DETROIT — General Motors said it returned to profitability in the first quarter, reporting net income of $900 million and operating income of $1.2 billion on total revenues of $31.5 billion. The automaker recorded adjusted EBIT of $1.7 billion. GM said this was determined following adjustments it made for the favorable impact of selling the Saab brand. GM […] [Read More]

SANTA MONICA, Calif. — Edmunds.com expects Memorial Day to be a busy time for dealerships. Site analysts described potential sales traffic during the holiday weekend as "especially strong this year." Edmunds.com indicated that new-vehicle sales have been relatively weak so far this month. The site even suggested that May SAAR may drop slightly from April's 11.2 […] [Read More]

AUBURN HILLS, Mich. — Chrysler Group saw the ruling turn in its favor in yet another dealer arbitration case, this time notching a victory against a store in Texas. Manuel Dodge in Richardson, Texas, was one of the hordes of dealers filing for arbitration after it was rejected by the automaker. After arbitration was held May […] [Read More]

STUTTGART, Germany — Citing a series of reasons late last week, the supervisory board of Daimler AG revealed its decision to apply for discontinuation of share listing on the New York Stock Exchange. Daimler executives also indicated that their letter will serve as notice for discontinuing the listing of 8.50 percent notes due Jan. 18, 2031 of […] [Read More]

DETROIT — Already contending it's the fastest-growing brand in the country, the brain trust for General Motors' Buick division recently gathered with industry partners to shape future strategy for design, engineering, marketing and advertising. The results of the gathering are what executives believe are keys to pushing Buick to potential buyers, which include sculpted designs, luxurious […] [Read More]

PARSIPPANY, N.J. — In the latest development to the potential sale of a major player in the rental-car market, Avis Budget Group revealed late Thursday afternoon that it has filed for antitrust approval of its potential acquisition of Dollar Thrifty Automotive Group. Specifically, Avis Budget officials said the company filed notification with federal antitrust authorities under […] [Read More]

NORTHBROOK, Ill. — Donlen announced this week that it has hired a new senior vice president of client relations. Appointed to serve in the post was Jim Kachidurian, who was previously the senior vice president of corporate lending at GE Capital, a role in which he worked primarily with Fortune 500 companies. "We are excited to […] [Read More]

FOUNTAIN VALLEY, Calif. — Hyundai Motor America promoted one of its executives with 25 years of industry experience to be its vice president of marketing. On Tuesday,president and chief executive officer John Krafcik announced that Chris Perry would be responsible for all of Hyundai marketing communications and brand development in the United States. Since 2007, Perry […] [Read More]

WASHINGTON, D.C. — The editors who compile rankings for U.S. News & World Report recently made their selections for the best new vehicles about to hit dealer showrooms. Of the five vehicles they selected, only one came from a domestic manufacturer. That vehicle was the 2011 Ford Fiesta. The other units included in the rankings were the […] [Read More]

FRANKLIN, Tenn. — Nissan North America is offering its support to help Tennesseans recover from the flooding that devastated the state where it is headquartered.  Nissan donated $200,000 in cash to the American Red Cross in Middle Tennessee and $50,000 cash to the Second Harvest Food Bank. Moreover, the company said it will match up to $50,000 […] [Read More]