaker allegedly received confidentiality agreements barring former […] [Read More]

Bill Zadeits has been named president of Cherokee Automotive Group and Ron Smith has assumed the position of chairman/CEO of the company, it was announced today. The new responsibilities take effect today, said Smith. [Read More]

Dollar Thrifty Automotive Group announced late last week that its subsidiary, Rental Car Finance Corp., completed a private placement of rental car asset backed variable funding notes, Series 2010-3. When fully funded, executives indicated the notes will provide $450 million of additional financing. They explained the revolving period for the notes ends in October 2011 […] [Read More]

DrivingSales, a dealer social network, recently presented the first Innovation Cup Award for the most innovative dealership solution of 2010 during its Executive Summit in Las Vegas. Scoring the highest in dealer reviewing to take home the honor was eCarList True Target Mobile. Site officials said Cobalt Digital Advertising Package, GOSO — Social Media Dashboard, […] [Read More]