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NewsAugust 3, 2010

Ally's Automotive Business Achieves Sixth Profitable Month

Ally Financial Inc. (Ally) said in a preliminary report that it achieved its second quarter of profitability, as well as its sixth profitable quarter for its core automotive business.

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NewsAugust 3, 2010

Dealer Satisfaction With Lenders Improves, Survey Says

Lenders who are successful in satisfying automotive dealers by meeting key performance expectations are more likely to capture a greater share of preferred loan applications from their dealer network, according to the J.D. Power and Associates 2010 U.S. Dealer Financing Satisfaction Study.

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NewsJuly 27, 2010

Loan Losses Improve for Nation's Largest Banks

Further evidence that losses from failed loans may have peaked in the first half of 2010 was revealed as the nation’s largest banks issued their second-quarter report cards.

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NewsJuly 27, 2010

RouteOne Makes Changes to Executive Management Team

RouteOne announced its replacement for departing Chief Information Officer Joel Gruber, who is leaving the company at the end of July to pursue a new career opportunity.

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NewsJuly 27, 2010

Subprime Pool Expands as FICO Scores Drop

Fair Isaac Corp.’s latest figures indicate that more than 43.4 million Americans now have a FICO score of 599 or less. That's more than one-quarter of all U.S. consumers and an increase of 2.4 million since 2008.

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NewsJuly 27, 2010

Ford and Captive Finance Unit Report 2Q Profits

Ford Motor Company and Ford Motor Credit both reported second-quarter profits last week, improving on the results from the year-ago period.

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NewsJuly 22, 2010

NADA: Financial Reform Law Keeps Auto Financing Affordable and Accessible

With President Obama’s signature, the most significant overhaul of the nation’s financial system is now law and with it, consumers will still be able to find competitive financing options at auto dealerships.

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NewsJuly 22, 2010

GM to Acquire AmeriCredit

To meet customer demand for leasing and non-prime financing for GM vehicles, General Motors and AmeriCredit Corp. announced July 22 that they entered into a definitive agreement for GM to acquire the subprime auto finance company in an all-cash transaction valued at approximately $3.5 billion.

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NewsJuly 20, 2010

Conservative Consumers to Challenge Dealers, F&I Departments, Says KBB

Consumers are expected to remain conservative in today’s still struggling economy, with most in-market shoppers expected to spend a relatively small amount of money on their next vehicle purchase, according to a recent survey. In fact, most respondents said they are more like to buy used vs. new.

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NewsJuly 16, 2010

BMW Group Financial Services Names New VP of North America Operations

BMW Group Financial Services has appointed Wayne Orchowski as vice president of North America operations and chief operating officer, effective Sept. 1, 2010.

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