TOKYO — Thanks to a hybrid system technology licensing agreement it entered with Toyota, Mazda plans to develop and build a hybrid vehicle that will likely go on sale in Japan by 2013. Essentially, Mazda will take the hybrid technology supplied by Toyota — which is what is used in the Toyota Prius — and blend it with its Sky engine (which […] [Read More]

HANOVER, Md. — The National Automotive Finance Association announced the keynote speaker and presenters this week who are slated to take center stage during the 14th annual Below-Prime Credit Auto Financing Conference. Serving in the keynote role for the event that's scheduled for June 2 to 4 at the Renaissance Worthington Hotel in Fort Worth, Texas, will be […] [Read More]

ATLANTA — Chip Perry, the president and chief executive officer of AutoTrader.com, shared some dramatic data about the plummeting decline of click-through rates for dealers' online advertising. Perry stressed that manufacturers and dealers alike must transition away from leads and clicks as success measures. He insisted that that industry professionals learn to understand the Internet as […] [Read More]

FORT WORTH, Texas — AmeriCredit announced late last week that it has priced an offering of subprime auto-asset backed securities under its receivables trust platform called AMCAR. The offering is priced at $200 million and the underwriters include Credit Suisse and RBS. Net proceeds will used to provide long-term financing of receivables. The securities will be […] [Read More]

SAN FRANCISCO — In addition to announcing the name change of international locations from Wachovia to the Wells Fargo name and brand, the financial institution also reported that its bank business unit has purchased substantially all the North American factoring portfolio of the GMAC Commercial Services Division. GMAC has been looking to focus more closely on […] [Read More]

PALATINE, Ill. — Recent published reports included comments from consumer groups about how license plate recognition technology used by recovery agencies could be compromising privacy. However, a pair of LPR technology providers and a well-respected industry legal adviser all refuted these claims. One provider, MVTRAC, used its two decades of recovery and remarketing experience to create […] [Read More]

DAYTONA BEACH, Fla. — To the professionals in the repossession industry — and yes there are hundreds of them in this business — there's nothing funny or entertaining about Operacion Repo, so-called "reality TV."  Although it slips by pretty quickly in the credits, it has a disclaimer up front that the scenes are staged, coyly referring to them […] [Read More]

DALLAS — The American Recovery Association deemed its recent North American Repossessors Summit a triumph as hundreds of recovery agencies and industry service providers gathered for a two-day event of constructive dialogue. The sold-out summit on March 13 and 14 drew more than 300 attendees who participated in various panel discussions and listened to speakers from […] [Read More]

OKLAHOMA CITY, Okla. — Just like the energy generated by basketball during March, Dealers Auto Auction of Oklahoma City said lane activity was buzzing during sales at the auction this month, including a "March Madness City" event that created quite a bit of dealer interest. The auction tipped off March with a Chrysler Financial sale on […] [Read More]

AUBURN HILLS, Mich. — Apparently, Chrysler Group has already sent 36 letters of intent or sales and service agreements for reinstatement to dealers whose contracts were rejected under the bankruptcy proceedings last year. And now, the automaker is looking to reinstate 50 additional dealers and is in the process of sending out another round of letters […] [Read More]