E-NEWSLETTER

Kelley Blue Book has released a list of five new cars that are projected to depreciate by at least 80 percent within five years.

Tags: Kelley Blue Book, vehicle depreciation

The recession’s effects on the industry last year wasn’t lost on F&I, according to the National Automobile Dealers Association’s DATA report, which showed declines in aftermarket income, F&I and service-contract acceptance rates.

Tags: aftermarket income, F&I acceptance rates, NADA, service contract acceptance rates

Recent actions by a government agency, which were reported by USA Today over the weekend, could mean the $3 billion Cash for Clunker’s program is entering the enforcement phase.

Tags: Cash for Clunkers program, NHTSA

DealerTrack Inc., a subsidiary of DealerTrack Holdings Inc., a software provider for the U.S. automotive retail industry, announced that the number of active financing sources connected to the DealerTrack network has reached 900.

Tags: DEALERTRACK

Resource Automotive Inc., a training, consulting and financial services provider and a unit of The Warranty Group Inc., today announced an agreement with the Mopar division of Chrysler Group LLC to provide dealers with wholesale mechanical parts training and support.

Tags: Chrysler, Mopar, Resource Automotive, service department, The Warranty Group

Wells Fargo Preferred Capital, a subsidiary of Wells Fargo & Company, has increased its revolving credit facility from $240 million for one year to $365 million for three years to Westlake Financial Services.

Tags: credit facility, WELLS FARGO, Westlake Financial Services

Performance Loyalty Group Inc., in partnership with MediaTrac LLC, has enrolled over 200 auto dealerships in the UltraCare Preventative Maintenance Program since it was introduced in April.

Tags: prepaid maintenance plans

BarNone Inc., a provider of special finance leads, today launched its new Internet lead program, LiveLead. Through the program, BarNone verifies leads with multiple phone calls from its live-call center.

Tags: Internet leads, special finance

Driven mainly by fleet sales, July saw new-vehicle sales cruise to an 11.55 million unit annual pace – the third highest level this year.

Tags: NADA Used Car Guide, used-vehicle market

Subprime auto lender AmeriCredit Corp. released its quarterly finances for the first time following the announcement of its impending acquisition by General Motors Co. The company was able to increase both income and originations while decreasing charge-offs and delinquency rates compared to the same quarter last year.

Tags: AmeriCredit, subprime finance

DealerLink, a provider of automotive leads, is prepared to launch its newest brand: SpecialFinanceLeads.com. The company acquired the domain in order to expand its industry footprint and improve its industry targeting.

Tags: Internet leads, special finance

Toyota and Nissan surpassed the industry’s 6.8 percent increase in month-over-month sales in July, which CNW Research attributed to heavy promotions of lease deals and used-car trade-in programs by both automakers.

Tags: CNW Research, manufacturer incentives, monthly sales

Mercedes-Benz Financial (MBF) promoted Horacio Trujillo to be the head of remarketing, effective Sept.1.

Tags: Mercedes-Benz Financial

Capital One Auto Finance increased originations by more than 31 percent from the first quarter of 2010, according to the company’s second-quarter financial report. Total originations now account for more than $1.8 billion in loans for the full-spectrum lender.

Tags: Capital One Auto Finance, originations

Wolters Kluwer Financial Services announced today that independent automobile finance company AmeriCredit Corp. will utilize its AppOne platform to help further expand loan originations in the auto finance market.

Tags: AmeriCredit, General Motors, loan platform, Wolters Kluwer Financial Services

The National Automobile Dealers Association (NADA) will co-sponsor the third annual Dealer Day Conference at the Specialty Equipment Market Association’s (SEMA) 2010 convention at the Las Vegas Hilton.

Tags: accessories department, NADA, NADA University, National Independent Automobile Dealers Associatio, SEMA

Warranty Inspection Services LLC, a provider of mechanical breakdown inspection services to the vehicle service contract industry, introduced VeriScan, a tool designed to increase the accuracy, timeliness and thoroughness of mechanical breakdown inspection reports.

Tags: vehicle inspection, vehicle warranties

The National Alliance of Buy Here, Pay Here Dealers (NABD) released a preliminary agenda for its upcoming fourth annual Underwriting and Collections Conference, which will be held in Dallas from Nov. 7-9.

Tags: BHPH, buy-here, pay-here , NABD, underwriting and collections

General Motors announced last Thursday that Edward E. Whitacre, Jr. will step down as chief executive officer on Sept. 1, 2010, and as chairman of the board by the end of the year

Tags: General Motors

Resource Automotive Inc., a training, consulting and financial services provider and a unit of The Warranty Group Inc., has launched TWGConnect, an online warranty claims system for its vehicle service contract, GAP, pre-paid maintenance and tire-and-wheel programs.

Tags: GAP, pre-paid maintenance, Resource Automotive, tire and wheel, VEHICLE SERVICE CONTRACT, warranty claims system

The arrival of 2010 model-year vehicles at auction has put downward pressure on late-model luxury vehicles, according to this month’s Blue Book Market Report from Kelley Blue Book.

Tags: auction, Kelley Blue Book, luxury vehicles, used vehicle sales

This month's new-vehicle sales (including fleet sales) are expected to be 1,028,200 units, a 17.7 percent decrease from August 2009 and a 1.4 percent decrease from July 2010, according to Edmunds.com.

Tags: Cash for Clunkers program, Chrysler, Edmunds.com, Ford, GM, Honda, monthly sales, Nissan, Toyota