At the same time the finance company’s top boss secured more shares, a partnership of private investment firms delivered a $1 billion capital injection into Santander Holdings USA and Santander Consumer USA late last week. In return for these funds, Santander is giving Sponsor Auto Finance Holdings Series an aggregate number of shares of SCUSA […] [Read More]

After a strong September, J.D. Power and Associates contends this month’s new-vehicle retail sales remain stable, sitting above a 10-million unit level. October new-vehicle retail sales are projected to come in at 828,300 units, which represents a seasonally adjusted annualized rate of 10.5 million units. J.D. Power arrived at this estimation by gathering real-time transaction […] [Read More]

Facility renovation is certainly a hot topic among dealerships these days, and it’s often found that dealership expansion can prove fruitful. That said, the American International Automobile Dealers Association is urging dealers to get their ducks in a row in terms of fully understanding real estate acquisition and construction. [Read More]

Following months of production challenges in the aftermath of the devastation in the automaker’s home of Japan, Honda Canada Manufacturing said it is back to full production capacity, meaning dealers should soon see inventory return to more normal levels, including the supply of all-new 2012 Civics. Almost the entirety (about 95 percent) of Honda’s Canadian […] [Read More]

Carfinco Income Fund took a few big steps this week as part of its process to transition from being an income trust to becoming a new corporation. Carfinco revealed Wednesday that it has struck an arrangement agreement with the new corporation — to be named Carfinco Financial Group — which is one of the required […] [Read More]

A full day has not even passed since the announcement of AutoCheck’s return, and Warren Barnard has already been fielding calls expressing words of encouragement. Amid a disagreement that dates back to June, the Used Car Dealers Association of Ontario was able to come to a temporary accord about a week ago with the Insurance […] [Read More]

Automakers, dealers and service providers are looking to connect with consumers on mobile devices for good reason. Data from the comScore MobiLens service showed 72.2 million Americans accessed social networking sites or blogs on their mobile device in August, an increase of 37 percent in the past year. The recent study also provided new insights […] [Read More]

The National Automobile Dealers Association expected some backlash when 66 U.S. House members urged the chairman of the Committee of Appropriations to craft legislation that would put CAFE standards solely under the jurisdiction of the National Highway Traffic Safety Administration. A retort from a group of environmentalists came the same day. The chief executive officers […] [Read More]

Independent auto consultant Glenn Mercer’s study will comb through confidential interviews with dealers, lawyers, accountants and automakers, among others. Part of the process will be to reach out to outside industries — like the restaurant and hotel businesses — to seek their input. All of this will be done to address a point of “frustration” […] [Read More]

Carfax revealed Thursday that its mascot Car Fox has been voted “Most Irritating Animated Actor” by The Consumerist — a blog owned by the Consumers Union that highlights shopper opinions and experiences. Through the company’s “Show Me the Carfax” campaign, its Car Fox mascot has become a household name, showing up on televisions and in […] [Read More]