This Week’s Most-Read Stories on AutoRemarketing.com
CARY, N.C. — Grabbing the most attention among our readers this week on AutoRemarketing.com was a story about the latest development in legislation that has been a hot topic in the auto industry, as of late, especially for dealers.
The No. 1 most-read story on our site dealt with the Consumer Protection Agency legislation and how its latest development affects dealers, particular the buy-here, pay-here set, which — unlike other dealers — will fall under the agency's oversight.
The complete top five is as follows:
1. BHPH Dealers Remain Target for Consumer Protection Agency Oversight
WASHINGTON, D.C. — In an early morning vote Friday, House and Senate leaders decided to exempt dealers from consumer financial protection agency oversight. While this leaves many dealers relieved, buy-here, pay-here dealers remain under the gun. They are not exempt. The combined legislation …
2. Santander Quietly Bolsters U.S. Auto Loan Market Share
DALLAS — Santander Consumer USA is quickly ramping up its market penetration in the U.S., especially in used-vehicle auto loans. In addition to originations, the company has been quietly buying up auto loan portfolios and making servicing deals and origination deals with such companies as Chrysler, Triad Financial, CarMax, HSBC and in the most recent multibillion-dollar deal …
3. Will GM Partner with Chase or Wells Fargo to Increase Sales?
DETROIT — While rumors have recently circulated that General Motors is considering taking back a majority stake in GMAC, that no longer appears to be the case. Auto Remarketing confirmed Thursday that the automaker is looking …
4. Webb: Economic Conditions Send Mixed Message to Industry
ATLANTA — Manheim's Tom Webb picked up on a Gallup poll that examined where the bulk of modest gains in national retail sales have derived this year. Webb called the poll findings "somewhat perturbing from a used-vehicle perspective." The poll suggested …
5. Ford Reveals Another $4 Billion in Debt Reduction
DEARBORN, Mich. — Strong sales performances and execution of other company strategies evidently are doing plenty to help Ford's balance sheet. The automaker revealed on Wednesday that it's reducing its debt by more than $4 billion. Management explained much of this newest reduction stems from …
Editor's Note: For more, stay tuned to the Auto Remarketing Today daily e-newsletter for the latest breaking news in the industry. Also, visit our sister publication, SubPrime Auto Finance News, to learn more about the trend and challenges facing the auto finance industry.