Can Facebook help boost sales in dealerships? The jury is still out, but research firm Friedman-Swift Associates revealed research last week that says more than one in four new car buyers visit social networking sites at least weekly. Jeff Friedman, president and chief executive officer of the Cincinnati-based Friedman-Swift Associates, said, "28 percent of people […] [Read More]

A positive online review of a dealership can draw a wider radius of potential car buyers, says a new study of more than 1,600 car buyers and 600 dealerships by Digital Air Strike. In releasing the results of its Fall 2012 Automotive Social Media and Reputation Trend Study, the automotive social media, online reputation and […] [Read More]

BLOOMFIELD HILLS, Mich. — Whether it's associated with a large, public dealer group or a single buy-here, pay-here lot, matching vehicles up with financing remains one of the biggest challenges managers still face nowadays. Recently, SubPrime Auto Finance News found the top boss from Penske Automotive Group and the current president of the National Independent […] [Read More]

SOUTHFIELD, Mich. — Triggered by a 5-percent uptick in loan unit volume, Credit Acceptance Corp. posted a gain in consolidated net income during the third quarter. The company determined its consolidated net income came in at $53.0 million or $2.12 per diluted share for the quarter that ended Sept. 30. In the same quarter a […] [Read More]

DETROIT — General Motors announced a new $11 billion revolving credit facility this morning, an opportunity officials said also can be tapped by GM Financial. GM said this facility consists of a $5.5 billion three-year facility and a $5.5 billion five-year facility. The new facility replaces GM's existing $5.0 billion credit facility maturing in 2015. […] [Read More]

FARMINGTON HILLS, Mich. — For the first time in company history, Mercedes-Benz Financial Services was named by Great Place to Work as one of the best workplaces in the United States on its annual Best Small and Medium Workplaces list. The lending operation was ranked No. 24 for an accolade that's also been published by […] [Read More]

From monetary and vehicle donations to deferred payments for storm-stressed customers, automakers and others in the industry are providing aid to those impacted by Superstorm Sandy. For auto dealers in areas affected by the storm, MediaTrac has announced complimentary email campaigns it says are designed to help dealers provide valuable information to their customers about […] [Read More]

Enterprise Holdings recognized its 2012 Auction Achievement Award winners on Thursday, spotlighting 11 auctions across the U.S. for their excellence in of strategic planning, communication, operational success, customer service, marketing and reconditioning. “Our auction partners play a vital role in our remarketing strategies,” said Andrew Taylor, chairman and chief executive officer at Enterprise Holdings. “We […] [Read More]

As damage tallies  stemming from Superstorm Sandy continue to climb, CNW Research determined the storm cost the used-vehicle industry nearly a quarter-million used sales in October. Or, put another way, $2 billion in "probable value." Nonetheless, CNW said Thursday that October sales were still up year-over-year by 4.6 percent. The firm tabulated total used sales […] [Read More]

The Dataium Automotive Shopper Intensity Index continued its upward momentum, increasing 4.65 percent from August to September. Dataium said the positive movement of the ASI — which serves as an early predictor of the next 30 to 45 days of automotive retail sales — reflects the strengthening consumer confidence that has been aided by a […] [Read More]