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Used-vehicle inventories on franchised and independent lots dropped 24 percent in March compared to the year-ago period, and hit their lowest level since June 2005, according to CNW Marketing Research.
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The latest Retail Automotive Summary from CNW Marketing Research indicates that 2010 will turn out to be a big year for buy-here, pay-here (BHPH). The research firm is projecting sales of more than 2.3 million BHPH units before the year is out, topping last year’s total of 1.84 million.
Read More →Saab Cars North America has reached an agreement with OnStar to continue to offer OnStar subscription service to Saab customers under the automaker's new owner, Spyker Cars NV. The agreement begins with model year 2010 vehicles and applies to Saab vehicles sold in the United States.
Read More →U.S. new-vehicle sales for the first quarter 2010 were 15.7 percent higher than the year-ago period, but the market continues to be on a long road to recovery, according to the latest figures from JATO Dynamics, a provider of automotive data.
Read More →Dealer.com and DriverSide have formed an exclusive partnership and will launch a series of products for new- and used-car franchises, the first of which will add fixed-ops content to Dealer.com’s platform.
Read More →GMAC Financial Services announced that Jack Stack was appointed as an independent director to its board of directors, effective April 12. Stack will also serve on the audit committee and risk and compliance committee.
Read More →Westlake Financial Services expanded its partnership with National Creditors Connection Inc. (NCCI), a field contact service provider, after a successful three-month test program showed a 10- to 15-percent improvement in contact and payment rates of delinquent accounts.
Read More →Auto Financial Group, an online provider of residual-based financing products for credit unions, struck an agreement with Frankenmuth Credit Union, which will allow FCU to offer AFG’s DrivingSense as both a direct and an indirect lending option.
Read More →Nationwide Acceptance Corporation opened a new division to provide $1 million to $5 million lines of credit to buy-here, pay-here dealers in markets the company serves.
Read More →Edmunds.com is currently working with authorities, Web hosts and banks to put an end to a scam that victimizes online car shoppers.
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