Ford Motor Co. announced Thursday it has successfully completed an amendment and extension of its revolving credit facility.  As a result of the transaction, executives explained Ford’s revolving lenders have agreed to extend the maturity of commitments totaling $9 billion to Nov. 30, 2015 from Nov. 30, 2013. Prior to the amendment, the OEM indicated […] [Read More]

The Nova Scotia Automobile Dealers Association recently brought TD Auto Finance in as a Select Supplier for the dealer group, signing TDAF to a three-year agreement. Under the deal, TDAF will help NSADA offer value-added programs and services to its dealers, while also funding training/education programs that will be offered to dealers and members of […] [Read More]

Though down more than 3 percentage points from an “exceptionally high” year-ago period, lease penetration rates remained steady in the near-20-percent range during February, thanks to relative stability in lease return volume and consistent incentives, according to J.D. Power and Associates. And while the fallout from the 2008 leasing drought influenced the market in February, […] [Read More]

Vincentric released its eighth annual Best Value in America awards Wednesday and highlighting the list of winners was Toyota, whose brands combined to take home 13 awards. The Toyota division was named the best value for passenger car brands, and the automaker’s three divisions were represented in 12 of the 39 individual vehicle awards. Four […] [Read More]

Given that a white paper from DMEautomotive recently discovered that younger consumers are steering more and more to other sources for their service needs, dealers can likely find some solace in what a different study suggested about customer satisfaction with service facilities. Consumers turning to the dealer to take care of their service needs are […] [Read More]

Mercedes-Benz USA revealed Wednesday it has promoted one of its own to the newly created position of senior vice president of sales.  Tapped for the position is Michael Slagter, former vice president of sales for MBUSA. The promotion is effective immediately, and Slagter will report to MBUSA president and chief executive officer Steve Cannon.   [Read More]

Polk discovered on Wednesday that 2011 used commercial vehicle registrations reached a record level for a calendar year, ending up at 791,288 units. The total surpassed the previous record of 671,887 units registered in 2010, and the rise represented a 17.8-percent increase in year-over-year registrations. Polk’s analysis of new and used commercial vehicle registrations (GVW […] [Read More]

In a report from CBS affiliate WBZ-TV from Boston, online car shoppers have reason to be wary.  What WBZ reported as “thousands of used-car buyers,” may be walking right into a scam, which the FBI told the station could be the work of an international organized crime ring. And the scammers might be working their […] [Read More]

College basketball teams like Kentucky, Michigan State, North Carolina and Syracuse might be among the favorites to celebrate a national championship, but the NCAA Tournament winner won’t be the only one “cutting down the nets,” so to speak, on April 2. As the most celebrated three weeks in college hoops is set to get underway, […] [Read More]

Consumer Financial Protection Bureau director Richard Cordray recently reiterated a head-turning fact: currently 30 million Americans are subject to some form of third-party debt collectors. And how these collectors, as well as repo agents and recovery departments, attempt to get some of that collateral and money back is about to be even more regulated. Cordray […] [Read More]