DEARBORN, Mich. — Strong sales performances and execution of other company strategies evidently are doing plenty to help Ford's balance sheet. The automaker revealed on Wednesday that it's reducing its debt by more than $4 billion. Management explained much of this newest reduction stems from retiring debt owed to the UAW Retiree Medical Benefits Trust ahead […] [Read More]

SANTA MONICA, Calif. — The InsideLine.com website from Edmunds.com released its 2010 Readers' Most Wanted Awards on Tuesday, and taking top honors in more than half the segments were Ford vehicles. "Our readers seem to be very impressed with the products Ford has out, winning eight of the 15 awards," said Dan Pund, senior editor of Edmunds' […] [Read More]

ELIZABETH, N.J. — A simple Google search can result in hundreds of stories of repossessions gone wrong — from repossessors impersonating police to repossessors getting shot and killed. On Dec. 9, 2009, a badge-wearing repo man was arrested and charged with impersonating a police officer after dragging and injuring a woman whose vehicle he was attempting to […] [Read More]

RALEIGH, N.C. — Consolidated Asset Recovery Systems has scheduled a free Webinar to share the strategies and technological platforms the company believes has streamlined the recovery process. Co-founder and senior vice president Terry Groves plans to discuss how CARS can provide a suite of services and technology to enable lending organizations to achieve the highest repossession […] [Read More]

IRVINE, Calif. — In offering a potential explanation for why a quartet of Chrysler Group vehicles made the top five list for shopping activity growth on Kelley Blue Book's Kbb.com, site editors invoked a bit of Beatles-related humor in this week's Hot Car Report. "When (John) Lennon and (Paul) McCartney wrote the lyric 'Money can't buy me love,' they proved […] [Read More]

DALLAS — Santander Consumer USA is quickly ramping up its market penetration in the U.S., especially in used-vehicle auto loans. In addition to originations, the company has been quietly buying up auto loan portfolios and making servicing deals and origination deals with such companies as Chrysler, Triad Financial, CarMax, HSBC and in the most recent multibillion-dollar […] [Read More]

DETROIT — While rumors have recently circulated that General Motors is considering taking back a majority stake in GMAC, that no longer appears to be the case. Auto Remarketing confirmed Thursday that the automaker is looking to strike new lender relationships to drive sales and help dealers and apparently, Chase and Wells Fargo are two key […] [Read More]

CARY, N.C. — Dealers and remarketing management personnel went to AutoRemarketing.com this week to learn more about just how much social media websites are affecting the industry. Recent CNW Research analysis delved further into the discussion about how Facebook and Twitter are integrated into used-vehicle sales. AutoRemarketing.com shared the 2010 U.S. Initial Quality Study from J.D. […] [Read More]

FOUNTAIN VALLEY, Calif. — Hyundai Motor America and its network of franchise dealers in the United States recently rolled out a new initiative to raise funds to fight childhood cancer. The automaker declared dealers have pledged to donate a total of $3 million to Hyundai Hope on Wheels based on vehicles sold during the month of […] [Read More]

SANTA MONICA, Calif. — Although vehicle recalls have dominated the automotive headlines in the first half of 2010, it's not necessarily cause for significant alarm, according to Edmunds.com. In fact, the site suggested that recall issues were more problematic in the past. And in the wake of heavy news coverage, automakers and consumers, alike, have been […] [Read More]