In what appears to be some good news for the Canadian vehicle finance industry, delinquencies on auto loans in Canada during the third quarter dipped “noticeably” compared to the same period of 2009 and were basically flat on a sequential basis, according to TransUnion’s analysis of auto lending and credit card trends. Auto borrower debt […] [Read More]

Asbury Automotive Group announced Thursday that it has officially closed its Greenville Automotive Group purchase. Moreover, in addition to completing a stock repurchase, the automotive group revealed it is planning to sell its heavy-truck business. [Read More]

Edmunds.com reported Wednesday that automakers spent marginally more on November incentives than they did during the previous month, but the average wasn’t nearly as much as what the manufacturers handed out a year ago. Site analysts discovered Wednesday that the average incentive in the U.S. was $2,470 per vehicle sold in November. They said that amount was […] [Read More]

The rising demand for used vehicles evidently isn’t restricted to private passenger units. Polk recently discovered the amount of used commercial vehicle registrations has hit a new record through the first nine months of the year. Firm analysts revealed Wednesday that the amount of used commercial vehicle (GVW Class 3-8) registrations totaled 524,500 units during […] [Read More]

J.D. Power and Associates made its final projection of November new-vehicle retail sales based on trends found earlier — that a strong selling pace would continue as the month closed. As a result, the firm’s analysts think November’s retail sales figure will come in at 10 million units For total sales, J.D. Power forecasted the seasonally adjusted annualized […] [Read More]

More positive news following General Motors’ highly successful initial public offering came out this week as the company announced a plan for full debt repayment by one of its subsidiaries. Officials revealed that GM Daewoo Auto & Technology will fully repay its Korean revolving credit facility this month. They indicated the facility had a drawn […] [Read More]

While two domestic models and a foreign unit already have been tapped for Urban Vehicle of the Year awards, only the finalists for Dealer of the Year honors have been announced so far for the 15th annual Urban Wheel Awards. The trio of franchise dealers up for Dealer of the Year recognition includes Jessie Armstead, […] [Read More]

On Friday, a free seminar under The Car Counselor’s TARP 2.0 Dealer Tech Series will be held at Columbus Fair Auto Auction in Ohio to help industry professionals prepare for the impact of developments in the federal government and more. [Read More]

The developments in electric-vehicle technology and the arrival of these cars to the market have grabbed headlines this year, but are consumers really gravitating toward these vehicles? According to a Kelly Blue Book Market Intelligence Study, not yet, apparently. The study found that just 7 percent of shoppers said they would be apt to put […] [Read More]

The underwriters in General Motors’ recent initial public offering have chosen to fully exercise their over-allotment options. This means the automaker’s IPO has now likely become one of the biggest in the world, bringing in more than $23 billion. The underwriters are purchasing 71.7 million shares of GM common stock and another 13 million shares of mandatory convertible […] [Read More]