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Toyota Motor Credit will offer loans, leases, and F&I products to Mazda’s U.S. dealers and customers, replacing the JPMorgan Chase-backed Mazda Capital Services as the factory’s captive finance company.
Volvo dealers will soon be allowed to pull new vehicles off their lots and into the Care by Volvo sub service, a significant change that leads a list of reported revisions to the embattled program.
An Ally/Harris survey of U.S. consumers found only 21% had purchased a vehicle service contract, propelling their average five-year maintenance and repair costs to nearly $2,000.
Six operators of a nonexistent auto finance company have been sentenced to federal prison or probation for fraudulently obtaining $1.7 million worth of loans from banks and credit unions.
Former dealership manager and current EFG Companies executive Melissa Burrow has published ‘Chasing Bentleys: The Power of Accountability in Achieving Your Goals.’
Hoover Mitsubishi’s Mark Hoover has sued two former employees accused of doctoring auto loan applications, a scheme that led to an FBI raid and the shuttering of the dealership.
The four-acre, 93,000-square-foot Beverly Hills BMW has been sold for $70 million, an amount billed as the highest ever paid to acquire a Los Angeles auto dealership.
Matching payments program provider SMART Payment Plan is seeking agents to represent the company in 30 new U.S. markets.
Private equity firm Abry Partners has agreed to acquire F&I products and reinsurance programs provider Portfolio from Capital Z Partners.
Members of Generation Z reported visiting an average of 3.8 dealerships on their car-buying journey in an Urban Science poll, which found the majority of U.S. consumers still lean on dealerships for critical information — and test-drives.
Steven E. Starks, president of the Utah Jazz and LHM Sports & Entertainment, has been named CEO of the Larry H. Miller Group of Companies.
Former Assurant executive Adam Lamnin and Ely Capital CEO Hope Taitz have joined National Automotive Experts and NWAN’s board of advisors.
The U.S. Department of Justice announced Nissan Motor Acceptance will pay $3 million to settle charges that it unlawfully repossessed 113 vehicles belonging to active military members.
The average interest rate for a U.S. new-vehicle loan fell below 6% for the first time all year as automakers and dealers extended model-year selldown promotions.
July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
More than 160 dealers, agents, and industry executives took part in the inaugural West Coast Compliance Summit, one of three concurrent events featured at Industry Summit 2016. And more than 80 of them successfully completed the event’s compliance certification component.
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