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CarMax Inc. celebrated the grand opening of its first store in New Hampshire, located at 300 Keller Street in Manchester.

The Federal Trade Commission has charged nine Los Angeles-area auto dealerships and their owners with using a wide range of deceptive and unfair sales and financing practices.

CU Direct Connect (CUDC) achieved record indirect auto funding of more than $2.61 billion in 2017.
Funding increased by 11.1 percent for the year, while shareholder book value increased by 11.2 percent during 2017.

Santander Holdings USA Inc. announced results as of the early participation date for its previously announced cash tender offer (for up to $400 million in aggregate principal amount of its 3.45% Senior Notes due 2018) and 2.7% Senior Notes due 2019.  The offer is made upon the terms and subject to the conditions set forth in the offer to purchase dated Feb.1.The early participation date for the offer was Feb. 14. The early participation date was not extended.  

 MetroGistics has been selected by the National Independent Automobile Dealers Association as a Bronze-level National Corporate Partner.

Auto finance origination volume reached the highest level ever observed by Federal Reserve Bank of New York last year.

Nicholas Financial Inc. announced that Chad Steinorth will be rejoining the company as vice president and interim chief financial officer, effective March 1.

Auto Finance Growth Slows

February 22, 2018

Auto finance saw the lowest annual growth rate in the fourth quarter since the second quarter of 2012, according to TransUnion.Auto finance balances grew 5.5 percent between the fourth quarter of 2016 and the fourth quarter of 2017.

Carvana Co. has opened a Carvana Curbside operation in Birmingham, Ala. Carvana Curbside is a smaller format purchase fulfillment concept.

America’s Car-Mart Inc. reported net income of $2.8 million for the quarter ended Jan. 21st.

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