Late Thursday, General Motors and Wells Fargo & Co. created a long-term partnership to offer competitive financing to Chevrolet, Buick, GMC and Cadillac dealers and retail customers in the contiguous states comprising GM’s U.S. West marketing region. Officials explained Wells Fargo will offer GM dealers a complete suite of products alongside the core offering of […] [Read More]

Though auto dealers reported varying sales results from region to region during the early part of 2012, one thing seems fairly clear: the prospects for the future looks bright. In fact, the Federal Reserve noticed widespread optimism among dealers in its latest Beige Book report “All districts reporting on sales outlooks conveyed optimism,” the Fed […] [Read More]

 KAR Auction Services once again cheered the financial performance of two subsidiaries — Insurance Auto Auctions and Automotive Finance Corp. Chief executive officer Jim Hallett declared both operations had “outstanding” years as they both posted rises in profit and revenue of at least 15 percent. Looking first at Insurance Auto Auctions, its 2011 revenue increased […] [Read More]

Manheim revealed this week it has completed its its planned purchase of Dealer Services Corp., which the company said  “reinforces its commitment to provide inventory financing to independent dealers.”  DSC, based in Carmel, Ind., is a used vehicle floor plan company for independent dealers that “complements Manheim’s current lending products provided through Manheim Financial Services,” […] [Read More]

The positive momentum being built in the auto industry doesn’t appear like it will end anytime soon, according to a recent study from Forbes Insight, which indicates the segment of the car business that will likely see particularly good fortunes is the luxury sector. And the luxury brands that are currently the kings of the […] [Read More]

Aimed at boosting stores’ marketing efficiency, ADP Dealer Services and its digital marketing group that runs Cobalt announced earlier this week they acquired Autotegrity from Link Ventures and Cogo Labs. Officials explained the deal is meant to be the nucleus of an expanding facility focused on the application of science to optimize the online shopping […] [Read More]

CarMax revealed this week  it has launched its first auto superstore in Chattanooga, Tenn. The store is more than than 36,000 sqare feet and employs more than 90 associates, officials shared. Moreover, the rooftop — located at 2211 Overnite Drive — stocks about 300 used vehicles, the company noted. [Read More]

Both Toyota and Lexus rolled out revamped Facebook pages this week, taking advantage of the social media website’s new page timeline feature. Toyota executives hope the new page timeline feature can give consumers unique insight into automaker’s U.S. history of product and people that spans back to 1957. They also think it can provide updates […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack revealed Thursday its local teams will be relocating to new Dallas office space. The company will be leasing approximately 59,152 square feet of new office space at Dallas’ Galleria 1 building, officials announced. And this new office will house 240 members of DealerTrack’s vehicle inventory management team. Bridget Townsend, vice president and general […] [Read More]

DETROIT — Chevrolet, Buick, GMC and Cadillac dealers, as well as U.S. retail customers within contiguous states comprising General Motors' Western marketing region now have another financing option thanks to a deal revealed late Thursday. GM and Wells Fargo & Co. created a long-term partnership where Wells Fargo will offer GM dealers a complete suite of […] [Read More]