While data from Equifax showed the total amount of debt consumers absorbed in the third quarter dipped year-over-year, borrowing to make a vehicle purchase gained steam during the time span. Equifax indicated that across the country, auto bank and auto finance debt rose 7.1 percent during the third quarter compared with the same year ago. […] [Read More]

With the deadline approaching at the end of the week to consummate the previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group, Hertz Global Holdings reportedly is making moves to gain federal approval. A Bloomberg report on Monday indicated Hertz agreed to sell more airport locations, […] [Read More]

What dealers have known as DealerTrack Holdings not only reported its third-quarter financial results last week, but the company also changed its name. Going forward, the company is now known as Dealertrack Technologies. As far as its third-quarter performance for the span that ended Sept. 30, the company first reported its GAAP results, which included: […] [Read More]

World Omni Financial Corp. revealed Wednesday it has named a new president. Tapped for the position is Dan Chait, who joined World Omni in 2002 after holding senior-level positions at US Airways, AutoNation and UniCaptial Corp. Chait, who most recently served as senior vice president at World Omni, will be replacing Frank Armstrong, who has […] [Read More]

Women are now the fastest growing segment of new- and used-car buyers. Typically, however, women car buyers don’t lease nearly as much as men.    The consensus among dealers is that women buy new and used cars, but they infrequently consider leasing. When considering “Should I buy or lease?” many women are fueled by the […] [Read More]

The most recent RDN Monthly Analytics Update indicated September recovery volumes increased 4 percentage points from August levels. But, the September reading still settled 4 points below year-ago levels. RDN indicated September recovery orders climbed 6 percentage points from the previous month and also increased 5 percentage points year-over-year. The RDN Recovery Market Trend Summary […] [Read More]

Whether it's associated with a large, public dealer group or a single buy-here, pay-here lot, matching vehicles up with financing remains one of the biggest challenges managers still face. Recently, sister publiciation SubPrime Auto Finance News found the top boss from Penske Automotive Group and the current president of the National Independent Automobile Dealers Association […] [Read More]

For the second time, Hertz Global Holdings extended the expiration date of its previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group. Now the deadline is 5 p.m. ET next Friday. The tender offer was previously scheduled to expire at 5 p.m. ET on Monday. Officials […] [Read More]

WALKAWAY has filled its newly created position of manager of dealer services. In a move that became effective today, earning the promotion to the role was Dana Senin. The company — which builds, markets and administers credit protection products for the retail auto business as well as the recreational vehicle industry — also announced that […] [Read More]

The recent acquisition of Ally Credit Canada by Royal Bank of Canada triggered a question during a quarterly conference call Wednesday: Why didn’t General Motors Financial make a run at the financing arm since it already has lending and leasing activity in the country? GM Financial president and chief executive officer Dan Berce addressed the […] [Read More]