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NewsJuly 9, 2013

Private Equity Money Could Fuel Higher Credit Losses for Subprime Auto

Moody’s notes a gradual weakening of credit in its report on the subprime auto ABS market, but the credit rating agency believes private equity money flowing into the market could intensify competition and cause higher credit losses.

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NewsJuly 9, 2013

PCMI Delivers New Software Suite for Dealers, Agents and TPAs

PCMI’s Policy Claim and Reporting Solutions (PCRS) platform helps increase F&I sales, improve claim results, and simplify reporting for insurers, third-party administrators and auto dealers, company officials claim.

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NewsJuly 9, 2013

NAC Names New IT Director

Tony Zimmerman, former senior development manager of corporate systems and business intelligence at Safe Auto, will oversee NAC’s enterprise system and business processes as IT director.

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NewsJuly 9, 2013

CUDL Reaches 10,000-Dealer Milestone

After adding more than 1,000 dealers last year and expanding into Canada, CUDL announced that it now has 10,000 dealers on its credit union lending network.

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NewsJuly 9, 2013

Santander Confirms Plans for IPO

According to a filing with SEC last week, Santander Consumer USA confirmed its intentions to raise up to $50 million in an initial public offering.

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NewsJuly 2, 2013

Fiat Dealers to Get Their Own Dedicated Reps

Fiat is in the early stages of hiring its own team of factory reps. Officials say 50 additional staffers will be added to the team to serve Fiat dealers exclusively.

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NewsJuly 2, 2013

California Remains Hot Spot for Vehicle Theft, NICB Reports

California is listed again in the NICB’s annual ‘Hot Spots’ report, which shows that eight out of the Top 10 vehicle theft areas lie in the Golden State.

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NewsJuly 2, 2013

Japanese Brands Tops Edmunds.com's ‘Most American’ Cars List

Consumers looking for an American-made car might be surprised to learn that toping Edmunds.com’s list of ‘most American’ cars are Japanese brands Toyota and Honda.

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NewsJuly 2, 2013

Ala. Car Dealer Pleads Guilty to Violating Servicemembers Relief Act

An Alabama used-car dealer who failed to decrease an active-duty service member’s loan interest rate before repossessing his car pleaded guilty to violating the Servicemembers Relief Act.

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NewsJuly 2, 2013

June Used-Vehicle Sales Up, Transactions Prices Down, CNW Reports

Franchised dealers are expected to realize a 3.35 percent increase in used-vehicle sales, while independents should be up 3.82 percent, CNW said today.

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