Arra Finance has agreed to acquire Crescent Bank’s automotive division, quadrupling origination volume and adding about 180 employees, $1 billion in assets and $815 million in existing auto loans. +
President Donald Trump signed three resolutions revoking waivers that allowed California and 11 other states to set emissions standards and restrict sales of gas-powered vehicles. +
Lithia Motors has acquired Mercedes-Benz of Jackson (Miss.) and Mercedes-Benz of Collier (Tenn.) from the Higginbotham family in a deal brokered by the Presidio Group. +
Dealertrack’s Credit Availability Index maintained a steady upward course in May, improving to 96.7, a modest month-over-month increase and a nearly three-year high. +
The percentage of borrowers more than 60 days past due on their auto loans increased by five basis points year-over-year to 1.38%, according to the latest quarterly report from TransUnion. +
Experian reports the average amount financed for a new vehicle purchase in Q1 was $41,720, with an average monthly payment of $745, up from $40,610 and $737 in the prior-year quarter. +
Regulators will no longer pursue discriminatory pricing charges against three Texas dealerships owned by Asbury Automotive following an executive order challenging the legal theory of disparate impact. +
Connected vehicles are treasure troves of nonpublic personal information. Attorney and Mosaic Compliance Services CEO Jim Ganther explains how dealers can protect customers and make privacy a competitive advantage.
Florida’s Atlantic Coast Automotive Group has acquired all three of Lithia Motors’ West Virginia stores, entering a sixth state in a move described as a “key strategic divestiture” by the broker. +
The U.S. Senate approved a measure that revokes an EPA waiver that would have allowed a group of states, led by California, to ban the sale of light duty gas vehicles and gas/electric hybrids. +
