CHARLOTTE, N.C. — Wells Fargo Securities' managing director and senior economist indicated this week that the recovery is real and that his company is not anticipating a double-dip recession, which bodes well for the auto industry. In fact, Mark Vitner said ... [Read More]

SAN ANTONIO — USAA has expanded the number of military personnel who are now are eligible to check out its online vehicle-buying services Now, all veterans of the U.S. Armed Forces who served honorably can test drive the online buying portal to see how much they ... [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute found that March consumer bankruptcy filings totaled the highest amount since Congress overhauled the Bankruptcy Code in 2005. ABI reported that there were 149,268 consumer bankruptcies filed in March. That figure represented a 34-percent ... [Read More]

SCHAUMBURG, Ill. — Experian Automotive recently found that subprime loans on used vehicles are starting to rebound and gain ground. Experian indicated that there was a "slight loosening" of credit for used-vehicle financing in the fourth quarter compared to the third ... [Read More]

DETROIT — GMAC Financial Services announced this week that it will soon provide consumer financing for recreational vehicles and has been tapped by Thor Industries as the preferred financial provider for its retail customers. Thor is one of the world's largest manufacturer's ... [Read More]

BROOKFIELD, Wis. — Fiserv announced this morning that it has launched enhanced risk management capabilities in its next-generation Automotive Loan Origination System. Basically, the enhanced program is designed to empower auto lenders to provide fast, consistent customer credit decisions. "We have ... [Read More]

IRVINE, Calif. — Along with revealing its operating results for the fourth quarter and all of 2009, Consumer Portfolio Services announced it entered into another new financing facility worth $50 million. Company executives indicated that the facility is structured similarly to ... [Read More]

SARASOTA, Fla. — Constellation Automotive Software, which specializes in the buy-here, pay-here marketplace, recently announced it added a new consulting and training practice division. The company tapped industry veterans Don Miller and Al Mosher to serve in consultant roles. Miller spent the past eight ... [Read More]

SANTA BARBARA, Calif. — March sales have been an unexpected surprise for the auto industry, according to Matt Traylen, chief economist and client partner with ALG. In addition to retail sales climbing, leasing levels are expected to come in above last ... [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 ... [Read More]