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The Spark Between EVs & CPO
In light of electric vehicle maker VinFast launching a certified pre-owned program in the U.S., Auto Remarketing senior editor Joe Overby connects with leaders from the EV space to discuss why the segment is a natural fit for CPO and ... Listen Here
Vincenzo Ciampi of iA Financial Group
Next up on the Canada’s Used Car Week Live Stage is Vincenzo Ciampi . who is senior vice president, of auto finance and dealer services for Canada at iA Financial Group. Ciampi talks with Cherokee Media Group’s Joe Overby about ... Listen Here
Ted Berlovich of Clutch
Continuing the discussions from the Live Stage at Canada’s Used Car Week, senior editor Joe Overby connects with Ted Berlovich, director of wholesale at online used-car retailer Clutch. Berlovich explained the company’s wholesale process, how the company handles some of ... Listen Here

DealerTrack: 2Q Transactions Hit 23.5 Million

Nick Zulovich
LAKE SUCCESS, N.Y. — DealerTrack announced that GAAP net income for the quarter came in at $6.3 million, up 35 percent from $4.7 million for the second quarter of last year. Additionally, revenue for the quarter was $58.5 million, up ... [Read More]

AmeriCredit’s CEO Tackles Industry Concerns

Nick Zulovich
FORT WORTH, Texas — Addressing the unstable credit market and liquidity concerns by many in the industry who are keeping a particularly watchful eye on subprime companies, AmeriCredit's president and chief executive officer reassured analysts that his company has no ... [Read More]

Chrysler Financial Sees More Services in Future, Mercedes-Benz Financial Finds New Offices

Nick Zulovich
FARMINGTON HILLS, Mich., and FORT WORTH, Texas — In addition to identifying top executives, Chrysler Financial said its recent independence from DaimlerChrysler will cause no disruption in services or programs. In fact, company officials indicated the new parent company, Cerberus, ... [Read More]

J.D Byrider Launches Site to Dispel Misconceptions about Business

Nick Zulovich
CARMEL, Ind. — In an effort to correct misconceptions about its business, J.D. Byrider announced it has launched a new Web site at JDBFacts.com. "We see a parallel between us and Blockbuster," explained Steve Wedding, president of Byrider franchising. "When ... [Read More]

NAF Association, NADC to Host Workshops

Nick Zulovich
HANOVER, Md. — The National Automotive Finance Association and the National Association of Dealer Counsel announced they will hold educational sessions in September and October. The NAF Association will present a half-day workshop Sept. 23 at the Millennium Hotel in ... [Read More]

ABA Encourages Bankers to Help Teens Learn Credit Lessons

Nick Zulovich
WASHINGTON, D.C. — The American Bankers Association is encouraging bankers to participate in the fifth annual Get Smart About Credit Day, which brings banking professionals into schools to help teens learn valuable credit lessons. The event will be held Oct. ... [Read More]

DealerTrack Acquires AutoStyleMart

Nick Zulovich
LAKE SUCCESS, N.Y. — DealerTrack announced Wednesday that it has purchased AutoStyleMart, which is a provider of on-demand software solutions that offers dealers the ability to procure, manage and sell vehicle accessories. Executives said the new company acquisition was designed ... [Read More]

White River Shares 2Q Results

Nick Zulovich
INDIANAPOLIS — White River Capital, a special auto finance company that acquires subprime receivables from franchised and independent dealers, announced that net income for the second quarter was $1.7 million, down from $3.6 million in the same period last year. The ... [Read More]

GMAC: Used-Vehicle Originations Up 50 Percent Over Last Year

Nick Zulovich
NEW YORK — GMAC Financial Services reported second-quarter net income of $293 million, compared to $787 million in 2006. According to officials, strong performance in GMAC's global automotive finance and insurance businesses offset losses in the real estate finance business. GMAC's ... [Read More]

Ford Credit Offers Reasons for Lower 2Q Net Income

Nick Zulovich
DEARBORN, Mich. — Ford Motor Credit announced net income of $62 million in the second quarter, down $242 million from earnings of $304 million a year earlier. The decrease in earnings primarily reflected higher borrowing costs, lower credit loss reserve reductions, ... [Read More]

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