DEARBORN, Mich. — Late last week, the Automotive Hall of Fame honored five industry executives with 2010 Distinguished Service Citations and announced its 2009 Industry Leader of the Year. Among all the recipients, chief executive officers at two automakers were honored, as Hyundai Motor America president and CEO John Krafcik earned a Distinguished Service Citation and […] [Read More]

BURLINGTON, Vt. — Last year was enormously successful for Dealer.com, according to company officials. In fact, the company posted the highest growth rate in its 12-year history, they said. To be specific, company executives calculated that Dealer.com's five-year revenue growth rate spiked to a whopping 675 percent in 2009. Besides the financial standing, Dealer.com also touted its […] [Read More]

COLUMBUS, Ohio — A total of five Ohio credit unions have decided to integrate an online vehicle shopping solution from Aimbridge Indirect Lending of Ohio into their list of available services. Among the organizations that opted to make WhereMembersBuy.com accessible to members are Directions Credit Union, Cintel Credit Union, CME Credit Union, Champion Credit Union and […] [Read More]

CHARLOTTE, N.C. — Sonic Automotive announced Tuesday that it entered into new syndicated credit facilities with several financial institutions that mature in August 2012. Furthermore, company executives noted that new floor plan arrangements with several manufacturer-affiliated finance companies for both new and used vehicles have been added as well. They pointed out these new lending arrangements […] [Read More]

CLEARWATER, Fla. — Nicholas Financial recently announced that the company has reached a new agreement with its consortium of lenders to increase the size of its credit line from $115 million to $140 million. The new contract extends the maturity date to Nov. 30, 2011, and adds Wells Fargo Preferred Capital as a new participant in […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack will host a free Webinar for dealers covering compliance and online marketing strategies on Jan. 20. The online seminar will highlight best practices for developing a program to minimize identity theft and compliance risks that can arise whenever dealers take credit applications, whether online or on-location. Some of the topics will […] [Read More]

ESCONDIDO, Calif. — There is no doubt the recovery industry like many industries has been hit hard from the current economic environment. While people may assume a down economy equals more repossessions, that isn't the case. On top of one of the worst economic climates in history, low fees, contingent work and no compensation for investigations […] [Read More]

CITRUS HEIGHTS, Calif. — Sparked by endorsements and substantial growth last year, Repo Remarketing expanded its executive team by adding a pair of industry veterans. Assuming the role as vice president of market development is Dorothy Drake, who has a total of 30 years of industry experience. The majority of Drake's career, more than 20 years […] [Read More]

CARTERSVILLE, Ga. — ABC Atlanta/Redtop Auto Auction recently held its sixth anniversary sale, where it offered more than 1,100 vehicles for sale and gave away a NASCAR truck as a grand prize in its raffle. Officials called the event a "huge success," as 640 of the offered units were sold. The Toyota truck — which was sponsored […] [Read More]

CHARLESTON, S.C. — Two well-known industry veterans have joined together to launch American Auto Auction Group. The company is headed up by Keith Lelux, as director and chief operating officer, and Steve Simon, as director and chief executive officer. American AA Group is debuting with two auction properties, both of which are located in the Southeast: Charleston Auto Auction (Moncks Corner, […] [Read More]