P&A Online

June 16, 2010

Welcome to P&A eNews, your source for industry news and updates. P&A eNews is dedicated to the interests and concerns of providers and administrators of automotive finance and insurance products.

Be sure to visit P&A's website at www.pa-magazine.com regularly for the latest updates.

You can also join the P&A Linkedin Group here.

Subscribe to P&A Online's eMagazine FREE

Orlando Zayas Named Safe-Guard President

Safe-Guard Products International, LLC has named Orlando J. Zayas president of the company. Company founder Douglas A. Duncan will remain as chairman and CEO. As president of the company, Zayas will be responsible for expanding Safe-Guard’s direct business, OEM partnerships and product portfolio. “His experience leading a large warranty company will help us continue to grow ... Read More »

VisionMenu Releases 30 F&I Training Tutorials

FORT WAYNE, Ind. – VisionMenu, Inc. has released 30 training tutorials to enhance the already-featured product training tutorials for VisionMenu and VisionMenu Plus. They are a standard enhancement at no additional charge to the dealer. The new training includes finance and cash conversions, the F&I sales process, how to get more paper brought from lenders and ... Read More »

GM Certified Used Vehicles Offers 1.9% APR Financing

DETROIT — GM Certified Used Vehicles announced that GMAC Financial Services is offering well-qualified buyers nationwide APR financing as low as 1.9 percent on the Chevy Impala and Pontiac G6. Available now through June 30, 2010, GM Certified Used Vehicle’s new incentive program provides well-qualified buyers with GMAC 1.9 percent, 2.9 percent or 3.9 percent APR ... Read More »

GMAC Begins Financing of Recreation Vehicles

DETROIT – GMAC will begin accepting retail finance applications for new and used recreation vehicles from Thor Industries dealers in 14 high-volume states. GMAC was named the official preferred retail financial services provider for Thor in April. It will initially offer financing through RV dealers in Alabama, California, Colorado, Florida, Georgia, Maryland, North Carolina, Oregon, ... Read More »

62 in House Call for Auto Dealer Exemption in Finance Reform

WASHINGTON – A group of 62 House Democrats today urged party leaders to insist that auto dealers be exempted from regulation under a sweeping financial overhaul, The Detroit News reported. In December, the House voted to exempt the nation’s 17,000 auto dealers from oversight under a new Consumer Financial Protection Agency. The Senate included the ... Read More »

King Elected UAW President; Union Wants Payback from Concessions

DETROIT – In newly elected UAW President Bob King, the auto industry has a pragmatist who’s a seasoned organizer and advocate for global economic justice, Automotive News reported. King, 63, won election today after a long roll call vote at the UAW national convention. That vote was required after dissident Gary Walkowicz of Ford Motor Co.’s ... Read More »

GM Dealer Arbitration Statement Retracted by GOP Leader

WASHINGTON – House Minority Leader John Boehner retracted a statement that a rejected General Motors dealership in Ohio prevailed in arbitration while sticking to his affirmation that the store would be reinstated, reported Automotive News. Rep. Boehner, R-Ohio, issued a statement Monday that omitted the opening sentence of his earlier release that said he had been ... Read More »

With Sales Rising, Chrysler Will Not Shut Down Operations for Two Weeks this Summer

Chrysler Group LLC has ended a cost-saving requirement that all workers take the same two weeks off during the summer, a company spokeswoman said Tuesday. For the past two years, cash-starved Chrysler shut down all of its operations during the same two weeks in July that it closed U.S. and Canadian factories as it switched from ... Read More »

Electric-Car Maker Tesla to Set Up IPO

Tesla Motors Inc., the maker of electric sports cars that hasn’t posted a profit since its founding in 2003, will seek to sell 11.1 million shares at $14 to $16 each in its initial public offering, The Detroit News reported. The producer of the $109,000 electric Roadster will use the proceeds from the $178 million ... Read More »

Volkswagen Plans ‘Significantly’ Higher Operating Profit, Sales

Volkswagen AG, Europe’s largest carmaker, said operating profit and deliveries may rise “significantly” this year as demand increases in major markets and the euro’s decline against the dollar helps sales abroad, Bloomberg reported. Five-month sales of cars and sport-utility vehicles, as well as operating profit, “considerably outperformed expectations,” Wolfsburg, Germany-based Volkswagen said today in a ... Read More »

UAW Fund: $45 Billion For Investing

ANN ARBOR, Mich.—The United Auto Workers union is gathering in Detroit this week to elect a union president. But a new center of the labor power is emerging 45 miles to the west, reported The Wall Street Journal. Here, a newly independent fund born out of the remaking of the Detroit auto business three years ago ... Read More »

Proposed Bill Gets Tough on Auto Executives Over Safety

WASHINGTON — Auto executives would face the threat of imprisonment and millions of dollars in civil fines for misleading vehicle-safety regulators under legislation making its way through the U.S. Congress, reported The Wall Street Journal. The proposal from a Senate committee has emerged as one of the most contentious provisions of bills in the House ... Read More »

Cast Your Vote

Question 1: What % of your business is remitted electronically?

Question 2: Please rank the items below in order of importance to your business in 2010, starting with "1" for the highest:

Question 3: How often do you pay agent commissions?

View Past Survey Results Here