The NADAguides Car of the Month for May was announced this week and taking the honors is the 2011 Ford Fiesta. NADAguides lauded the car for high-quality engineering throughout the vehicle, its driving comfort, fuel-efficiency and overall values. The company also found the vehicle’s features to be “above and beyond what is expected in its class.” […] [Read More]

Geared especially for National Independent Automobile Dealers Association members, NADA Retirement Administrators rolled out a number of new products and enhanced services this week. The enhancements include: —Sub20 Plan. —Online investment guidance. —Executive and deferred compensation plan. “As the preferred retirement plan provider for the National Independent Automobile Dealers Association, we are pleased to be […] [Read More]

Reflecting market adjustments and noticeable change in domestic vehicle leasing volume, LeaseTrader.com declared more Americans are now leasing domestic units compared with pre-recession activity. “Prior to 2008, domestic vehicle leases on LeaseTrader.com were one-sided with only the SUV/truck category representing any significant percentage of total marketplace inventory,” explained Sergio Stiberman, chief executive officer and founder […] [Read More]

Incentive spending hit a five-and-a-half-year low during April, which points to the extreme likelihood that automakers are stockpiling their new vehicles for an impending supply dearth, according to Edmunds.com. Car companies spent an average of $2,118 per new vehicle sold on incentives during the month, the site estimated. This marks a 19.6-percent year-over-year slide and […] [Read More]

J.D. Byrider announced Tuesday that it has been acquired by private equity firm Altamont Capital Partners. Altamont plans to provide Byrider with strategic direction, experienced resources and additional capital to support its growth and franchise expansion initiatives. The purchase of Byrider is Altamont’s first investment from its $500 million fund, which closed late last year. The firm said […] [Read More]

Not long after the automaker declared it was paying back government bailouts and posted quarterly net income for the first time since bankruptcy, Chrysler Group chief executive officer Sergio Marchionne had more positive financial news to share Tuesday. Standard & Poor’s issued a preliminary B+ credit rating for Chrysler. Also coming Tuesday, the automaker learned Moody’s issued […] [Read More]

Even in the midst of rising fuel costs and their impact on purchasing decisions, new-vehicle transaction prices last month reached the highest level for any April on record, according to TrueCar.com. The site attributes this surge to a trio of factors, one of which was plunging incentives. And while this combination of higher transaction prices and […] [Read More]

Innovative Funding Services and LeasePlan USA announced they have formed a partnership.  IFS specializes in providing fleet customers with the opportunity to purchase vehicles and offers a variety of financing options through its lender partnerships, as well as commercial loan possibilities. Meanwhile, LeasePlan provides fleet and vehicle management solutions. It manages 1.3 million vehicles throughout the world. […] [Read More]

Franchise dealers enjoyed their strongest April for used-car sales in five years, according to CNW Research. Meanwhile, independent dealers saw an increase greater than 17 percent on a year-over-year basis. Specifically, franchise dealers moved 1.32 million used vehicles, which is 10.7-percent stronger than April 2010 figures, CNW’s Art Spinella reported. As for  independent dealers, their used sales reached 1.33 million units, […] [Read More]

Potential legislation that could significantly change how Illinois repossession agents operate continues to make its way through the state’s General Assembly. According to information on the state government’s website, Illinois Senate bill No. 1306, known as the Collateral Recovery Act, is already on the docket within the House’s Judiciary Civil Law Committee for more possible […] [Read More]