P&A Online
January 12, 2011
Welcome to P&A Online, a monthly eMagazine dedicated to the interests and concerns of providers and administrators of automotive finance and insurance products.
P&A Online is your source for industry news and updates as well as original feature articles to keep you well-informed of best practices and trends.
Be sure to visit P&A's website at www.pa-magazine.com regularly for the latest updates.
Featured Articles
Fear: the Greatest Destroyer of Business
Fear is the greatest enemy you’ll ever encounter in business. It’s especially prevalent in sales situations. Few business professionals recognize that fear appears on both sides of most business or selling situations. The level of success you will achieve in your career depends on your understanding of and mastery over fear. Most salespeople have fears of ... Read More »
Full Speed Ahead: Pros and Cons of Red Flags Checks
Menu Providers’ Perspectives! Full speed ahead: The Red Flags Rule is in enforcement! Yes, that’s right, the day has finally arrived! And that means the time has come to comply, comply, comply! As of Jan. 1, the FTC not only has the power to go after banks, credit unions and captive lenders that violate the rule, but ... Read More »
A View From The Top
Are You Getting the Results You Want with Your E-Contracting Website?
There has been a buzz in the marketplace over the last few years about e-contracting and what transforming your business as an administrator/provider would do for your bottom line. The companies that were early adopters in developing e-contracting capabilities on their website did so in part to provide them with a competitive advantage. A number of aftermarket administrators ... Read More »
Guest Editorial
An Ounce of Prevention Is Worth a Pound of Chargeback
Let’s start with a hypothetical story of a typical day in the life of an F&I manager. He’s one delivery short of glory at month’s end when a sales associate TOs a hot one: full MSRP and all the options on a $60,000 black granite Suburban, no trade. Wants to finance the car through the ... Read More »
Guest Blog
The Most Common Kinds of Mistakes
It has been said, “I never make mistakes! I thought I did once, but I was mistaken.” Let’s face it: we all make mistakes. There is no such thing as a perfect administrator, dealer, inspector or even publishing company for that matter. Well … we’re pretty close here at P&A (OK, OK, we make mistakes, ... Read More »
P&A Industry News
GM Again Sees Need for GMAC
DETROIT — General Motors Co. is revisiting the idea of buying back part of its former GMAC auto loan business, half a year after it acquired a subprime loan company to help fill the role of an in-house lender, according to three people familiar with the situation.
GM executives are weighing the idea of a new ... Read More »
Mercedes-Benz Financial Completes First Phase of eStrategy Initiative
FARMINGTON HILLS — Mercedes-Benz Financial Services is nearing completion of the first stage of its “eStrategy” initiative, as company officials said they expect the percentage of dealers eligible to integrate a full electronic contract data validation system into their dealer management system (DMS) to reach 100 percent in the first quarter of 2011.
The company’s eStrategy ... Read More »
Compli, Crowe Horwath LLP Launch Accounting and Tax e-Counsel Service
PORTLAND — Compli, a provider of human resources and compliance management solutions, announced that Crowe Horwath LLP will provide advice through Compli’s Accounting and Tax e-Counsel service.
Compli’s Accounting and Tax e-Counsel is a service provided to all Compli customers, offering an easy and efficient way to receive guidance from leading professionals on critical business issues. ... Read More »
Toyota Sued By Seven More Insurers Over Acceleration Claims
LOS ANGELES - Seven automobile insurance firms have followed Allstate Insurance Co. in suing Toyota Motor Corp. to recover money they paid in claims for car crashes blamed on unintended acceleration of Toyota vehicles.
The insurers’ court action has opened a new front in U.S. civil litigation mounting against the Japanese automaker as the company battles to ... Read More »
Automotive Industry News
Renault to File Spy Complaint Thursday
PARIS — French auto maker Renault SA said Wednesday it plans to file a complaint Thursday before the criminal court in Paris in a case related to suspected industrial espionage, as two unions said they will press the company’s management to say more on the spying scandal.
A Renault spokeswoman said she couldn’t comment further on ... Read More »
Treasury Optimistic About GM Share Price
DETROIT — The recent surge in General Motors Co.’s stock price bodes well for the company’s goal to cut ties with the U.S. government, said Ron Bloom, U.S. Treasury’s point person on GM.
Mr. Bloom said in an interview Tuesday that the Obama administration is pleased with the auto maker’s share performance and “serious” about selling the remainder ... Read More »
A Resurgent Chrysler Says It Is Here to Stay
DETROIT — A year ago, Chrysler didn’t have a single new vehicle to display at its hometown auto show, and rival executives were taking bets on how long the smallest and most troubled of Detroit’s three automakers would last.
Now it is looking like the obituaries were premature. After stabilizing sales in the United States last year, ... Read More »
Fiat Raises Chrysler Stake, Readies for IPO
DETROIT – Fiat lifted its stake in Chrysler to 25 percent today as CEO Sergio Marchionne prepares for an upcoming round of meetings with bankers to refinance Chrysler’s debt and to ready an initial public offering of shares.
Fiat said in a statement that it had raised its ownership in Chrysler to 25 percent from 20 ... Read More »
DealerTrack to Acquire triVIN Holdings
LAKE SUCCESS - DealerTrack Holdings, Inc. announced today that it has signed an agreement to acquire triVIN Holdings, Inc., a leading provider of automobile title management services to lenders and vehicle registration services to automobile dealers. DealerTrack will pay approximately $131 million, net of any cash acquired, and the transaction will be financed with existing cash.
The acquisition is ... Read More »
Volkswagen Eyes 5% Sales Growth in 2011 After Record Deliveries
Volkswagen AG forecast sales worldwide will increase 5 percent this year, after reporting record deliveries in 2010, fueled by growth in China and other emerging economies.
Europe’s largest automaker sold 7.14 million cars and sport-utility vehicles last year, an increase of 14 percent from 2010, sales chief Christian Klingler told reporters at the Detroit auto show today. VW ... Read More »
BMW, Mercedes, Audi Forecast Record Sales This Year on U.S., China Demand
Bayerische Motoren Werke AG, Daimler AG and Audi AG, the world’s three largest makers of luxury cars, forecast record sales this year driven by China and the U.S.
BMW, the maker of Mini and Rolls-Royce models, said today deliveries will increase beyond 1.5 million units this year from 1.46 million in 2010. Volkswagen AG’s Audi unit is aiming ... Read More »
Toyota Plans Higher Output, Not Spending as Volkswagen Aims for Top Spot
Toyota Motor Corp. plans to produce more vehicles without increasing capital investments as Volkswagen AG attempts to surpass it as the world’s largest carmaker by 2018.
“We are challenging ourselves to produce more even as we restrain capital spending,” President Akio Toyoda said yesterday at the North American International Auto Show in Detroit.
The carmaker plans to keep annual ... Read More »
P&A Featured Companies
