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Chase Auto Finance Taps New CEO

Chase Auto Finance appointed a new chief executive officer on Monday, succeeding Marc Sheinbaum who has asked to pursue other opportunities. Moving into the role is Thasunda Brown Duckett who previously was part of Chase’s consumer and community banking division. Duckett also served as national retail sales executive for Chase’s Mortgage Banking division. “Thasunda has … Continue reading

  • The results of a recent survey showed consumers want more connectivity in their cars, as they look to plug in their smartphones and mobile devices to download applications. (more…)
  • Ten technologies were nominated by Green Car Journal's Green Car Technology Award, which will be given out at the Washington Auto Show at the end of the month. The auto show is on January 31, and the winner of the coveted Green Technology Award will be announced on the second day. (more…)
  • Porsche recently announced that it sold 35,043 vehicles in the United States in 2012, up from 29,023 in 2011. "2012 was truly a momentous year for Porsche in the U.S.," said Detlev von Platen, president and CEO, Porsche Cars North America. "Not only did we launch the all-new, seventh-generation 911, the completely redesigned Boxster and our first diesel model, we set records in nearly all aspects of our business (more…)
  • The last-minute compromise that kept the country from going off the so-called fiscal cliff is good news for the U.S. economy and great news for the auto industry, for as the old adage goes: when the economy catches cold the auto industry gets pneumonia. (more…)
  • Strong sales of larger sedans and crossovers propelled Audi to a U.S. sales record in 2012 and Volkswagen division, aided by a full year of selling the redesigned Passat and Beetle, is on pace to reach its own milestone in 2013. (more…)
  • Subaru of America said it posted its fourth consecutive record year of sales and predicted that sales in 2013 will reach another high. Subaru sold 336,441 vehicles last year, up 26 percent over 2011. December sales rose 9 percent to 36,653 units, making it the best month in Subaru history, the company said its monthly sales report today. (more…)
  • J.D. Power and Associates discovered the level of new-vehicle contracts lasting 72 months or longer softened a bit last month, but the penetration still landed higher than May of last year. According to J.D. Power's May Industry Health Review, the penetration of 72-month financing terms came in at 27.9 percent, which was 4.2 percent lower than April's reading of 29.2 percent. However, the May reading ended up 6.9 percent higher than the year-ago mark of 26.1 percent. (more…)
  • San Diego-based LEAP Financial has announced that its lack of capital is forcing it to stop originating leases. The company that makes its living by offering subprime vehicle loans to help drivers either hold on to their present vehicle, or purchase or lease a new one. (more…)
  • Despite the annual sales rate dipping from 14.42 million in April to 13.78 million, May retail sales were 25.7 percent higher than May 2011, according to Autodata Corp. Leading the way were General Motors, Ford and Toyota, with each carmaker eclipsing the 200,000-unit mark last month. (more…)
  • Ford Motor Co. is blaming its underestimation of U.S. demand for the 1.4 points its market share dropped in the U.S. in the first quarter of this year. The American automaker also says that it has learned its lesson and has already ordered an increase to its production. (more…)
  • Some of the steam seems to be out of the new-car market this month. As of May 18, sales look to be up around 6 percent vs. the year-ago period and floor traffic continues to increase, but closing ratios slowed dramatically. Based on data from the first half of May, the industry is on track to sell 1.125 million units, down about 50,000 units from April. The industry’s true delivery rate is currently tracking in the mid- to high-13 million range. “For some mass-market brands, visitors to showrooms continue to be strong,” CNW’s Art Spinella wrote in his May retail automotive summary. “Chrysler, Toyota, Nissan are in the double-digits, while GM, Ford, Honda and virtually all of the second-tier Asian imports are lagging or barely ahead of their year-ago rates. via F&I Magazine.
  • When selecting a dealership from which to buy, most consumers visit Edmunds.com to view the vehicle information sites dealer reviews, according to results of a study conducted by Digital Air Strike. The online and social media agency bills its “2012 Automotive Dealership Social Media and Online Reputation Study” as the first automotive-specific study to analyze the use of social media and review sites by car buyers during the dealership selection process. The study also analyzed how dealers engage consumers on these sites. According to the study, an estimated 22 percent of surveyed car buyers used Edmunds.com to help them select a car dealer, making it the top destination among all independent review sites. The study also found that 68 percent of car shoppers said that dealership reviews affected which dealership they visited when shopping for a vehicle. via F&I Magazine.
  • The auto finance industry is surging after a third quarter in which all lending segments increased their originations for the high-risk tiers. via F&I Magazine.
  • The auto finance marketplace is heating up, but executives from six top finance sources said there’s more at play than simply a race for market share. via: F&I Magazine.
  • New-vehicle sales this month have been strong month-to-date, with the selling rate outperforming January's, reported J.D. Power and Associates. via: F&I Magazine.
  • Chrysler Leads Nissan, GM Topping January U.S. Sales Estimates via BusinessWeek.