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New York Attorney General Eric T. Schneiderman's crackdown on payment packing continues. Today, he announced a lawsuit against two Staten Island dealerships owned by SG Hylan Motors Corp.: Staten Island Honda and Staten Island Nissan.
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Poor retail sales were offset by a 3.1% increase in total F&I gross profit and a 40.5% increase in revenue at Sonic Automotive's EchoPark locations. While declining oil prices have hurt the company's performance in the Houston market, officials are confident the group will recover.
Read More →Organizers of the upcoming Industry Summit have announced that Old Republic Insured Automotive Services (ORIAS) will award two $500 American Express gift cards in a random drawing of attendees who register by this Friday, July 29.
Read More →At a field hearing held today, the Consumer Financial Protection Bureau outlined proposals its considering that would overhaul the debt-collection market. One of the proposals on the table is capping collector contact attempts.
Read More →Organizers of the upcoming Compliance Summit have announced that the $100 early-bird registration discount will expire at midnight this Friday, July 29. The event will be held Aug. 29–30, 2016, at Paris Las Vegas, as part of the annual Industry Summit.
Read More →A new study from Cox Automotive found that warranties and service contracts are keys to service retention. To realize that benefit, the study recommends that dealers allow car buyers to research service contracts before they step into their stores.
Read More →The Federal Trade Commission (FTC)'s six-year effort to collect on a $4.2 million judgement against a telemarketer of “extended auto warranties” came to a end last week. The telemarketer, which did business under the name My Car Solutions, led victims to believe it was affiliated with auto dealers and manufacturers.
Read More →Despite a competitive subprime auto finance environment, GM Financial continued gravitating toward a more prime-like credit profile during the second quarter.
Read More →Wells Fargo reported second quarter auto originations of $8.3 billion, a 7% gain from the first quarter of the year and a 2% gain from the year prior. Bank officials, however, reported higher delinquencies and net charge-offs.
Read More →Findings from a new IHS Automotive global consumer survey indicate that new advanced technologies and increased connectivity are driving consumer preferences as they consider new vehicles.
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