Big 3 Boost CPO Sales

Big 3 Boost CPO Sales by More Than 15%
WOODCLIFF LAKE, N.J. — Domestic-brand dealers increased their April certified pre-owned sales by more than 15 percent, pushing their year-to-date total above 300,000 units, according to Autodata Corp.

The Big 3 sold a collective 78,864 CPO units for the month, beating April 2014 figures by 15.5 percent, Autodata noted.
Financial Solutions

Ally Replaces Captive for Mitsubishi

Ally will become the preferred financing source for Mitsubishi Motors in the U.S., replacing the brand's captive finance company, Mitsubishi Motors Credit of America Inc.

The agreement broadens the existing relationship between Ally and MMNA, continuing to make Ally's full suite of automotive financial products and services available to all Mitsubishi dealers and their customers.
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Ally to Replace Mitsubishi's Captive Finance Arm

Ally to Replace Mitsubishi's Captive Finance Arm
Ally Financial and Mitsubishi Motors North America have announced that Ally will become the preferred financing source for Mitsubishi Motors in the United States, replacing the brand's captive finance company.

Financial Solutions

Ally to Replace Mitsubishi's Captive Finance Arm

Ally to Replace Mitsubishi's Captive Finance Arm
Ally Financial and Mitsubishi Motors North America have announced that Ally will become the preferred financing source for Mitsubishi Motors in the United States, replacing the brand's captive finance company.

Financial Solutions

GM Financial Reports Results

General Motors Financial Co. announced net income of $150 million for the quarter ended March 31, compared to $145 million for the quarter ended March 31, 2014.

Consumer loan originations were $4.1 billion for the quarter, compared to $4 billion for the quarter ended Dec. 31, 2014, and $3.4 billion for the quarter ended March 31, 2014.
Financial Solutions

GM Financial Reports Results

General Motors Financial Co. announced net income of $150 million for the quarter ended March 31, compared to $145 million for the quarter ended March 31, 2014.

Consumer loan originations were $4.1 billion for the quarter, compared to $4 billion for the quarter ended Dec. 31, 2014, and $3.4 billion for the quarter ended March 31, 2014.
Financial Solutions

Kia and Hyundai See Price Gains

The analysts at Kelley Blue Book report the estimated average transaction price (ATP) for light vehicles in the United States was $33,299 in February.

New-car prices have dropped $208 (down 0.6 percent) from January, but have increased by $1,145 (up 3.6 percent) from February 2014.

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In Car Tech Impacting Dependability

J.D. Power: In-Car Tech Impacting Dependability, Brand Loyalty
Bluetooth connectivity and voice recognition issues are the most frequently reported problems after three years of ownership, according to J.D. Power's 2015 U.S. Vehicle Dependability Study.
Sell Auto Notes

NY State Dept of Financial Services Releases Debt Collection FAQ

NY State Dept of Financial Services Releases Debt Collection FAQ
The New York Superintendent of Financial Services has released a 16-question FAQ to aid debt collectors, including third-party debt collectors and debt buyers, in adhering to 23 NYCRR 1, a regulation that reforms New York's debt collection practices. Industry groups today are weighing in on the impact of the clarifications.
Debt Buyer

State Calls Buy Here Pay Here Practices Predatory

State Calls Buy-Here, Pay-Here Practices Predatory
Two Charlotte, N.C., used-car dealerships must repay customers and change practices after settling a lawsuit by state and federal regulators.
The lawsuit was filed in January 2014 by the North Carolina attorney general, the Civil Rights Division of the U.S. Department of Justice and the U.S. attorney for the western district of North Carolina against Auto Fare, Inc., Southeastern Auto Corp. and their owner, Zuhdi A. Saadeh.

State Calls Buy Here Pay Here Practices Predatory

State Calls Buy-Here, Pay-Here Practices Predatory
Two Charlotte, N.C., used-car dealerships must repay customers and change practices after settling a lawsuit by state and federal regulators.
The lawsuit was filed in January 2014 by the North Carolina attorney general, the Civil Rights Division of the U.S. Department of Justice and the U.S. attorney for the western district of North Carolina against Auto Fare, Inc., Southeastern Auto Corp. and their owner, Zuhdi A. Saadeh.

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