GURNEE, Ill. — A Chicago-area Ford dealership's recent Drive-a-Thon, which let high school students test drive new Ford models, raised "significant" funds for the sports boosters club at a local high school. Last month, Gurnee Ford Lincoln Mercury's three-day event allowed high-school students to take one of nine new models from Ford for 10-minute spin. For […] [Read More]

NEW YORK — The latest S&P/Experian Consumer Credit Default Indices highlighted the continued improving performance of auto loans. Standard & Poor's and Experian based their analysis on data through April of this year and found defaulting balances on vehicle loans slid down to 1.9 percent. The figure represents a 17.5-percent decline from the previous month. Officials […] [Read More]

AUBURN HILLS, Mich. — Thanks to a new partnership with Santander, starting today, Chrysler dealers can ramp up the number of credit-challenged customers they are getting behind the wheel of Chrysler, Dodge and Jeep models. Furthermore, a Chrysler spokesperson told SubPrime Auto Finance News that GMAC is also expanding down the credit spectrum to finance more […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute revealed several double-digit increases regarding several time frame comparisons when looking at latest bankruptcy totals. Beginning with first-quarter results, ABI indicated U.S. bankruptcy cases jumped 17.5 percent over the same period in 2009. That rate is according to data released by the Administrative Office of the U.S. Courts. Specifically, officials […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack is looking to help store management prepare for the imminent deadline for Red Flags enforcement by the Federal Trade Commission. Executives have planned a free Webinar to discuss this topic and more on May 27. Beyond the Red Flags Rule that goes into effect June 1, DealerTrack anticipates that its experts […] [Read More]

ATLANTA — Although popular notions may suggest otherwise, younger consumers seem very much committed to auto ownership and find it to be not only important, but exciting, according to a recent study by AutoTrader.com of "echo boomers," the generation of people who were born between 1975 and 1991. These consumers are also similar to their parents' generation — […] [Read More]

IRVINE, Calif. — This week, executives from Kelley Blue Book marked the official launch of its free application for the iPhone, an app that's actually been live on the Apple iTunes Store since late April. However, they wanted to highlight the capabilities of the application as well as the automaker that plans to serve as a platform […] [Read More]

DALLAS — SuperMedia recently entered into a partnership with the Oodle Network to boost the online presence of its dealer-provided listing Web site EveryCarListed.com. Executives explained the new agreement means dealer clients who push their inventory listings out through EveryCarListed.com can receive priority placement on the Oodle Network. They indicated that Oodle's connections reach social media […] [Read More]

DETROIT — The economy may appear to be headed toward a rebound, but the retail auto segment remains a "buyer's market," with automakers offering heavy incentives, according to AOL Autos, which recently released its Best May Deals list. "Even with clear signs of economic recovery, consumers are still enjoying a buyer's market in dealership showrooms," AOL Autos […] [Read More]

BLOOMFIELD HILLS, Mich. — Penske Automotive Group this week announced the opening of two more luxury brand dealerships to expand its market presence in northern Virginia and Washington, D.C. The group rolled out two dealerships in Chantilly, Va., an Audi store and a Mercedes-Benz rooftop. Executives pointed out that these new operations are located about 16 […] [Read More]