NEW YORK — Consumers are starting to feel better about the economy and their own financial situations, but they still are rather cautious, and most are still planning to continue dollar-stretching habits even in easier financial times, according to a recent study from Deloitte. More specifically, 55 percent of respondents in the early-May study believe the […] [Read More]

MONTVALE, N.J. — A high-level executive from Mercedes-Benz USA predicted enormous industry changes ahead since new greenhouse gas emissions standards have been signed into federal law. The automaker's manager of advanced product planning expects more vehicle emissions changes to happen during the next 10 years than what's occurred in the previous half century. Sascha Simon stressed […] [Read More]

BOCA RATON, Fla. — Executives from PSCars.com want to take three-dimensional technology that's become so popular at the movies and transfer it to consumers who are looking for a used or new vehicle. The site boasts a three-dimension showroom through its new solution, the Car Configurator. Executives contend that their online tool can connect consumers and […] [Read More]

MT. VERNON, Iowa — Plaza Auto Auction this week named a new fleet/lease manager. Coming over to the Iowa auction from Manheim Milwaukee where he held the same position is Tony Randazzo. Randazzo served as fleet/lease manager at Manheim Milwaukee for seven years. During the previous decade, Plaza AA noted that Randazzo worked in the auto […] [Read More]

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]